Proactive Investors - Run By Investors For Investors

Latin Resources receives approvals paving way for lithium drilling

Abundant spodumene is evident in an abandoned historic quarry within the project.
Map showing Argentina
The quarry was the first lithium mine in San Luis, commencing operations in 1936

Latin Resources (ASX:LRS) has had its Environmental Impact Report approved for the Maria del Huerto project in Argentina clearing the way for lithium exploration and drilling.

Further detailed mapping and sampling has been completed at the site which has generated targets for initial exploration and resource development drilling.

Circa 1,200 metres of diamond drilling and 3,000 metres of reverse circulation drilling has been planned to target the sheeted pegmatite mineralisation.

The target zone contains at least three, possibly four closely spaced pegmatites that are separated by 20-30 meters, dip at 50-60 degrees and extend over a 400-metre strike length.

It is the company’s intention to carry out the drilling at Maria del Huerto in conjunction with another project to reduce and share the cost of mobilising rigs and drill crews.

Chris Gale, managing director, commented

“Latin Resources is consistently adding value to its lithium landholding in Argentina by securing new lithium ground discovered by our in country exploration team.

“Latin now has over 90,000 hectares over hard rock pegmatites is San Luis province, one of the largest landholdings in Argentina.

“The approval of the environmental and drilling permit for Latin’s Maria de Huerto project will know allow us to commence drilling over the coming months.”

More exploration ground applied for

Latin has also recently submitted 10 new exploration concession applications covering 73,243 hectares in the San Luis Province, Argentina.

The submission comes after an evaluation was complete identifying possible pegmatitic outcrops using satellite imagery analysis and then ground trothing the outcrops to confirm they were pegmatites.

The company now has 98,030 hectares under application or agreement in San Luis Province.

Final agreement signed at Geminis Mine

Last week, the final agreement was signed with the owners of the Geminis Mine and Don Gregorio exploration concessions located in Argentina.

This solidifies the company’s pathway to 100% ownership of the prized historic lithium mine and allows the continuation with certainty of the steps required for the permitting to allow the resource development work to commence at the project.

READ NOW: Latin Resources identifies high-grade lithium at newly acquired Geminis Mine

Under the terms of the agreement, Latin now has six months to gain the approval of the environmental impact report and the reactivation plan.

This is a maximum time frame however it is the company’s intention to fast track this process to gain the approvals as quickly as possible.

View full LRS profile View Profile

Latin Resources Ltd Timeline

Related Articles

Boardroom photo
September 28 2018
Ian Hobson has more than 30 years professional accounting experience with commercial roles in Australia, the UK and Canada.
A map of New Zealand and its South Island
November 26 2018
The company focused on its tin-tungsten project in Cornwall is rationalising its portfolio.
The Geminis pegmatite in the San Luis region, a focus for Latin Resources’ planned exploration program
Thu
The ASX-listed company is focused on South American opportunities.

© Proactive Investors 2018

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use