High-Grade Halloysite Intersected At The Cloud Nine Deposit

Latin Resources Limited (ASX: LRS) (“Latin” or “the Company”) is pleased to announce that further outstanding halloysite results have been returned from ongoing XRD analysis of the close spaced drilling conducted at the Company’s 100% owned Noombenberry Kaolin-Halloysite Project near Merredin, Western Australia (Appendix 1).

HIGHLIGHTS:

• Consecutive holes demonstrate excellent continuity of high-grade halloysite bearing kaolinised granite from within the Cloud Nine Mineral Resource area.
• High-grade halloysite results have been received from the next 14 holes in the geostatistical cross drilling program. Significant intersections include:
  • NBAC366: 9m @ 18% Halloysite from 28m to EOH Incl: 2m @ 47% Halloysite from 28m
  • NBAC367: 18m @ 17% Halloysite from 24m to EOH
  • NBAC368: 19m @ 23.4% Halloysite from 13m Incl: 2m @ 50% Halloysite from 19m
  • NBAC369: 6m @ 18% Halloysite from 7m and 13m @ 19% Halloysite from 19m Incl: 2m @ 30% Halloysite from 19m
  • NBAC373: 3m @ 18% from 3m and 15m @ 21% Halloysite from 10m
  • NBAC374: 16m @ 25% Halloysite from 9m to EOH
  • NBAC375: 9m @ 36% Halloysite from 14m to EOH
• Moving forward, significant cost savings and improvements in sample throughput will be achieved by LRS through the approved use of the FTIR and Machine Learning (ML) approach.
• Recent drilling results and ongoing drilling in Q1 2022 will drive an update to the JORC Resource Estimate for the Cloud Nine deposit, designed to increase confidence levels to Indicated and potentially Measured status.
• Significant laboratory delays continue to impact the Company’s ability to announce results from the Cloud Nine drilling program in a timely manner.

Within the Noombenberry Project, the Company has identified and reported a JORC-2012 Inferred Mineral Resource of 207Mt of kaolinised granite at the Cloud Nine deposit, which includes separate domains containing 123Mt of bright-white kaolinite and 84Mt of kaolin/halloysite-bearing materialⁱ.

The most recent halloysite results further demonstrate the consistent nature of the high-grade halloysite bearing material within the area tested at Cloud Nine and further strengthens Noombenberry’s position as a globally significant halloysite project.

The Company will report the XRD results from the remaining 12 drill holes from the close-spaced geostatistical cross drilling program, as they become available.

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