Latin Resources Noombenberry tests highlight some of highest grade halloysite and kaolin assays in Australia

Latin Resources Ltd (ASX:LRS) (FRA:XL5) ongoing test results from the Noombenberry Project in Western Australia are showing some of the highest grade halloysite and kaolin assays in Australia, including a 41% halloysite assay. Results continue to show consistent high-grade halloysite and ultra-bright white ISO-B values over significant widths close to surface. Hole NBAC119 returned 26 metres at 24% halloysite, including 8 metres at 35% halloysite and an individual 4-metre composite sample returning 41% halloysite. “High-quality kaolinite blanket open in all directions” While there are still some XRD and XRF results to be returned, these widespread patterns of ultra-bright white kaolinite saprolite across the full extent of area drilled, containing high-grade pods of halloysite, provide Latin Resources with confidence that the upcoming maiden mineral resource estimate will be a significant and transformative milestone for the company. Latin Resources exploration manager Tony Greenaway said: “We are all extremely pleased to see the Noombenberry Project advancing as it is.  "We are continuing to see the very high grades of halloysite together with the ultra-bright kaolinite in our latest results. "With all of the brightness testing now completed, we can clearly see the extent of the high-quality kaolinite blanket across the tenement area that we have drill tested, and that this remains open in all directions. "This provided us with a very high degree of confidence in our project as we move forward into the development of the maiden resource estimate.” Noombenberry Project showing maximum down-hole brightness across the drilled grid. Impressive halloysite and brightness values The other results from the test-work have continued to show impressive halloysite and brightness values over significant widths.  Best results include: NBAC081: 41 metres at 12% halloysite, 72% kaolinite, 81 ISO-B from 6 metres, including 12 metres at 24% halloysite, 52% kaolinite, 82 ISO-B from 22 metres;  NBAC076: 18 metres at 4% halloysite, 81% kaolinite, 83 ISO-B from 5 metres; and NBAC047: 23 metres at 5% halloysite, 73% kaolinite, 75 ISO-B from 7 metres including 11 metres at 10% halloysite, 62% kaolinite, 68 ISO-B from 19 metres. Selected significant composite results from the recently received test-work results from the Noombenberry Project. Maiden resource estimate in May The company continues to work in the background to enable the fast-tracking of the resource estimate once all results are received with the maiden JORC resource anticipated to be released in May. Greenaway said: “Working closely with our resource estimation partners at RSC, we are steadily progressing what we can in the background, while the final few results are returned. "The completion of the initial geological model is a big step forward and provides significant insight as to what we might expect of the final estimation outcome. “We are well on track to have this process completed within our original time frame of Q2 2021.” Survey teams have undertaken a detailed ground survey and drill collar pick-up, enabling the construction of a digital terrain model (DTM), of the project area which has been incorporated into the geological model - which is currently being built using Leapfrog software.  The base geology model (cover sequence/saprolite clays/ basement) is well advanced, with the preliminary model now completed. Noombenberry Project showing completed aircore drill sites. Scoping study discussions underway The company is in detailed discussions with specialist consultants to commence an initial scoping study once the maiden JORC resource is completed.  The successful scoping study will then generate a development business case to commence a detailed pre-feasibility study to fast-track development plans for the project. The initial discussions have highlighted that the Noombenberry project has several positive attributes that could enable it to become a fast-track development project, including: Potentially an easily minable project with low strip ratio; The potential characteristics of the halloysite in the deposit put it in the best of breed category for hydrogen and carbon capture as well as other nanotechnology applications; Potential world-class technology development partners to carry out research and development programs in the hydrogen and carbon capture sectors; The product could be particularly suitable for the high-end paper and ceramics market sectors; The potential to produce a DSO product to establish early cashflow; and Close to accommodation and road/rail links to a port.