Latin Resources (ASX: LRS) has been granted a trading halt by the ASX pending an announcement in relation to one of the company's Peruvian prospects, with the shares placed in pre-open.
Latin has not yet released which prospect the announcement relates to, but some very promising results were identified at the Guadalupito Iron and Heavy Mineral Sands project, located in Peru, in late 2010.
At Guadalupito two magnetic concentrates identified up to 64% iron and 5% titanium, with gold grades of potential economic significance.
Quantities of the rare earth elements; lanthanum, cerium, neodymium and thorium were identified in monazite.
The company has an option and lease agreement over six mining concessions totalling 2218 hectares.
The trading halt will end when an announcement is made, or at the start of trading on Wednesday 9 February.