Latin Resources unveils positive initial gold results from Peep O’Day sampling at Yarara Project

Latin Resources Ltd (ASX:LRS) (FRA:XL5) is highly encouraged by positive results from a first-pass reconnaissance rock chip sampling program at Peep O’Day Gold Prospect within the Yarara Joint Venture (JV) Project in the prolific Lachlan Fold Belt of NSW. The ASX-lister analysed 57 rock chip samples in the area, with gold grades peaking at 9.7 g/t. Several other samples also returned grades greater than 1.0 g/t gold. Latin is already following up the promising results, with a close-spaced soil sampling program underway. The company also intends to fly a detailed drone-magnetic survey in a bid to highlight what appears to be an inflection in the north-south trend, which may hint at a favourable target area for mineralisation. Initial results “encouraging” Latin Resources exploration manager Tony Greenaway said: “While it is still early days, these initial rock chip results from the Peep O’Day Prospect are encouraging given this area has little to no previous systematic regional exploration, and certainly no previous drilling. “Our field team is back out on site completing a close-spaced soil sampling program so that we can confirm and better understand the broader system at the Peep O’Day Prospect.” Sampling program Latin’s reconnaissance rock chip sampling program forms part of a broader campaign to better understand the mineralisation along historical workings within the Peep O’Day gold trend. Peep O’Day gold prospect showing rock chip sample location and gold grades. Promisingly, results from samples along the strike extent of the workings have shown distinct clusters of gold mineralisation, indicating the system may be open and extend to the north and south under cover. All up, around 30% of the samples collected returned gold grades greater than 1.0 g/t. Some of the better results from individually sampled veins included 9.78 g/t gold, 8.58 g/t, 8.41 g/t and 7.79 g/t, with the altered wall rock returning grades up to 4.53 g/t. What’s to come? Latin has already kicked off a detailed systematic surface geochemical sampling program at the gold exploration asset to better define its gold trend. A drone magnetic survey is also slated for the coming weeks, which aims to better define the interpreted gold trend and help plan further work. Based on the results from the geochemical sampling and geophysical survey, Latin may consider conducting additional on-ground exploration work in the wider Peep O’Day area. This could include additional grid mapping, infill soil sampling and trenching across the interpreted mineralised trend. Yarara JV and the Lachlan Fold Belt Latin’s Peep O’Day Prospect forms part of the broader Yarara JV Project. One year ago, the company signed a binding terms sheet with Mining and Energy Group Pty Ltd to earn up to a 75% interest in Yarara. The gold play sits within the Lachlan Fold Belt, a well-established gold-copper mineral province that hosts several world-class mining operations, such as Cadia, Northparkes, Tomingley, Cowal and Peak Hill mines. Today’s sampling results come just one week after Latin expanded its holding within the Lachlan Fold Belt north of Yarara in central NSW. Overall, the ASX-lister secured three new tenements within the iconic gold belt, covering around 570 square kilometres. Latin’s new Manildra and Burdett projects boast known gold and copper occurrences, while its Boree Creek tenement application hosts known copper mineralisation.