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- Latin Resources (LRS) has announced exploration updates for four of its South American and Australian projects
- The company has commenced land access talks at its Yarara Gold Project in NSW, seeking permission from owners to undertake exploration
- It’s also lodged drill permits for the Noombenberry Halloysite Kaolin project, in WA
- Finally, Latin revealed its due diligence for its Argentina lithium pegmatite projects had been delayed by COVID-19
- Following today’s update, shares in the company are trading down 15.4 per cent for 1.1 cents each
Mineral explorer Latin Resources (LRS) has provided an exploration update on four of its Australian and South American projects.
Yarara
Among today’s updates is the announcement the company has begun talks with landowners at its Yarara Gold Project in NSW. LRS is seeking permission to undertake exploration works at the site.
Yarara is one of Latin’s newest projects, with the company signing a binding farm-in terms sheet with Mining and Energy Group to earn up to a 75 per cent interest in the project in June.
It’s located in the prospective Lachlan Fold Belt and the company said the licence area covers a variety of agricultural and rural activities, which are owned by families, government and corporations.
Noombenberry
Along with an update on Yarara, Latin also revealed its technical geologists had paid a visit to in Noomberbery kaolin and halloysite project in Merredin, WA.
17 sites were investigated, with 12 locations identified as containing kaolinised granite.
Following the visit, Latin lodged drill permits to carry out reconnaissance exploration drilling at the sites to determine the quality of kaolin and how much halloysite is contained within the kaolinite.
Catamarca and MT03 Copper Project
Unfortunately, exploration activity Latin’s Catamarca lithium pegmatite projects with Argentinian investment group Integra Capital has been delayed due to COVID-19.
The company said its due diligence period had to be extended to the end of September 30, due to the lockdown restrictions related to the pandemic.
A similar issue has emerged at Latin’s Copper project in Peru, which has also been affected by COVID-19. The company said Peru was in the midst of a second-wave of coronavirus infections and had banned international flights as a result.
In a statement, the company said: “Latin Resources continues to support its staff in Peru and is monitoring the situation closely.”
Following today’s update on Latin’s Australian and South American projects, shares in LRS have taken a dive.
They’re current trading 15.4 per cent in the red for 1.1 cents each at 3.32 pm AEST.
