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Latin Resources has news pending of a proposed joint venture

The company has been granted a trading halt until Monday, September 9, or when an announcement is released.

Latin Resources Ltd - Latin Resources has news pending of a proposed joint venture

Latin Resources Ltd (ASX:LRS) has an announcement pending in relation to a proposed joint venture and has been granted a trading halt by the ASX.

The halt will remain in place until the start of normal ASX trading on Monday, September 9, or when an announcement is released to the market, whichever occurs earliest.

Focus on lithium in Brazil

LRS has recently switched its focus to the world-class Minas Gerais lithium region of Brazil after enduring an ongoing lengthy wait for permitting in Argentina.

The company is excited by the lithium potential presented by the prolific yet underexplored region and has a number of priority targets in the Jequitinhonha Valley region.

Near active players

These targets are in proximity to the projects of active eastern Brazilian pegmatite province players Sigma Lithium Resources Corp (CVE:SGMA) (OTCMKTS:SGMLF) and Companhia Brasileira de Lítio (CBL).

Sigma has drilled out a world-class lithium resource base which stands at 45.7 million tonnes at 1.38% Li2O to date while CBL is mining spodumene pegmatites, producing a spodumene concentrate.

The former is focused on 10 high-grade hard-rock lithium pegmatites, nine of which were past-producing lithium mines, and has reported more than 200 pegmatites within its tenure.

CBL’s concentrate is transferred to a chemical plant in Divisa Alegre, Minas Gerais, where it is transformed into industrial-grade lithium hydroxide.

Quick facts: Latin Resources Ltd

Price: 0.01 AUD

ASX:LRS
Market: ASX
Market Cap: $6.41 m
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