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Latin Resources heads to market

Published: 09:41 14 Jul 2014 AEST

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Latin Resources (ASX:LRS, SETSQX:LRS, OTCQX:LNRDY) has been granted a trading halt this morning by the ASX, pending the release of capital raising details.

Last week LRS had a Drilling Permit approved by Peruvian Ministry of Energy and Mines to allow drilling to commence at Ilo Este.

Ilo Este is a significant copper-gold porphyry system with recent rock chip and soil samples showing high anomalous values of up to 8.4%.

Highlighting the prospectivity of the area, over 560,000 tonnes per annum of copper production and 125 billion pounds of copper in published resources and reserves is within 130 kilometres of Ilo Este.

In 2014 LRS is also looking to explore its iron ore project in Brazil.

The halt will remain in place until the opening of trade on Wednesday 16th July 2014, or earlier if an announcement is made to the market.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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