Latin Resources Ltd‘s (ASX:LRS) (FRA:XL5) 100%-owned Noombenberry Project in Western Australia is shaping up to be a very large and high-quality deposit as the second batch of drill results continue to show bright to ultra-bright kaolinite and high-grade halloysite.
The results include individual composite sample grades of up to 3 metres at 23% halloysite, 65% kaolinite and 86 ISO-B Brightness from 8 metres.
Given the shallow nature of mineralisation and consistency of the assay results, the company is well-positioned to undertake a maiden JORC resource estimate and this is targeted for the second quarter of 2021.
The company is well-funded to undertake infill drilling to support the estimate with more than $4.5 million in cash as at the end of 2020.
Noombenberry Project showing completed aircore drill sites.
“Continuity and consistency”
Latin Resources executive director Chris Gale said: “We are extremely pleased to see our initial results mirrored in this next batch of results from our test work.
“We now have results for over 50 of our 197 holes drilled at Noombenberry and we are seeing continuity and consistency of the high-grade halloysite and bright to ultra-bright white kaolinite.
“This is shaping up to be a very large and more importantly, a high-quality deposit that we expect will command strong attention from potential end-users.”
Commence resource estimate
Gale added: “Work is well underway on building our geological wireframes so that we can be ready to commence the resource estimate as soon as all of our test-work results have been received.
“The team is focused on fast-tracking this process, as well as looking toward the next phase of drilling to extend our coverage to the north, where our initial results show the mineralisation remains open.”
High-grade results
Results so far are from 50 of the 197 holes drilled, with further results anticipated to be received in the coming weeks.
The results received so far include:
- 17 metres at 12% halloysite, 65% kaolinite, 75 ISO-B from 3 metres, including 3 metres at 23% halloysite, 65% kaolinite, 86 ISO-B from 8 metres;
- 10 metres at 10% halloysite, 80% kaolinite, 73 ISO-B from 2 metres;
- 16 metres at 7% halloysite, 65% kaolinite, 77 ISO-B from 5 metres, including 4 metres at 14% halloysite, 66% kaolinite, 81 ISO-B from 9 metres; and
- 17 metres at 5% halloysite, 87% kaolinite, 83 ISO-B from 10 metres, including 5 metres at 12% halloysite, 67% kaolinite, 76 ISO-B from 22 metres.
Recommence drilling
The company plans to recommence drilling once all statutory approvals have been received to extend the current drill coverage into its adjacent 100%-owned tenement (E77/2624), where the initial results show the bright-white kaolin and high-grade halloysite mineralisation is open to the north.
Latin Resources has formally engaged a suitable independent consulting group to undertake a maiden JORC resource estimate for the Noombenberry Project mineralisation.
The company’s geological team is working closely with the consultant group, with geological domaining and the construction of the wireframe model underway.
This precursor work will enable the fast-tracking of the estimation process once all test-work results have been received.
Potential offtake partners
The company has started to receive inbound enquires from potential offtake partners and will continue to progress these discussions as it gains a better appreciation for the scale and characteristics of the halloysite project.