Latin Resources enters gold sector with earn-in for project in prolific Lachlan Fold Belt
The transformative move follows the company completing funding of its South American lithium and copper projects through joint venture partners.
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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The transformative move follows the company completing funding of its South American lithium and copper projects through joint venture partners.
The company has been granted a trading halt until Thursday, June 25, or when an announcement is released to the market.
Integra Capital will spend up to US$1 million in a joint venture with Latin to explore, develop and earn 50% of its Catamarca lithium pegmatite projects.
Executive director Chris Gale will present at the NWR Small Cap Resources Virtual Conference on Wednesday.
Latin recently signed an extension to its joint venture terms with major global copper producer First Quantum Minerals Limited
First Quantum Minerals, a US$8 billion Canadian listed copper producer, via subsidiary Antares Peru SAC, has identified drill hole targets for a proposed 4,000-metre diamond drilling program.
Latin Resources is focused on its Noombenberry Kaolin Halloysite Project in WA and has a portfolio of lithium projects in South America.
Rare earths & specialist minerals
Latin is working towards establishing a JORC resource for kaolin or halloysite deposits within the project.
The company has entered into a conditional Binding Terms Sheet to acquire Electric Metals Pty Ltd which holds two projects in Western Australia.
The company’s securities will remain halted until Wednesday, October 16, or when an announcement is released.
The company has been granted a trading halt until Monday, September 9, or when an announcement is released.
Investments and investor services
Lind Asset Management XII LLC has accumulated more than 202 million shares for a 5.59% interest.
The company aims to determine targets, secure ground and define resources.
The company’s resources are being directed at Brazil where it believes it can effectively execute exploration programs and deliver positive news and results in a timely manner.’
The company is progressing towards obtaining drill permits for its lithium concessions in Argentina.
The company extended the closing date to its SPP on February 18 2019 to advance lithium opportunities in the San Louis region of Argentina exploring at Catamarca and finishing testing of its spodumene-to-lithium-carbonate process.
The company’s most prospective lithium tenements are located in the province of San Luis.
The company is seeking to raise $1 million from shareholders via a share purchase plan.
Shareholders who are on the share register on January 30, 2019 will be eligible to participate in the SPP.
The company aims to establish a sustainable lithium industry based around known deposits in San Luis province.