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Latin Resources Limited (ASX: LRS) (“Latin” or “the Company”) is pleased to provide an update for recent activities and next steps in relation to the advancement of its 100% owned Cloud Nine Halloysite‐Kaolin Deposit (“Cloud Nine”) in Western Australia. The Company released its maiden Mineral Resource Estimate (“MRE”) of 207Mt Inferred Resources at Cloud Nine in May 20211.
HIGHLIGHTS
- Significant thicknesses of exceptionally bright kaolinised granite intersected in the Resource in‐fill drilling, further highlighting the quality of the world class Cloud Nine Halloysite‐Kaolin deposit. Significant intersections include:
- NBAC459: 43m @ 85.4 ISO‐B from 7m
- NBAC397: 38m @ 85.3 ISO‐B from 12m
- NBAC413: 25m @ 85.2 ISO‐B from 17m
- NBAC442: 21m @ 85.2 ISO‐B from 6m
- Geotechnical drilling for bulk density determination has been successfully completed at the Cloud Nine Halloysite‐Kaolin Deposit.
- Bulk density measurements are a vital step in the path to an updated Cloud Nine JORC Resource which is currently being undertaken.
- Permitting and approvals process has commenced to enable the excavation of a trial mining test‐pit.
- The Company has previously reported its maiden JORC (2012) Inferred Mineral Resource of 207Mt of kaolinised granite including a sub‐domain of 50Mt grading 6% halloysite1 – making Cloud Nine one of the largest undeveloped kaolin‐halloysite deposits in Australia.
RESOURCE IN‐FILL DRILLING
To date, nearly two thirds of the composites from the Cloud Nine Resource in‐fill drilling program have been analysed for brightness (Figure 1). The remaining holes’ sample analysis has benefited from optimising the analysis pathway, coupled with a drop in COVID‐related staffing issues at the laboratory. The remaining results are expected towards the end of July.
The drilling thus far2 has returned significant, near surface thicknesses of kaolinised granite with brightness values above 85 ISO‐B. A total of 66% of the drill holes analysed so far, returned results above 80 ISO‐B, with selected significant results >85 ISO‐B including:
Table 1: Selected significant Cloud Nine kaolin brightness intersections (>85 ISO‐B)
Figure 1: Drillholes with brightness results received and pending, from the Cloud Nine Resource in‐fill drilling
SONIC GEOTECHNICAL DRILLING
The recently completed sonic geotechnical drilling program, comprising 9 PQ (85mm) drill holes for 365 metres, was designed to provide representative core samples from within the footprint of the existing JORC MRE (Figure 2).
The in‐situ dry bulk density data is an integral part of the ongoing resource estimation work at Cloud Nine and will improve the confidence levels in the current Inferred JORC Resource, while the geotechnical data is required for the mine design and scheduling work currently underway as part of the Company’s Pre‐Feasibility Studies (“PFS”) and other studies.
Figure 2: Cloud Nine – location of sonic drill collars
REGIONAL AEROMAGNETIC SURVEY
The Company has engaged Southern Geoscience Consultants (SGC) to manage a high detail airborne magnetic and radiometric survey covering the Company’s extensive regional tenement package (Figure 3). The regional survey will assist in defining further exploration targets along almost 105 kilometres of prospective tenure and comprises over 13,800 line kilometres on 50 metre spaced east west lines.
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This article includes content from Latin Resources Limited (ASX: LRS), licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
LRS:AU
Spodumene Pegmatite Discovery at Esperança Project in Brazil Yields LIBS Results up to 4.04% Li2O
The discovery has been made during early-stage exploration programs which include project scale geological mapping, ground reconnaissance, and soil sampling. These early-stage programs remain ongoing with further results to come over the coming weeks. The discovery supports the Company’s exploration thesis and uplifts the remaining prospectivity across all three project areas: Canabrava, Caraíbas and Esperança projects.
HIGHLIGHTS
- Artisanal excavations reveal a lithium bearing pegmatite with elongate crystalline spodumene crystals up to 50cm in length
- LIBS (Laser Induced Breakdown Spectroscopy) results of spodumene crystals return up to 18,800 ppm Lithium, or 4.04% Li2O
- Discovery provides walk up drill target for fully funded drilling campaign to begin Q1 2025
- Soil sampling and geological mapping continues across the Esperança, Canabrava and Caraíbas projects with further results due over the coming weeks
Lightning Minerals Managing Director Alex Biggs said, “I am highly encouraged by these results from Brazil. As I have spoken about, as a team we are committed to discovery and completing our works in a diligent and structured manner, the proof of which is in these results. The Company is progressing its projects in Brazil quickly and cost effectively and generating significant results for the business which we feel will be transformational. I am proud of and congratulate our geology teams both in Australia and Brazil who have conducted themselves in a professional and astute manner which has been crucial in making a discovery such as this. This is a great first step for us in Brazil and is testament to the prospectivity of the region as I have discussed previously. We look forward to drilling in Q1 2025 and further results to come imminently from all three project areas in Brazil. I would also like to thank our shareholders who have supported our vision and exploration strategy. As a Company we are firmly committed to the lithium thematic and firmly committed to Brazil where we see significant potential moving forwards”.
Lithium Discovery at Esperança Project
During geological mapping fieldwork conducted in mid-November 2024 field geologists encountered a previously unknown historical artisanal mine within the Esperança project area. The site presented with a small access which opened into a set of sub vertical shafts sunk several meters into schists of the Salinas formation. Upon investigation the geology team has discovered pegmatitic lithologies in the walls of the excavations, of which the suite of minerals indicates inclusion of macro crystalline (up to 50cm) elongate crystals of spodumene as shown in Figure 1(a) and Figure 1(b).
Figure 1a (left): Brazilian geologist Vitor Araujo Alves showing the spodumene rich portion of the zoned pegmatite discovered at the Esperança Property. Figure 1b (right): Large elongate spodumene crystals (Spd) up to 50cm in length showing homogeneous growth patterns amongst a quartz (Qtz) and Feldspar (Fdsp) rich matrix
The Company’s geologists have collected selective mineral specimen grab samples in sample VLM207 (Figure 2). Six separate minerals have been analysed via a SciAps Z-903 hand-held LIBS (Laser-Induced Breakdown Spectroscopy) device which has returned lithium endowment of up to 18,800 ppm lithium, which equates to a lithium oxide percentage of 4.04% Li2O.
The SciAps Z-903 handheld LIBS device is considered a qualitative analysis technique only and is used as an in-field preliminary check to establish if a mineral is lithium-bearing. Certified laboratory assays are required to provide accurate, quantitative analysis. A table of the six SciAps Z-903 handheld LIBS results testing the spodumene crystals is shown in Table 1. A full table of results are presented in Appendix 2, Table 2.
While the current field observations indicate that the mineral identified is a lithium-bearing mineral, the percentage of lithium produced from the LIBS analyser does not correlate to an accurate quantitative measurement of the lithium concentration of the mineral itself, or to the overall grade of the pegmatite.
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This article includes content from Lightning Minerals, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
