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    LRS   AU000000LRS6

LATIN RESOURCES LIMITED

(LRS)
Delayed Australian Stock Exchange  -  12:31 2022-08-09 am EDT
0.0940 AUD   -3.09%
07/29LATIN RESOURCES : Application for quotation of securities - LRS
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07/27LATIN RESOURCES : Quarterly Activities Report and ESG Highlights - June 2022
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07/27Latin Resources Uncovers Lithium at Colina Prospect in Brazil
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LATIN RESOURCES LTD - NEW PEGMATITE ZONE AT DEPTH AT COLINA LITHIUM PROSPECT

06/28/2022 | 10:35am EDT

Latin Resources Limited (ASX: LRS) ('Latin' or 'the Company') is pleased to advise the latest assay results from diamond drilling at the Company's 100% owned high-grade Colina Lithium Prospect ('Colina'), one of several prospects within the Salina Lithium Project in Brazil, has confirmed the previously reported visual spodumene estimations in hole SADD016.

These results have surpassed all previous intersections, returning 25.24m @ 1.25% Li2O1 from the central area of the Colina Prospect. Mineralisation remains open to the south.

Latin Resources' Exploration Manager, Tony Greenaway, commented: 'Our drilling at Colina continues to return excellent results, with these latest assays from drill hole SADD016 being our best intersection to date, further highlighting this central zone of Colina as a priority area for the Company. 'The discovery of a new spodumene pegmatite at depth in hole SADD020, below all our previously reported pegmatites, has highlighted the upside at Colina. We know we have additional pegmatites to test further out to the west of Colina, and now we have proven the potential for additional stacked pegmatites at depth.

The more we drill at Colina, the better this prospect seems to get. Based on this newly discovered pegmatite, the Company will continue to push our drilling below our previous target depths to fully evaluate this emerging new zone. 'We are also very pleased to get some initial metallurgical test work underway. We have had very productive discussions with a number of specialist consultant groups during the recent PDAC conference including metallurgical, mining, and environmental permitting consultants. We outlined and have initiated some dense media separation test work, which will provide the Company with preliminary recovery and potential lithium concentrate grades, as well as providing guidance for a more detailed metallurgical test work program to be undertaken as part of the Company's strategy to fast-track our exploration activities to a Maiden JORC Mineral Resource.'

Cautionary note

In relation to the disclosure of visual results, the Company cautions that visual estimates of mineral abundance should never be considered a proxy or substitute for a laboratory analysis. Assay results are required to determine the widths and grade of the visual mineralisation in preliminary geological logging. The Company will update the market when laboratory results become available.

This Announcement has been authorised for release to ASX by the Board of Latin Resources.

Contact:

Chris Gale

Tel: +61 8 6117 4798

Web: www.latinresources.com.au

About Latin Resources

Latin Resources Limited (ASX: LRS) is an Australian-based mineral exploration company, with projects in Australia and South America, that is developing mineral projects in commodities that progress global efforts towards Net Zero emissions. In Latin America the Company focus is on its two Lithium projects, one in the state of Minas Gerais, Brazil and the other, the Catamarca Lithium Project in Argentina in which lithium is highly sought after as a critical mineral for electric vehicles and battery storage. The Australian projects include the Cloud Nine Halloysite-Kaolin Deposit. Cloud Nine Halloysite is being tested by CRC CARE aimed at identifying and refining halloysite usage in emissions reduction, specifically for the reduction in methane emissions from cattle.

(C) 2022 Electronic News Publishing, source ENP Newswire

All news about LATIN RESOURCES LIMITED
07/29LATIN RESOURCES : Application for quotation of securities - LRS
PU
07/27LATIN RESOURCES : Quarterly Activities Report and ESG Highlights - June 2022
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07/27Latin Resources Uncovers Lithium at Colina Prospect in Brazil
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07/26LATIN RESOURCES : Drilling continues to show high-grade Lithium - Salinas
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07/15LATIN RESOURCES : Change of Director's Interest Notice x 4
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07/15LATIN RESOURCES : Application for quotation of securities - LRS
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07/12Latin Resources Extends Colina Lithium Prospect in Brazil; Shares Up 3%
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Financials
Sales 2021 0,09 M 0,06 M 0,06 M
Net income 2021 -4,36 M -3,05 M -3,05 M
Net cash 2021 0,64 M 0,45 M 0,45 M
P/E ratio 2021 -9,27x
Yield 2021 -
Capitalization 189 M 132 M 132 M
EV / Sales 2020 202x
EV / Sales 2021 442x
Nbr of Employees -
Free-Float 91,4%
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Managers and Directors
Christopher Gale Managing Director & Executive Director
David Vilensky Independent Non-Executive Chairman
Sharnah Joanne Meier Administrator
Brent Jones Non-Executive Director
Pablo Tarantini Non-Executive Director
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