Latin Resources extending gold holding in heart of prolific Lachlan Fold Belt

Latin Resources Ltd (ASX:LRS) is expanding its presence in the prolific yet underexplored Lachlan Fold Belt of Central West NSW that hosts world-class gold and copper-gold operations through the proposed acquisition of a portion of an historical goldfield. The company intends to acquire tenement ELA6024, the Burdett Gold Project, covering 252 square kilometres in the heart of the eastern portion of the belt and adjacent to the recently secured Manildra Gold Project. This area covers the north-western extension of the historical Lady Burdett goldfield where previous drilling and has shown grades of up to 7.82 g/t gold. “Becoming significant player” Managing director Chris Gale said: “The company is extremely excited to have acquired another project in the fantastic gold region of the Lachlan Fold. "The addition of the Burdett Gold Project to the company’s NSW portfolio adds another strong layer of prospectivity. "The company now controls a landholding of over 530 square kilometres, becoming a significant player in one of Australia’s highly sought after and proven world-class gold districts.” NSW Lachlan Fold Belt highlighting Latin Resources’ project locations. In prolific producing region The Burdett project is just 30 kilometres northwest of Newcrest Mining Limited’s (ASX:NCM) massive Cadia gold-copper operations and only 30 kilometres west of the regional city of Orange. It is also 60 kilometres west of Regis Resources’ large McPhillamys Gold Project, southeast of the operating Northparkes copper-gold project of China Molybdenum Co Ltd (CMOC) and south of Alkane Resources Limited’s (ASX:ALK) Tomingley Gold Operations. Burdett straddles the regional-scale Canowindra Shear Zone and is highly prospective for Orogenic Gold Mineralisation associated with this zone. Historic reporting of gold intersections suggests that the orientation of mineralised lenses may be east-west, within the north-south trending Canowindra shear structure, with the historical drilling orientated sub-parallel to the lenses. The 2-million-ounce McPhillamys project is hosted by similar Silurian age stratigraphy and within the regional Lachlan Transverse Zone. ELA 6024 project location and regional setting, highlighting major gold mines and deposits. Mapping and sampling Latin is planning detailed prospect-scale mapping and rock-chip sampling of the area to better understand the controls to mineralisation prior to further drill testing. Gale said: “We are now looking to commence our reconnaissance fieldwork to refine targets for our drilling campaign to commence in the first quarter of 2021. This again is another major step forward for the company.” Yarara progress Elsewhere on the Lachlan Fold Belt, and in southern NSW, Latin is continuing efforts at the recently acquired Yarara Gold Project by engaging with local landholders to enable on-ground exploration. Access has been secured over a number of key areas and historic mining centres while analysis and interpretation of historical data sets have been ongoing. The company continues to grow its geological understanding of the controls to mineralisation, with new target areas emerging for future testing and is keen to get on the ground as soon as possible. Trading halt Latin is currently in a trading halt with an announcement pending in relation to a capital raising. This halt will remain in place until the start of regular ASX trading on Monday, December 7, or when an announcement is released to the market.