Company
ASX:LRS
Latin Resources Limited (ASX: LRS) is an Australian-based mineral exploration company, with projects in South America and Australia, that is developing mineral projects in commodities that progress global efforts towards net zero emissions. The company is focused on its flagship Colina Lithium Project in the pro-mining district of Minas Gerais Brazil, where the company has defined a maiden mineral resource of 45.2 million tonnes at 1.32% lithium oxide, reported above a cut-off of 0.5% lithium oxide.
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Rare earths & specialist minerals
Its team is now focused on Brazil to develop JORC Lithium resources over the next 12 months.
Rare earths & specialist minerals
"Latin Resources is pleased to be following globally recommended ESG standards, especially with the development of our environmentally sustainable mineral projects with Halloysite and lithium being our major focus,” executive director Chris
The company’s lithium play is in the Jequitinhonha Valley, a highly underexplored region that currently contains 100% of the official lithium reserves in Brazil.
Rare earths & specialist minerals
The explorer undertook an extensive aircore campaign at Cloud Nine in a bid to upgrade and expand the deposit’s existing mineral resource estimate.
Copper has never been more in demand, from EVs to infrastructure, and Chile and Peru are already established as the top copper producers in the world.
Sampling has confirmed gold mineralisation is present at the prospect within the prolific Lachlan Fold Belt in southern NSW and has immediately moved to a close-spaced soil sampling program.
Rare earths & specialist minerals
The company is confident that there is potential for the kaolin-halloysite material at the Noombenberry Project to extend both north and south of the Cloud Nine deposit for up to 100 kilometres.
The granting of the Manildra and Burdette Gold tenements is a significant step forward for the company’s NSW exploration strategy in the highly prospective region.
The company is Westminster’s largest shareholder and is poised to leverage its South American copper assets as increased demand for the metal continues to drive the price to record highs.
Within only 18 months of identifying the opportunity, the company has been able to rapidly define this “globally significant” resource estimate and shares have jumped in early trade.
Latin is acquiring a 24% interest in Westminster Resources, which is developing its copper project portfolio in Latin America including the newly acquired Mostazal Copper Project.
Rare earths & specialist minerals
The final batch of assay results have been received, demonstrating impressive halloysite grades and enabling the company to commence the maiden resource estimate for the project.
Rare earths & specialist minerals
The company is aiming to fast-track a maiden JORC-compliant resource estimate once all results are received and the estimate is expected to be released in May.
“We are now debt-free and in a very healthy financial position and we look forward to progressing our projects in 2021 to the next level of development,” says executive director.
Rare earths & specialist minerals
The company is on track to deliver a maiden JORC resource for the project in the second quarter of 2021.
The company is set to secure exposure to the Atacama copper-rich region via the Mostazal copper property, which sits along the major structural control for the majority of Chile’s largest copper mines.
Rare earths & specialist minerals
The company remains well-funded to undertake infill drilling to support a maiden JORC resource estimate, targeted for the second quarter of 2021.
Directors David Vilensky and Chris Gale have exercised a combined total of 16,826,848 LRSOC options to acquire 16,826,848 fully paid ordinary shares for total consideration of $201,922.
A survey by S&P Global Platts has found that the vast majority of those in the sector believe lithium is experiencing a significant upswing.
Rare earths & specialist minerals
Results confirm initial visual observations of bright to ultra-bright white (>84 IOS-B) kaolinitic clays in dam walls up to 15 kilometres along strike northeast of the current focus for air core drilling.
