Latin Resources Limited (ASX: LRS) ("Latin" or "the Company") is pleased to provide an update of activities at the Company's 100% owned Noombenberry Halloysite-Kaolin Project ("Noombenberry" or the "Project"), where the Company is rapidly advancing the Cloud Nine Deposit ("Cloud Nine") through preliminary and Pre-Feasibility ("PFS") mining studies.


HIGHLIGHTS:

  • Close spaced drilling confirms continuity at Cloud Nine, with thick, near surface Ultra-High brightness (+80 ISO-B) kaolinite. Resultsinclude:
    • NBAC361: 10m @ 85.8 ISO-B from10m
    • NBAC356: 24m @ 83.4 ISO-B from14m
    • NBAC357: 28m @ 82.7 ISO-B from16m
    • NBAC358: 20m @ 82.5 ISO-B from16m
    • NBAC385: 28m @ 82.0 ISO-B from11m
    • NBAC386: 22m @ 82.0 ISO-B from11m
      • Incl: 10m @ 85.5 ISO-B from13m
  • Outstanding halloysite results received from the first 14 holes in the Geostatistical Cross drilling program. Significant intersections include:
    • NBAC356: 12m @ 25% Halloysitefrom34m Incl: 6m @ 36% Halloysite from34m
    • NBAC357: 12m @ 24% Halloysite from32m
    • NBAC358: 25m @ 28% Halloysitefrom14m Incl: 10m @ 43% Halloysite from26m
  • Resourceinfillandextensiondrillcampaignsamplingcomplete, which will provide sufficient data to increase the current Inferred MRE to a JORC Indicated and potentially Measured classification.
  • Earlyresultsfrominitialmetallurgyindicateimprovedyieldsmaybeachievedfromthefine fraction of the kaolinised granite.
  • Investigationofanalternateanalyticalpathway, targeting significant reductions in cost and analysis time using Fourier Transform Infrared (FTIR) Spectral Analysis and Machine Learning technologies are proving to be highly encouraging.
In May 2021, the Company announced a maiden Mineral Resource Estimate ("MRE") of 207Mt of kaolinised granite, which includes separate domains containing 123Mt of bright-white kaolinite and 84Mt of kaolin/halloysite-bearing materiali. The large-scale of the Mineral Resource places Noombenberry as a globally significant halloysite project, and with exceptional growth potential remaining, given the deposit is open in all directions.

As part of the focused advancement of Cloud Nine, the Company has completed a series of close spaced aircore drillholes at 50 metre centres as part of a wider infill and extension drilling campaign. The close-spaced holes, completed along a 1km north-south line and a 1km east west line (Figure 1), were aimed at providing sufficient data to assess the variability of an area of Ultra-bright white kaolinite and high-grade halloysite.


Click here for the full ASX release


This article includes content from Latin Resources, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.

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