Latin Resources Ltd (ASX:LRS) is an Australian-based mineral exploration company that has acquired the Noombenberry Halloysite project from a private company, Electric Metals. The company also has a number of mineral resource projects in Latin America. The Company has secured over 173,000 hectares of exploration concessions in the lithium pegmatite districts of Catamarca and, San Luis Provinces in Argentina. The Company has also assembled a portfolio of lithium projects in Brazil.
The company controls the MT03 Copper Porphyry project in the Ilo region of Peru in which it is actively progressing with its joint venture partner First Quantum Minerals Ltd.
The Noombenberry Project is located 300 kilometres east of Perth in Western Australia, and is prospective for kaolinite and halloysite.
Exploration programs are underway.
Catamarca Lithium Project
On 31 May 2016 the Company announced it had made claim applications over 70,000 hectares in seven exploration tenements in the Catamarca Province, prospective for Lithium Pegmatites.
Following extinction of a series of abandoned claims by the Mining Authority of Catamarca, Latin has applied for additional exploration tenements over 7,051.6 hectares that were surrounded by the initial exploration tenement applications in two areas, Vilisman and Ancasti, each with past Lithium mining activity and that together host in excess of twenty Lithium bearing pegmatite deposits documented by various authors in publications made over the last 50 years.
Combined estimates of Spodumene content within 15m of surface of 12 of these deposits subject of the latest claim applications are in excess of 120,000 t (Acosta et al 1988, Balmaceda & Kaniefsy 1982 and other non-JORC foreign publications). These Lithium bearing pegmatite deposits have a history of small scale past production, having been intermittently exploited for Lithium minerals, and associated Beryl, Tantalum and feldspars during the 1950’s and 1970’s.
Analysis of four samples collected by Latin geologists of exposures of spodumene in old mine workings in three pegmatite deposits within the new claim applications reported grades of 6.6%, 7.1%, 6.3% and 4.9% Li2O respectively.
San Luis, Argentina
Latin Resources now controls over 120,000 hectares of exploration concessions and two mining concessions within the Conlara, El Totoral and Estanzuela pegmatite fields in San Luis Province, Central Argentina.
The concessions include and surround pegmatite dykes which have been mined in the past for Lithium minerals (as spodumene or lepidolite) and other related minerals of economic value including quartz, feldspar, beryl, tantalite (tantalum mineral) and columbite (niobium mineral).
Latin Resources has claimed new applications over 98,086 hectares in twenty new exploration concessions.
Latin has also claimed the “Maria Del Huerto” mining concession, comprising three or more parallel dykes where spodumene was mined between 1936 and 1940.
The company has signed a binding agreement that gives a direct path to 100% Latin Resources ownership of the prized Geminis Mine and surrounding Don Gregorio exploration concession, which are within the existing Latin Resources San Francisco concession application.
A Binding Terms Sheet with Kontrarian Resources Fund No 1 gives a direct path to 100% Latin Resources ownership of an additional five lithium concessions that cover more than 44,000 ha in San Luis Province.
Guadalupito Andalusite and Mineral Sands Project - Northern Peru
Latin Resources Limited (“Latin”) seeks interested Joint Venture Partners to develop their Guadalupito Andalusite and Mineral Sands Project situated in Northern Peru. This has the potential to be a world class project with current JORC resources of 1.3 Billion tonnes and an exploration upside of 4 Billion tonnes. Aside from the main value from the andalusite mineral content, magnetite, Ilmenite, rutile, zircon, monazite, garnets and apatite all offer additional economic upside, reducing unit costs for andalusite production.
The opportunity for the investor is to be a large shareholder of an advanced project in one of the world’s largest growth regions of Latin America.
Ilo Sur Copper Project, Peru. JV - First Quantum Minerals (FQM)
FQM have funded geophysics survey and partial extraction geochemistry on the Pachamancha – MT03 Copper project in Peru. This target has now developed into a joint venture with FQM to drill if further sufficient coincident support for the target is identified.
Ilo Este and Ilo Norte Copper Projects (TSX Westminster)
Brazil Lithium Pegmatite Projects
Minas Gerais, Brazil
Latin Resources has invested significant time and geological resources investigating the lithium potential of Jequitinhonha valley region of Minas Gerais which hosts the Eastern Brazilian pegmatite province, home to Sigma Lithium and Companhia Brasileira de Lítio (CBL).
The Jequitinhonha valley is a highly underexplored region that currently contains 100% of the official lithium reserves of Brazil. Latin Resources geologists have now based themselves out of the city of Salvador in close proximity to the area of interest. The team has just completed their third trip to the region and have continued to locate occurrences of spodumene never previously known or reported.
Sigma Lithium are the most active explorers in the region currently drilling out a world-class lithium resource base which currently stands at 45.7Mt @1.38% Li2O. Sigma is focused on 10 high-grade hard-rock lithium pegmatites, nine of which were past-producing lithium mines, yet have reported over 200 pegmatites within their tenure. Whilst not far away, CBL is actively mining spodumene pegmatites, producing a spodumene concentrate which is then transferred to a chemical plant in Divisa Alegre, Minas Gerais, where it is transformed into industrial grade lithium hydroxide. Latin Resources is particularly excited by the opportunities this may present in the future for battery grade lithium hydroxide production.
Last updated 22nd January 2020
Mr Vilensky is a practising corporate lawyer and the managing director of Perth law firm Bowen Buchbinder Vilensky. He has more than 30 years experience in the areas of corporate and business laws and in commercial and corporate management. Mr Vilensky practises mainly in the area of mining and resources, corporate and commercial law, trade practices law, contract law and complex dispute resolution. Mr Vilensky acts for a number of listed and private companies and is also the non–executive chairman of Zambezi Resources Limited, an ASX listed company focusing on copper exploration in Zambia’’ Other directorships of Australian listed companies held by Mr Vilensky in the last three years are:
Current: Zambezi Resources Limited.
Christopher (Chris) Gale is the Managing Director of Latin Resources.
Mr Gale has extensive experience in senior management roles in both the public and private sectors, especially in commercial and financial roles. He has also held various board and executive roles at a number of mining and technology companies during his career.
Chris is the current Chairman of the Council on Australian Latin American Relations (COALAR) established by the Australian Government Department of Foreign Affairs and Trade(DFAT). He is also a founding director of Allegra Capital, a boutique corporate advisory firm based in Perth and is a member of the Australian Institute of Company Directors (AICD).
Mr. Jones is an experienced financial services professional who has held operating roles at Woolworths, AFL, Civil Engineers - Ostojic Group and the National Tax and Accountants’ Association prior to his current management position.
Over the past 13 years, Mr. Jones has been the joint Managing Director of InterPrac Limited, an unlisted public company, specializing in providing the accounting industry access to financial services products and distribution capabilities.
Mr. Jones has a degree in information technology, is a member of the National tax and accountants association and is a Graduate of the Australian Institute of Company Directors (AICD).
Sarah Smith (Sarah) holds a Bachelor of Business and is a Chartered Accountant with significant experience in the Administration of ASX listed companies, as well as capital raisings and IPOs, due diligence reviews and ASIC compliance.
Sarah has acted as the Company Secretary for a number of ASX listed companies.
Last updated 22nd January 2020
Mr David Vilensky - Non-Executive Chairman
Mr Christopher Gale - Managing Director
Mr Brent Jones - Non-Executive Director
Miss Sarah Smith
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Last updated 22nd January 2020