WoWDB

This item is part of a set (  http://ptr.wowdb.com/search?search=Latent Kor'kron  ) and has a chance to drop off of one of the new mobs added in 5.3 that you need to kill for Battlefield: Barrens such as Hellscream Laborer for example. It is roughly a ~1% drop chance and can be purchased from Ravika and costs 200 of the Barrens resources, 100 of one type and 100 of another. You can combine this with a  Radical Mojo to get an item level 476 class/spec specific piece of armor.

The Latent Kor'kron set also serves the purpose of providing old armor sets (varies by class) for transmogrification.