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Latin Resources Ltd remains a lithium front-runner in Argentina

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.

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Latin Resources Ltd (ASX:LRS) have lodged applications for an additional 7,051 hectares across two tenements in Argentina.

This builds on the recently made applications for 70,000 hectares of lithium exploration tenements made with joint-venture partner Lepidico Limited in Argentina.

The two most recently lodged tenements cover the Vilisman and Ancasti pegmatite groups which each host a number of well documented lithium bearing pegmatite deposits.

These deposits have been historically mined for lithium, beryl, tantalum and feldspars during the 1950s and 1970s.

Four samples collected by LRS from old mine workings in three pegmatite deposits within the new claim applications reported grades of 6.6%, 7.1%, 6.3% and 4.9% lithium.

LRS intends to undertake mapping, sampling, trenching and drilling to prepare Mineral Resource estimates.


Chris Gale, managing director, commented:


“These claims now cement the company’s position in this important lithium district and we are still broadening the search for lithium in other documented pegmatite fields such as Salta and San Luis.

“In Catamarca, we can now focus on the next stage of carrying out mapping, trenching and drilling with the aim of proving up a lithium resource.”


Background

LRS and joint-venture partner Lepidico Limited, have now applied for over 77,000 hectares of exploration tenements in Argentina which have been lodged at the Catamarca Province mines office.

LRS is a first mover in the hard rock lithium mining space and is quickly executing its strategy to become a significant lithium player in one of the world's best jurisdictions.

More than half of the world’s known lithium reserves are located in Argentina, Bolivia and Chile.


L-Max technology

The joint venture proposes to utilise the proprietary Lepidico L-Max technology to extract lithium from mica ores.

The L-Max process is a disruptive technology that delivers an opportunity to create a third supply source of lithium, namely lithium bearing micas such as lepidolite and zinnwaldite.

Lepidico has already granted its first licence of the technology to Lithium Australia NL (ASX: LIT).

Lepidico has been successful in running the L-Max process in a mini plant that ran continuously for 10 days. This mini plant run was highly successful, producing high purity 99.57% lithium carbonate at a recovery level of 94%.


Analysis


These 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.

The "game-changer" for the company is access to the L-Max disruptive technology, which delivers an opportunity to create a source of lithium, namely lithium bearing micas such as lepidolite and zinnwaldite.

LRS has also recently increased its cash position, so it can now speed-up exploration.

The company has commenced fieldwork ahead of its goal to identify a JORC-compliant Mineral Resource estimate.

The share price continues to track higher, up 220% year to date, currently trading at $0.016 per share.

 

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ASX:LRS
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Market Cap: $1.4 m
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