Latin Resources Limited (ASX:LRS)(“Latin” or “the Company”) is pleased to provide an update on the commencement of the 2022 site‐based exploration activities at the Cloud Nine Halloysite‐Kaolin deposit (“CloudNine”) in Western Australia.


HIGHLIGHTS:

  • The final XRD results from the close spaced drilling, further confirms the continuity of high‐ grade and thickness of the halloysite bearing kaolinised granite, within the Cloud Nine Mineral Resource area. Significant intersections include:
    • NBAC378: 6m @ 24% halloysite from 7m and: 13m @ 18% halloysite from 21m
    • NBAC380: 16m @ 27% halloysite from 14m
    • NBAC382: 6m @ 26% halloysite from 14m Incl: 2m @ 36% halloysite from 16m
    • NBAC383: 18m @ 26% halloysite from 7m Incl: 6m @ 46% halloysite from 17m
  • Ongoing analysis of the infill drilling required to update the existing Cloud Nine JORC Mineral Resource Estimate will be completed using the Company’s alternate analysis pathway, which is anticipated to significantly improve the results delivery timeframe.
  • A specialised drilling contractor has been secured to complete geotechnical drilling and metallurgical drilling at the Cloud Nine Halloysite‐Kaolinite deposit, with drilling scheduled to commence in February.

Following a short break of the Christmas and New Year period, field activities at Cloud Nine have now recommenced. The Company is continuing to progress advanced metallurgical, mineral resource and other studies as part of its ongoing evaluation of the deposit, including preparation for a maiden core drilling campaign to collect metallurgical and geotechnical samples.

Latin’s Exploration Manager Tony Greenaway commented, “Our field team has been busy back out on site as of last week at Cloud Nine, collecting samples for additional metallurgical test work. We will continue to progress our detailed studies at Cloud Nine over the next quarter, including work on an upgrade to the maiden JORC Inferred Mineral Resource, along with geotechnical and other mining related studies.

“We plan to have drilling rigs back out on site very soon to enable us to collect bulk samples; while in parallel we will also be commencing work on the longer lead time approvals required for development of the deposit, which include conversion of the existing Exploration Licences to Mining Licences and baseline environmental studies.”

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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