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- Latin Resources (LRS) confirms its Cloud Nine deposit in Western Australia is a “globally significant” halloysite deposit
- The company has completed closed spaced, geostatistical cross-drilling at the deposit, with the latest results returning “exceptionally” high grades of halloysite
- The work was undertaken as part of wider plans to upgrade the Inferred Resource
- A specialist drilling contractor has been engaged to complete 400 metres of drilling using the sonic drilling technique which is set to begin at the end of February
- Shares unchanged at 3.3 cents
Latin Resources (LRS) has confirms its Cloud Nine deposit in Western Australia is a “globally significant” halloysite deposit.
The company completed close spaced geostatistical cross drilling at the project as part of wider plans to upgrade the mineral resource.
In December, Latin Resources reported best results from this work which included 19 metres at 23.4 per cent halloysite from 13 metres, including 2 metres at 50 per cent halloysite.
Now, the final results have been received which the company said continue to demonstrate the consistent nature of the halloysite bearing material and reinforces its
position as a “globally significant” halloysite deposit.
The recent results confirmed the continued presence of two discreet zones of halloysite bearing material within the kaolinised granite clays.
Latin Resources classed some of the results as “exceptionally” high with 36 and 46 per cent halloysite encountered within the broader zones.
The company had previously reported the deposit has a JORC 2012 Inferred Mineral Resource of 207 million tonnes of kaolinised granite.
Following the Christmas and New Year break, field activities at Cloud Nine have recommenced and the company is continuing to progress advanced metallurgical, mineral resource and other studies as part of its evaluation of the deposit, including preparation for a maiden core drilling campaign to collect metallurgical and geotechnical samples.
A specialist drilling contractor has been engaged to complete about 400 metres of drilling using the sonic drilling technique.
The core samples gained from this work will be used to determine a deposit specific, bulk density for the geological domains used in the current JORC Mineral Resource Estimate, along with providing additional samples material for the company’s ongoing metallurgical test work.
Drilling is scheduled to commence at the end of next month.
Cloud Nine is located near Merredin on the largely granitic Archean Yilgarn Craton and the basement geology features undulating granite, with isolated outcrops in the deposit area.
In other news, bulk samples required for studies by Latin Resources’ research partner CRC CARE are being collected from drill samples on site as part of the collaboration to develop critical methane and other greenhouse gas capture technology.
Latin Resources shares were unchanged at 3.3 cents at 9.47am AEDT.
