Latin Resources Limited: Catamarca Mining Concessions Granted
(firmenpresse) - CATAMARCA MINING CONCESSIONS GRANTED
HIGHLIGHTS
- 13 x Catamarca mining licenses (MDs) under application have been granted.
- Drill Permitting applications commenced in Catamarca for 2018 drilling programs at Loma Pelada and Ipizca I
5 June 2018, Latin Resources Limited (ASX: LRS) (Latin or the Company) is pleased to announce that 13 of the 14 companies Manifestacion de Descubrimiento (MDs) or mining licences on its Catamarca projects located in Argentina have now been granted. This takes the total concessions granted in Catamarca to twenty-one - 13 MDs and 8 exploration concessions.
Catamarca Projects -
The company recently applied to convert 14 of its exploration licenses (cateos) into mining licenses (MDs). These mining licenses now permit the pathway to the development phase for mining the concession. The areas converted covers existing mining areas and future zones which will be the focus of drilling over the coming months. Now the MDs are granted the company will have to right to proceed with mining operational permitting. These mining licenses will therefore secure LRS long term development plan.
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Table 1. LRS Catamarca Mining (application) and Exploration Concessions
The Latin Resources geology team has been working on two new prospects in the Catamarca project area in order to develop high quality drilling targets. Loma Pelada and Ipizca I are considered by LRS technical staff as being high quality prospects with the possibility of containing significant tonnages of lithium bearing pegmatites.
The company has commenced drill permitting on its lithium projects in Catamarca province with a number of new exciting targets recently identified. The frustrating and extended delays in permitting in the San Luis province has created the opportunity for Latin to refocus its attention with detailed field work being completed on some new project areas in Catamarca.
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Figure 1. LRS Current Granted Mining and Exploration Licenses
Loma Pelada is a prospect area that is located approximately 3km to the west of Villisman village in the El Alto area. Geological mapping in late 2017 identified several pegmatites with a strike length of over 700m and thicknesses up to 7m containing widespread spodumene mineralisation. There is the possibility that this project contains multiple sheeted pegmatites in close proximity. Drill testing will confirm or dispel this theory.
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Figure 2. Lomo Pelada Planned Phase One Diamond Drilling
Ipizca I is a prospect area that is located approximately 5km to the north of Ancasti village in the Ancasti group of Catamarca concessions. An historical report (Balmaceda & Kaniefsky 1982, Characterizacion de IPIZCA I) notes the main pegmatite to be over 700m in length and vary from 2 - 7m in thickness. LRS staff are currently mapping this prospect to check its quality and so that optimal drill hole locations can be designed. Initially the team has encountered several adits containing a high percentage of pink spodumene in their walls which is very encouraging. They have also mapped out many additional previously unknown pegmatites in the area. These have been sampled also to assess their lithium potential.
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Figure 3. Recent LRS Geology Mapping
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Figure 4. Ipizca I Adit wall with widespread pink spodumene
For both 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. The total number of meters for the first phase is approximately 3,180. This drilling will cover the entirety of each prospect in wide spaced drilling to evaluate the overall scale and orientation of the prospects.
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Table 2. Catamarca First Pass Drilling at Lomo Pelada and Ipizca I
EIR permits for both prospects have been completed. The approval process is expected to take approximately 2 months. During that period the LRS team will continue to develop drilling targets.
Upon completion of the drilling and return of assays follow up resource definition drilling will be planned and undertaken where warranted.
Catamarca radiometric survey
An aeromagnetic and radiometric survey is planned in the 2nd half of 2018 with a total of 9,700km of flight lines covering the companies complete Catamarca land package to be flown. The survey is designed to obtain cost effective and valuable structural geology information through the magnetics and identify unmapped pegmatite outcrops via the radiometrics which picks up the high potassium signal given off pegmatites. The results will then be used to guide follow up ground mapping and sampling by LRS geologists.
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Figure 8. Aeromagnetic Survey Line Plan
Managing Director Chris Gale commented, The granting of all of our concessions in the province of Catamarca now gives Latin Resources a new focus especially with some recently discovered spodumene drill targets. The goal for Latin to define a JORC resource to add incredible value to the company is fast approaching
For further information please contact:
Chris Gale
Managing Director
Latin Resources Limited
+61 8 6181 9798
Brooke Picken
Pac Partners
Melbourne
+61 3 8633 9866
About Latin Resources
Latin Resources Limited is a mineral exploration company focused on creating shareholder wealth through the identification and definition of mineral resources in Latin America. The Company has secured over 263,000 hectares of exploration concessions in the lithium pegmatite districts of Catamarca, San Luis and Salta Provinces, Argentina as well as 28,000 hectares prospective for Cobalt in La Rioja.
The company also has a portfolio of projects in Peru and is actively progressing its Iron Oxide-Copper-Gold and Copper Porphyry projects in the Ilo region with its joint venture partner First Quantum Minerals Ltd.
info(at)latinresources.com.au
www.latinresources.com.au
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Datum: 05.06.2018 - 12:20 Uhr
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