Latin Resources advances battery metals portfolio in Argentina
The ASX-listed company is focused on South American opportunities.
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 ASX-listed company is focused on South American opportunities.
The company is focused on exploring its projects in Argentina as well as developing the local lithium mining and processing industry.
The company's managing director recently met with the new San Luis mining secretary.
AusQuest Limited has entered an agreement with Westminster Resources covering five licences.
S&P expects mined cobalt supply to increase at a CAGR of 12% to 2021.
The closing of the transaction includes the issue of 19 million shares of Westminster (worth about C$2.66 million today)
Latin has over 263,000 hectares of exploration concessions in the lithium pegmatite districts of Argentina.
The company’s shares are trading about 17% higher intra-day, at 0.7 cents.
The company has commenced drill permitting on its lithium projects in the Catamarca province.
Drill permitting applications commenced in Catamarca for 2018 drilling programs.
The company is also progressing its iron oxide copper-gold (IOCG) and copper porphyry projects with JV partner First Quantum Minerals Limited (TSE:FM).
The concessions have historical links to lithium mining and contain high-grade lithium-bearing pegmatites.
Initial field work completed near the historical King Tut cobalt mine in Argentina.
Frankfurt-based DGWA has assisted European Lithium in a similar capacity.
The company has signed a term sheet to secure five new concessions in San Luis Province.
The company maintains an interest in the assets through its 43% stake in Westminster.
The company is discussing joint venture and offtake for its lithium assets in Argentina.
The company has a strategy to strategy develop projects with partners.
Abundant spodumene is evident in an abandoned historic quarry within the project.
The company is focused on near-term lithium production in Argentina.