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Latin Resources Ltd

Latin Resources continues to progress lithium, cobalt strategy in Argentina

Initial field work completed near the historical King Tut cobalt mine in Argentina.

a thumbs up sign in Argentina flag colours
Drilling at Maria De Huerto to commence after getting the permit

Latin Resources Ltd (ASX:LRS) is continuing to make progress at its lithium, cobalt projects in Argentina and copper projects in Peru.

READ: Latin Resources enhances lithium strategy in Argentina with additional prospects

Latin managing director Chris Gale said: “The company is set to start drilling its Argentina lithium projects and its Copper projects in Peru which will hopefully produce some positive results.

“The exploration team in Argentina has spent considerable time in the field to define next targets once permits are approved.”

La Rioja Cobalt project in Argentina

Latin has conducted initial field work on the La Rioja concession applications in Argentina which surround the historical King Tut cobalt mine.

A total of 39 rock chip samples have been taken from this campaign and submitted for testing base and precious metals including cobalt.

These results are expected mid to late April. Ongoing field work will continue during the second quarter.

Maria De Huerto in San Luis, Argentina

Latin’s claims include the Maria Del Huerto deposit, which was mined between 1936 and 1940 and was one of the first spodumene deposits in the San Luis Province to have good grades.

Negotiations are continuing with contractors to finalise drill contracts subject to permitting.

Lithium carbonate for the battery market

The UnCuyo University in Mendoza, Argentina has commenced construction of the test bench process pilot plant with monetary contribution provided by Latin.

UnCuyo’s trials are to test a patented process to convert spodumene concentrate to a lithium carbonate product required by the battery market.

The completion of the pilot plant build is expected in April with trials to commence shortly after.

Sale of Peruvian copper assets

Latin is progressing drill target identification at the Pachamanca/MT-03 copper project in Peru along with Canadian mining giant First Quantum Minerals Ltd (TSE:FM), which is earning into the project.

The drill design process is being completed to conduct a drill program once drill permits have been approved.

The company recently received the initial cash payment of US$150,00 from the sale of its Ilo Copper Project in Peru to Westminster Resources (CVE:WMR) for a total consideration of circa $6.8 million.

Latin’s focus is largely on its portfolio of battery mineral assets, and funds from the divestment of the Ilo Copper Project will assist in progressing these interests.

Quick facts: Latin Resources Ltd

Price: $0.02

Market: ASX
Market Cap: $2.8 m
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