LRS 4.65% 22.5¢ latin resources limited

Latin Resources emphasises potential scale of Noombenberry...

ANNOUNCEMENT SPONSORED BY PLUS500
ANNOUNCEMENT SPONSORED BY PLUS500
CFD TRADING PLATFORM
CFD Service. Your Capital is at risk
CFD TRADING PLATFORM CFD Service. Your Capital is at risk
ANNOUNCEMENT SPONSORED BY PLUS500
CFD TRADING PLATFORM CFD Service. Your Capital is at risk
  1. 967 Posts.
    lightbulb Created with Sketch. 312

    Latin Resources emphasises potential
    scale of Noombenberry Project on
    identifying more high-grade halloysite
    and ultra-bright kaolin

    Results confirm initial visual observations of bright to ultra-bright white (>84 IOS-B) kaolinitic clays in dam walls up to 15 kilometres along strike northeast of the current focus for air core drilling.

    Latin Resources Ltd - Latin Resources emphasises potential scale of Noombenberry Project on identifying more high-grade halloysite and ultra-bright kaolin
    Results from grab/float samples collected at ‘white dam’ locations at the Noombenberry Project

    Latin Resources Ltd’s (ASX:LRS) (FRA:XL5) results from four float samples collected from dam walls have confirmed bright white and ultra-bright white kaolin, emphasising the potential scale of its 100%-owned Noombenberry Project in Western Australia.

    These strong results highlight the potential scale of the high-quality kaolinite and high-grade halloysite mineralisation within the project, where the company is engaged with independent consultants to generate its maiden JORC resource.

    The company has land access agreements in place covering these areas and will progress to systematic drill testing of these new areas as a priority once the new tenements are granted.

    Potential to significantly grow the project

    Latin Resources executive director Chris Gale said: “These results from the reconnaissance sampling of the white dams along strike from our current drilling area are exceptional.

    They are not only significant in their own right, showing high-quality kaolinite and high-grade halloysite outside of our current area of drilling, but moreover they highlight the potential to significantly grow the exciting Noombenberry project.

    “These samples are up to 15 kilometres along strike from our main drilling area, where we are undertaking a maiden JORC resource and is the first location sampled as part of our regional reconnaissance program.

    “Latin’s tenement applications extend over a strike length of 100 kilometres where our exploration team have identified many more of these white dam locations.

    “We are extremely confident that as we continue to expand our reconnaissance sampling into our new tenement areas, we will continue to highlight more high-grade zones like this.”

    Float sample results

    Results from four float samples collected from dam walls at two separate locations within Latin’s new tenement applications have confirmed bright white (>74 ISO-B) and ultra-bright white (>84 ISO-B) kaolin up to 15 kilometres along strike to the northeast of the company’s main drilling area.

    Both samples from one dam site sampled about 7 kilometres along strike to the northeast have returned high-grade (>10%) halloysite, with one sample returning over 25% halloysite.

    Maiden JORC resource estimate

    The JORC resource estimate will be based on an area of about 4.0 by 4.5 kilometres (18 square kilometres), where the company has completed air-core drilling on a nominal 200 metres by 200 metres grid pattern.

    With results from the analysis of drill samples still coming in, the company’s immediate focus is generating the geological wireframes to enable the fast-tracking of the estimation process once all results have been received.

    Extend current drilling pattern

    In parallel with this, the company is preparing to extend the current drilling pattern immediately to the north, within its 100%-owned and granted tenements, where new land access agreements have recently been executed.

    Work programs have been submitted to DMIRS, with the company planning to commence drilling as soon as possible upon receipt of approvals.

    The company will then turn its attention to these newly identified areas of high-quality kaolinite and high-grade halloysite along strike to the north-east and then further afield within the company extensive tenement package which extends over a 100-kilometre strike length.

 
watchlist Created with Sketch. Add LRS (ASX) to my watchlist
(20min delay)
Last
22.5¢
Change
0.010(4.65%)
Mkt cap ! $630.3M
Open High Low Value Volume
21.0¢ 22.8¢ 21.0¢ $7.375M 33.24M

Buyers (Bids)

No. Vol. Price($)
6 521810 22.0¢
 

Sellers (Offers)

Price($) Vol. No.
22.5¢ 413310 3
View Market Depth
Last trade - 16.10pm 30/09/2024 (20 minute delay) ?
LRS (ASX) Chart
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.