Its about time for some real news on these projects!
Agreements signed 12 months ago with minimal updates.
Not good enough IMO!
Argentinian Lithium projects
In June 2020, Latin announced it had signed a joint venture agreement on the Company’s Catamarca lithium pegmatite
projects with Argentinian investment group Integra Capital S.A. Integra has a diversified portfolio in more than 10 countries
and is one of Argentina’s largest lithium explorers, holding more than 400,000 hectares of lithium brines projects in Jujuy
and Catamarca provinces.
On 1 October 2020, Latin announced Integra had completed due diligence and would enter into a transformational joint
venture agreement on the projects. The agreement aligns with the strategic approach by Latin in identifying, acquiring and
advancing large-scale land positions of highly prospective mineral projects to attract joint venture partners. The signing of
the final Joint Venture Agreement was completed in October, with Mr Jose Luis Manzano of Integra Capital taking a 10%
placement in Latin Resources to become Latin’s largest shareholder.
Integra will spend up to US$1 million (A$1.4 million) under a Joint Venture that will underpin an aggressive exploration
program on the Catamarca concessions.
With the primary aim of delivering a maiden JORC resource, the Joint Venture focus will then turn to project development,
including feasibility, engineering and metallurgy studies to produce a lithium spodumene concentrate. Latin has already
developed a high-level scoping study with consulting engineers Primero Group to develop the Argentinian lithium assets.
Under the JV, Latin will be free-carried through initial exploration with financing for the construction of the processing
plant to be in line with percentage ownership between Integra and Latin of the project partnership at the time of the Final
Investment Decision.
Pachamanca/MT-03 Copper Project – Peru
In February 2020, Latin announced its subsidiary Peruvian Latin Resources SAC had signed an extension to the Binding
Terms executed with Minera Antares Peru SAC, a subsidiary of Canadian copper producer First Quantum Minerals Ltd.
The current term sheet was extended to 31 December 2020. On-ground activities on Latin’s Joint Venture with First
Quantum over the MT03 Copper Project were delayed because of Covid-19 lockdown restrictions and a state of emergency
in Peru.
A detailed ground magnetic survey is planned over the MT-03 anomaly to assist in the targeting of the planned maiden
drill testing of the initial anomaly. While Covid-19 restrictions in Peru remained in force, Latin continues to work with local
contract groups.
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