Latin Resources on track for maiden resource estimate at Noombenberry Halloysite-Kaolin Project in May

Latin Resources Ltd (ASX:LRS) (FRA:XL5) is progressing towards a resource estimate at the Noombenberry Halloysite-Kaolin Project after latest results have again showcased the high-grade halloysite grades that are becoming synonymous with the project. The new batch of assays demonstrate strong halloysite and brightness values over significant widths, with best results including:  NBA159: 23 metres at 13% halloysite, 73% kaolinite, 80 ISO-B from 11 metres, including 12 metres at 22% halloysite, 71% kaolinite, 82 ISO-B from 11 metres, and 4 metres at 44% halloysite, 45% kaolinite, 84 ISO-B from 19 metres;  NBAC161: 23 metres at 19% halloysite, 70% kaolinite, 79 ISO-B from 11 metres, including 8 metres at 31% halloysite, 63% kaolinite, 82 ISO-B from 17 metres;  NBAC172: 40 metres at 6% halloysite, 82% kaolinite, 76 ISO-B from 8 metres, including 8 metres at 16% halloysite, 75% kaolinite, 79 ISO-B from 28 metres; and NBAC185: 9 metres at 13% halloysite, 77% kaolinite, 76 ISO-B from 8 metres, including 5 metres at 23% halloysite, 61% kaolinite, 78 ISO-B from 12 metres.  “Resource estimate a significant milestone” The resource estimation process for the project is on track for completion in May 2021.  Latin Resources exploration manager Tony Greenaway said: “With these final results now in our system; together with our independent resource consultants, we are excited to be on track to deliver our maiden JORC resource estimate for the Noombenberry Project next month.  “Given that our first drill holes at Noombenberry were only completed late in 2020 and first results not received until January 2021; this is a great achievement and is a testament to the hard work of everyone involved, including our in-house team and multiple specialist consultants and laboratories from across the country and internationally.”  Greenaway said the pace at which the Noombenberry Project was being advanced was an indicator of the confidence that the company had in this project.  He said: “The results that have been returned from drilling have been nothing short of exceptional, with the pending resource estimate marking a significant milestone for the company and its shareholders.” Noombenberry Project showing completed drilling in red, with the proposed area of new drilling coverage (magenta shading). Extensional drilling planned The company has received the statutory approvals for the next phase of planned aircore drilling at Noombenberry, which will be focused on testing extensional areas in parallel with the resource estimation process. Latin is preparing to commence drilling in the area immediately to the north and west of the current drilling pattern. The drilling will be aimed at extending the know high-grade kaolin and halloysite mineralisation into the company’s adjacent granted exploration tenure, with an initial 400-metre x 400-metre spaced drill pattern.  Pending results of analysis, this area may be incorporated in any future resource upgrade for the project.  Next steps Latin is now in a position to hand the current database over to independent resource consultants RSC Mining and Mineral Exploration, for the immediate commencement of the maiden mineral resource estimate.  The next stages of work to support the maiden JORC resource estimate include: Noombenberry site visit – scheduled for the week beginning May 3, 2021;  Finalisation of domain wireframes – underway; and Geostatistical data analysis and grade estimation.  The site visit to the Noombenberry by RSC and company representatives is expected to complete the Quality Assurance and Quality Control (QA/QC) checks on the project.  Notably, work programs are fully funded, with cash of $4.5 million at December, and over $1.3 million received from the early exercise of options in CY 2021 to date.