Latin Resources revises mineral estimates upwards at northern Peru mine

Latin Resources, the mineral exploration company with projects in Peru, has published an update on the volume of heavy minerals estimated at its Los Conchales project in northern Peru.

Snowden Mining Industry Consultants estimated that there is 1.1bn tonnes of maiden JORC Inferred Resource at 6.1% heavy mineral (HM) in situ in Los Conchales.

The new JORC-Inferred Resource Estimate exceeded Latin Resources' previous conceptual exploration target for Los Conchales of 690m tonnes at 6.8% HM that was reported on July 26th.

The update reported that the Los Conchales Magnetite concentrate should attract a premium over other Titanomagnetite concentrates in the market which generally sell at a discount to Pilbara Fines recently ranging from $125-$135 per tonne in Chinese ports.

MF