Latin Resources confirms concentrations of heavy minerals including magnetite, andalusite, ilmenite, zircon and the rare earth mineral, monazite, in a 2bn tonne resource in north-central Peru.
A Perth, Australia-based, iron ore and gold focused exploration company focusing on Peru, Latin Resources is evaluating an iron and heavy mineral beach placer deposit at Guadalupito, 25km north of the city of Chimbote, and almost 400km north of Lima.
In a first exploration phase, 192 samples were collected from one metre-deep pits sampled along 13km of strike.
The average heavy mineral content was 6.9%, and the average heavy mineral content of the -1mm/+52μm sand fraction (representing 48.7% of the total sample mass) was...