Latin Resources Limited (ASX: LRS) ('Latin' or 'the Company') is pleased to report the results from the recent rare earth element (REE) analysis at its 100% owned Cloud Nine Halloysite-Kaolin Deposit ('Cloud Nine') in Western Australia.
The results have confirmed REE mineralisation with anomalous concentrations in 38% of the samples. Analysis was conducted on a small random selection (one out of every 20) of existing 1000 ppm; five have TREO concentrations >3500 ppm, with a maximum TREO value of 3617 ppm. Importantly, a large proportion of the TREO encountered in analysis are the in-demand magnetic rare earth oxides (MREO), which are a critical component of high-performance magnets used for climate economy products such as electric vehicles and wind turbines. The key magnetic rare earth oxides are neodymium (Nd) and praseodymium (Pr) which form the majority of the MREO mix in the samples.
The Company believes these results are encouraging and warrant further analyses to identify the extent of the REE mineralisation encountered at Cloud Nine. Latin has engaged RSC, an experienced geological consulting service company, to provide an independent review of the REE data, incorporated in this update.
Latin Resources Managing Director, Chris Gale commented: 'The initial analyses for REEs are highly encouraging with a high proportion of magnetic rare earth oxides which are critical to the battery evolution. 'In particular, these rare earth commodities are key components in the creation of permanent magnets used in wind turbines and electric vehicle motors, making them crucial for the ever-growing renewable energy transition. 'These findings warrant additional evaluations to explore the potentiality of REEs within our halloysitekaolin deposits at Cloud Nine. We see these early findings as an exciting step in further expanding Latin's efforts to build projects to progress global efforts to net zero emissions'
The results of these wide-spaced samples show the potential for REE at Cloud Nine; additional samples will now be analysed to define the extent of REE mineralisation. Leach tests (e.g. weak aqua regia, ammonium sulphate) will also be performed to determine whether the REE mineralisation can be classified as ionic-adsorption-type (weakly adsorbed to the surface of kaolinite and halloysite) or whether REEs are related to other mineral species in the regolith profile. Since the geology and geometry of the kaolinite-halloysite domains and the weathering profile at Cloud Nine are well established2 , the resource estimate model can be rapidly updated with REE concentrations once further analyses are received.'
This announcement has been authorised for release to ASX by the Board of Latin Resources.
Contact:
Chris Gale
Executive Director
Latin Resources Limited
T: +61 8 6117 4798
Fiona Marshall
Senior Communications Advisor
White Noise Communications
T: +61 400 512 109
E: info@latinresources.com.au
WEB: www.latinresources.com.au
About Latin Resources
Latin Resources Limited (ASX: LRS) is an Australian-based mineral exploration company, with projects in South America and Australia, that is developing mineral projects in commodities that progress global efforts towards Net Zero emissions. The Company is focused on its flagship Salinas Lithium Project in the pro-mining district of Minas Gerais Brazil, where the Company has its maiden resource drilling definition campaign underway. Latin has appointed leading mining consultant SGS Geological Services to establish a JORC Mineral Resource and commence feasibility studies at the Salinas Lithium Project. Latin also holds the Catamarca Lithium Project in Argentina and through developing these assets, aims to become one of the key lithium players to feed the world's insatiable appetite for battery metals. 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
Forward-Looking Statement
This ASX announcement may include forward-looking statements. These forward-looking statements are not historical facts but rather are based on Latin Resources Ltd.'s current expectations, estimates and assumptions about the industry in which Latin Resources Ltd operates, and beliefs and assumptions regarding Latin Resources Ltd.'s future performance. Words such as 'anticipates', 'expects', 'intends', 'plans', 'believes', 'seeks', 'estimates', 'potential' and similar expressions are intended to identify forward-looking statements. Forward-looking statements are only predictions and are not guaranteed, and they are subject to known and unknown risks, uncertainties and assumptions, some of which are outside the control of Latin Resources Ltd. Past performance is not necessarily a guide to future performance and no representation or warranty is made as to the likelihood of achievement or reasonableness of any forward-looking statements or other forecast. Actual values, results or events may be materially different to those expressed or implied in this ASX announcement. Given these uncertainties, recipients are cautioned not to place reliance on forward looking statements. Any forward-looking statements in this announcement speak only at the date of issue of this announcement. Subject to any continuing obligations under applicable law and the ASX Listing Rules, Latin Resources Ltd does not undertake any obligation to update or revise any information or any of the forward-looking statements in this announcement or any changes in events, conditions or circumstances on which any such forward looking statement is based.
Competent Person Statement
The information in this report that relates to Exploration Results is based on information compiled under the supervision of Mr Rene Sterk, a Competent Person who is a Fellow of The Australasian Institute of Mining and Metallurgy. Mr Sterk is Managing Director of RSC. The full nature of the relationship between Mr Sterk and Latin Resources Limited, including any issue that could be perceived by investors as a conflict of interest, has been disclosed. Mr Sterk has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves'. Mr Sterk consents to the inclusion in the report of the matters based on his information in the form and context in which it appears
LATIN RESOURCES LIMITED 
