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Latin Resources Ltd

Latin Resources eyes cobalt targets near historical cobalt mine in Argentina

Drill permitting applications commenced in Catamarca for 2018 drilling programs.

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Initial drill hole design has been completed

Latin Resources Ltd (ASX:LRS) has been granted three concessions totalling over 22,000 hectares at the La Rioja Cobalt Project in Argentina.

This clears the path for Latin to commence detailed exploration including trenching, geophysics and drill targeting to follow up on the broad mapping recently completed.

Latin’s three exploration licences cover prime cobalt exploration ground that surrounds the historical King Tut high-grade cobalt-gold mine.

Notably, the King Tut mine was operative in the early part of the last century and reportedly produced 60-80 tonnes of ore grading 1.3% cobalt between 1901-1902.

READ: Latin Resources continues to progress lithium, cobalt strategy in Argentina

Latin has also commenced drill permitting on its lithium projects in the Catamarca province of Argentina with a number of new exciting targets identified.

The company recently applied to convert about 40% of its exploration licences in Catamarca into mining licences (MDA’s).

Once the MDA’s are granted Latin will have the right to proceed with mining operational permitting. The MDA’s will, therefore, secure Latin’s long-term development plan.

Two high-quality drilling targets in Catamarca

Latin’s geology team has been working on two new prospects in the Catamarca project area to develop drilling targets.

Lomo Pelada and Ipizca I are considered to be high-quality prospects with the possibility of containing significant tonnages of lithium bearing pegmatites.

For both the prospects, initial drill hole design for a first pass drilling program using diamond drilling has been completed with current field work to refine the final hole locations.

This drilling will cover the entirety of each prospect in wide-spaced drilling to evaluate the overall scale and orientation of the prospects.

READ: Latin Resources focused on developing lithium resources at Maria del Huerto and Las Cuevas

Managing director Chris Gale said: “The granting of our concessions in the rich cobalt belt district of La Rioja now gives us the ability to define drill targets to then start drilling.

“We continue to have delays with permitting in San Luis so we will now turn our focus to some new exciting drill targets in Catamarca district.

“We will continue to persevere with San Luis permits and hopefully have the go-ahead to start drilling in this province as well very soon”

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