Latin Resources Intersects Visible Copper and Molybdenum at Ilo Este
- Details
- Category: Molybdenum's News
- Published on 24 December 2014
- Written by luya
- Hits: 560
Latin Resources (ASX:LRS) shares are expected to lift after the company discovered that copper mineralisation continues over 1.1 kilometres of strike at the Ilo Este project in Peru.
This potentially points to a large copper porphyry system, with Latin already in discussions with a number of potential partners to further evaluate such a large system.
Large porphyry deposits typically have many discrete, higher grade pods, indicating that Latin could be on the edge of the system.
The project is strategically located in a highly prospective are which hosts over 560,000 tonnes per annum of copper production and 125 billion pounds of copper in published resources and reserves within 130 kilometres of Ilo Este.
Latin's third hole, IE-JDD-003, has reached 500 metres with significant intervals of visible copper mineralisation throughout the hole.
Multiple, moderate to intensely stockworked and potassic altered porphyry phases are seen in the majority of the core, with alteration and stockwork intensity are greater and more continuous than in previous holes.
Analysis
The third hole in the current drilling program at Ilo Este has now intersected visible copper and molybdenum mineralisation.
The assays will be highly anticipated and are expected in early January 2015.
Large porphyry deposits typically have many discrete, higher grade pods, indicating that Latin could be on the edge of the system.
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