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Latin Resources Ltd granted further lithium ground, drilling soon

Approvals are expected over the coming weeks with drilling expected to commence in December.

Latin has been granted more tenements.

Latin Resources Ltd (ASX:LRS) has been granted its final two tenements totalling 7,050 hectares, which expand the now 76,700 hectare Catamarca lithium project in Argentina.

The drilling of the Catamarca project will commence once the environmental study along with the drill permits are approved by the Catamarca mining authorities.

Approvals are expected over the coming weeks with drilling expected to commence in December.

Chris Gale, managing director, commented: “The granting of the final two concessions allows Latin Resources to commence drilling once the approval of the permit occurs.

“The added bonus of not only having lithium rich pegmatites in our concession package but existing historical lithium mines to drill is incredibly encouraging for our exploration team.”

New tenements

The final two exploration tenements now granted cover the Vilisman and Ancasti project areas, each with past lithium mining activity and together hosting more than twenty lithium bearing pegmatite deposits.

The combined non-JORC estimates of spodumene content within 15 metres of surface of 12 of these deposits within the final two tenements now granted are in excess of 120,000 tonnes.

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 1950s and 1970s.

Analysis of three samples collected within these final two tenements now granted reported grades of 7.1%, 6.3% and 4.9% lithium oxide.

New exploration manager

Kerry Griffin, the new exploration manager, has arrived on site in Argentina and has commenced the necessary steps of preparing the site for drilling.

This includes mapping, sampling, trenching and drilling techniques with appropriate chemical analysis.

Griffin has circa 21 years professional experience in mining geology, resource development and exploration in Australia, Africa, South America and Asia.

This includes senior roles with Newcrest Mining, Sons of Gwalia, Consolidated Minerals, Ivanhoe Mines, Aspire Mining Ltd, Haranga Resources Ltd, Lindian Resources Ltd and Altan Rio Ltd.

Quick facts: Latin Resources Ltd

Price: 0.049 AUD

Market: ASX
Market Cap: $58.55 m

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