Join our daily newsletter At The Bell to receive exclusive market insights
- Latin Resources’ (LRS) Canadian affiliate, Westminster Resources, has entered into an agreement to purchase Mostazal in Chile
- Westminster has agreed to purchase the 16 square kilometre Mostazal copper property, located in the Atacama region of Chile
- Under the contract, Westminster has agreed to a four-year option to earn 100 per cent interest in the project
- Notably, Latin is the largest shareholder of Westminster
- On market close for the weekend, Latin is up 13.5 per cent and is trading at 5.9 cents per share
Latin Resources’ (LRS) Canadian affiliate, Westminster Resources, has entered into an agreement to purchase Mostazal in Chile.
The Australian minerals explorer is the largest shareholder of Westminster, which is listed on the TSX.
Westminster has agreed to purchase the 16-square-kilometre Mostazal copper property, located in the Atacama region of Chile, 80 kilometres northeast of Copiapo.
The Atacama Desert is among the richest copper regions on earth, hosting some of the world’s most significant porphyry copper deposits.
Under the contract, Westminster has agreed to a four-year option to earn 100 per cent interest in the project.
Mostazal is situated within the 500 kilometres long, north–south trending Domeyko Fault System, the major structural control for the majority of Chile’s largest copper mines such as BHP’s Escondida, Chuquicamata and the El Salvador mine.
Notably, Latin owns over 5.2 million shares, totalling 27 per cent of the issued capital in Westminster.
On market close for the weekend, Latin is up 13.5 per cent and trading at 5.9 cents per share.
