Latin Resources shares climb as drilling begins at Ancasti Lithium Project
Ancasti has a history of small scale lithium production.
Company
ASX:LRS
Latin Resources Limited (ASX: LRS) is an Australian-based mineral exploration company, with projects in South America and Australia, that is developing mineral projects in commodities that progress global efforts towards net zero emissions. The company is focused on its flagship Colina Lithium Project in the pro-mining district of Minas Gerais Brazil, where the company has defined a maiden mineral resource of 45.2 million tonnes at 1.32% lithium oxide, reported above a cut-off of 0.5% lithium oxide.
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Ancasti has a history of small scale lithium production.
Samples grading up to 4.46% lithium oxide were taken from drill targets.
Following the approval of the EIA it is proposed to start drilling immediately.
Latin Resources has received a Speculative Buy recommendation from PAC Partners.
Latin owns lithium projects in Argentina and copper projects in Peru.
Approvals are expected over the coming weeks with drilling expected to commence in December.
Latin Resources Ltd (ASX:LRS) has appointed Kerry Griffin as its exploration and development manager.
Chris Gale, managing director, commented: “We are very excited to have increased our lithium footprint into San Luis which we are confident will contribute to our aim of proving up significant lithium resources over the coming months.”
Latin Resources Ltd (ASX:LRS) has been granted seven mining tenements totalling over 70,000 hectares prospective for lithium in the province of Catamarca, Argentina.
The acquisition of the Ansotana project will firmly position LRS as a pre-eminent lithium hard rock exploration company in Argentina.
Recent rock chip sampling assays of 6.74% lithium and 6.97% lithium continue to show the potential of LRS’s exploration ground.
Two-thirds of the world’s lithium reserves are found in Chile, Bolivia and Argentina, in what is known as the ‘Lithium Triangle’.
Chris Gale, MD, commented: “This now allows high level technical exploration and drilling to start on the Pachamanca/MT-03 project by the First Quantum team in Peru. We are pleased that Latin will be free carried right through to a de
Applications for an addition 7,051 hectares of lithium exploration ground is further evidence of LRS executing on its strategy to acquire hard rock pegmatite concessions in Argentina.
Latin Resources and joint-venture partner Lepidico Limited have applied for 70,000 hectares of exploration tenements in Argentina. More than half of the world’s known lithium reserves are located in Argentina, Bolivia and Chile.
Latin Resources has received more support from sophisticated and professional investors in a capital raising to advance the company's renewed focus on lithium in South America.
Latin Resources' is expediting exploration by identifying and securing quality lithium bearing ores in Argentina. The company also has exclusive access to the L-Max technology. The next key catalyst will be securing ground.
The fund raising is amidst a tripling in the Latin Resources share price as investors look to the exploration upside at the company's South American projects.
Latin Resources and local partner Compania Minera Zahena are quickly improving the investment case for the Ilo Este porphyry copper project in Peru, with the latest drilling returning visible copper-bearing mineralisation.
Latin Resources has given itself an opportunity to transition into a small scale copper producer in a leading mining jurisdiction which houses global heavyweights Anglo America, Freeport and Antofagasta. Any copper rich ores produced could
Latin Resources is set to begin drilling imminently at its Ilo Este copper porphyry project in Peru, where a joint venture with a local explorer is targeting a region known to host 125 billion pounds of contained copper.
Proceeds from the placement of $500,000 worth of shortfall shares will be used to pay the Junefield convertible note and progress the company’s projects in South America. It is seeking investors to repay the balance of the shortfall.
The new porphyry copper target under the desert sands in southern Peru will be the subject of further activity over the coming months. Latin and First Quantum are on the way to unlock the potential of their strategic concession holding.
Latin Resource's PLR Services is forecast to generate sales of at least US$223,600 in 2015. The company expects proposals in the second half to provide additional 2015 income and so doing achieve what most juniors will never do.
The Filipina Project has the potential to be a cash flow producing and value creating opportunity for Latin Resources. The company now has an exclusive 45 day period to complete a due diligence to ascertain a project valuation.
Latin Resources wholly-owned subsidiary has signed a definitive contract under Peruvian Law granting a rights assignment and earn-in option to transfer 70% ownership of its Ilo Este Project to Peruvian firm, Compañia Minera Zahena SA
The reduction of the sale price and elimination of any cash obligations to the vendor until completion of the Definitive Feasibility Study increases the ability of the Guadalupito Project to attract a potential joint venture partner.
Concerns about a Greek debt default have sent the ASX200 down 2.2% to 5,422.5. Find out which company has completed a Bankable Feasibility Study for its high purity alumina project and is now looking to secure funding.
The renegotiated $2.5 million convertible note has cleared the majority of the company’s debt off its balance sheet while deferring the balance for 18 months.
Zahena will pay US$1 million in cash and US$3 million in exploration in return for a 70% interest in the Ilo Este Project. This will place exploration drilling on a fast track which has already provided a taste of its potential as a massive
Advanced negotiations are underway with a number of parties to secure funding to continue exploration, details are expected within a week. Ongoing drilling at Ilo Este has seen the first hole intersect 200 metres of continuous copper and go
Latin Resources One2One Investor Presentation 27th November 2013
Latin Resources aims to commence mining planning and production at Guadalupito; commence detailed exploration and drilling programs at Ilo Norte and its 100% owned Ilo Concessions; as well as identifying iron ore projects in Brazil. Managin
The 1.465B tonne total inferred Heavy Mineral (HM) resource upgrade at Guadalupito iron and HM project has been achieved by Latin Resources in just two years. The scale of this resource upgrade places Latin further down the road to mi
The Guadalupito Iron Sands Project Scoping Study by Ausenco has given Latin Resources the confidence to continue drilling to upgrade Resources at the project and to consider going ahead with Pre-Feasibility studies. The scoping study outcom
Latin Resources One2One Investor Presentation 29 Feb 2012
Ventnor Resources will be presenting at Proactive Investors 'Stars in 2012 Series' in Perth later this month, and will be joined by Legacy Iron Ore, Minemakers, Latin Resources and Mutiny Gold. The event is FREE, but you must register.
There is a cracking line up at the Perth 'Stars in 2012 Series', with Legacy Iron Ore, Minemakers, Ventnor Resources, Mutiny Gold and Latin Resources booked. The event is FREE, but you must register.
Latin Resources is not the only one to be in front of the lectern in Perth for the Proactive Investors 'Stars in 2012 Series', with Legacy Iron Ore, Minemakers, Ventnor Resources and Mutiny Gold booked. The event is FREE, but you must regis
Chris Gale of Latin Resources updates investors at the Proactive Investors One2One Investor Forum: "Emerging Stars in Resources" on 2 Feb 2011
With high grade assays of up to 64% iron and 5% titanium, and rare earth elements, Latin Resources' option and lease agreement over mining concessions in Guadalupito, Peru totalling 2,218h offers intriguing potential for the company.