Latin Resources: Projects Update - Argentina
(firmenpresse) - Latin Resources: Projects Update - Argentina
HIGHLIGHTS
- New Argentina Exploration Manager
- Progress with San Luis Permitting
- Catamarca drill permits
- Funding
- Spodumene -Lithium carbonate pilot plant first stage testing completed
30th August, 2018 - Latin Resources Limited (ASX: LRS) (Latin or the Company) provides the following update on its various projects located in Argentina, South America.
Latin Resources is pleased to announce the appointment of Mr Samuel Moyle as its new Exploration Manager for Argentina.
Mr Moyle has 8 years professional experience in mineral exploration and resource development having previously held roles at TNG Ltd, FMG, Hot Chili Ltd and Pilbara Minerals throughout Australia, Chile and Argentina.
Mr Moyles most recent experience was as Senior Exploration Geologist at Pilbara Minerals Pilgangoora Lithium Project where he played a significant role which enabled the discovery of a Measured, Indicated and Inferred JORC Resource of 213.3Mt (at) 1.32% Li2O and 116ppm Ta205 containing 2,818,000 tonnes Li20, and including 54Mlbs Ta205. This has given him a depth of knowledge to successfully explore Latins extensive Lithium landholding in Argentina and aggressively progress Latins best lithium projects through to JORC compliancy.
Sams qualifications include a Bsc (Mineral Exploration & Mining Geology) and a GCert (Mineral Economics) from Curtins West Australian School of Mines and the Curtin Business School. He is a member of the Ausimm.
Projects Update
The Managing Director of Latin Resources has recently met with the new Mining Secretary for the San Luis province to ascertain the timeline of having the Company's concessions granted along with the necessary drill permits. The meeting was very positive and Latin Resources is confident that permitting in San Luis is close to fruition. As soon as the relevant permits are approved drilling will then commence on selected projects within San Luis.
In addition, the Company has commenced drill permitting on its lithium projects in Catamarca province with a number of exciting new targets recently identified with drilling to commence thereafter. Latin holds over 76,700 hectares on 21 concession areas in the Catamarca province.
The company recently applied to convert 14 of its exploration licenses (cateos) into mining licenses (MDs) in the province of Catamarca. On the 5th June 2018 the Company announced that 13 of its 14 Manifestacion de Descubrimiento (MDs) or mining licences on its Catamarca projects located in Argentina had been granted. This takes the total concessions granted in Catamarca to twenty one - 13 MDs and 8 exploration concessions.
These MD mining licenses now facilitate a pathway to the development phase for mining the concession areas. The MDs recently converted cover existing mining areas and future zones which will be the focus of drilling over the coming months. Now that the MDs are granted the Company has the right to proceed with mining operational permitting. These mining licenses secure the Companys long term development plan within the Catamarca region.
http://www.irw-press.at/prcom/images/messages/2018/44438/180830 Exploration Update Announcement August 2018 _FinalPRcom.001.jpeg
Figure 1. LRS Current Granted Mining and Exploration Licenses
http://www.irw-press.at/prcom/images/messages/2018/44438/180830 Exploration Update Announcement August 2018 _FinalPRcom.002.jpeg
Figure 2 - Large unexplored Pegmatites in the northern Catamarca LRS Concessions
Funding - Lind Partners
Latin Resources announced on 19th June 2018 that a $6 million Convertible Security Funding Agreement (CSFA) with an optional equity earn-in to Latins Argentinean lithium projects had been executed with Lind Asset Management XII,LLC, an entity managed by The Lind Partners New York (Lind). The initial investment has and will provide working capital to pursue exploration activities including the commencement of drilling at the Companys lithium projects.
UnCuyo University, Mendoza, Argentina
The University has completed the first stage test work on the spodumene to lithium carbonate process pilot plant in Mendoza, Argentina. The first stage test work assay results are expected to be released very shortly. The trials are to test the patented process to convert spodumene concentrate to lithium carbonate product required by the battery market. The Company has secured an exclusive licence to the technology being developed by UnCuyo University.
JV Negotiations
The Company advised the ASX on 13th November 2017 that it was in preliminary discussions with a number of different parties in relation to potential joint venture agreements or offtake arrangements in respect of its lithium assets in Argentina. The completion of the due diligence revealed and confirmed a technically strong project pipeline for defining a lithium JORC resource - however, due to the permitting delays in the province of San Luis discussions were discontinued.
There remains strong interest from a number of parties to enter into a JV with the Company once the permitting issues are resolved.
Managing Director Chris Gale commented, We are extremely pleased by the appointment of Sam Moyle as our new exploration manager to utilise his very sound knowledge and experience on hard rock lithium pegmatites in the WA Pilbara to develop our exciting lithium projects in Argentina. Sam is currently in Argentina familiarising himself with our projects. I am very confident that our San Luis projects will be permitted for drilling soon which in turn will enable the Company to move forward with our objective of developing the Companys maiden JORC resource.
We have also secured a solid funding arrangement with Lind Partners that finances our exploration including our drilling program.
For further information please contact:
Chris Gale
Managing Director
Latin Resources Limited
+61 8 6117 4798
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.
Latin Resources recently divested its other Peruvian copper projects into Canadian listed company Westminster Resources (TSX-V; WMR) and is now Westminster's largest shareholder.
info(at)latinresources.com.au
www.latinresources.com.au
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Datum: 30.08.2018 - 11:54 Uhr
Sprache: Deutsch
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