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    LRS   AU000000LRS6

LATIN RESOURCES LIMITED

(LRS)
Delayed Australian Stock Exchange  -  02:10 2022-09-30 am EDT
0.0960 AUD   +1.05%
09/19Latin Resources Limited(ASX:LRS) added to S&P Global BMI Index
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09/19Latin Resources Limited(ASX:LRS) added to S&P/ASX Emerging Companies Index
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09/12Latin Resources Limited Reports Earnings Results for the Half Year Ended June 30, 2022
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Latin Resources Limited Provides Update on Resource Definition Drilling and Other Studies Currently Ongoing At the Company's 100% Owned Highgrade Colina Lithium Prospect

07/26/2022 | 06:29pm EDT

Latin Resources Limited provided the following update on resource definition drilling and other studies currently ongoing at the Company's 100% owned highgrade Colina Lithium Prospect. Colina Prospect ­ Resource Definition Drilling: Latest assay results from diamond drilling at the Company's 100% owned Colina Prospect, part of the broader Salinas Lithium Project in Brazil, continue to confirm the continuity of grade and thickness of the highgrade Colina pegmatites at depth. Latest results include: SADD017: 8.87m @ 1.09% Li2O from 137.00m Inc: 1.00m @ 2.02% Li2O from 137.00m 13.86m @ 1.33% Li2O from 173.29m Inc: 7.00m @ 1.93% Li2O from 178.00m SADD018: 9.16m @ 1.68% Li2O from 133.84m Inc: 6.00m @ 2.16% Li2O from 135.0m Inc: 1.00m @ 3.52% Li2O from 137.00m 16.00m @ 1.29% Li2O from 189.00m Inc: 1.00m @ 3.06% Li2O from 190.00m and: 1.00m @ 4.22% Li2O from 196.00m SADD019: 11.96m @ 1.64% Li2O from 206.24m Inc: 8.20m @ 1.82% Li2O from 210.00m SADD020: 2.35m @ 3.57% Li2O from 120.33m 7.58m @ 1.45% Li2O from 143.77m Inc: 1.60m @ 2.45% Li2O from 144.40m.

The Company has completed 29 holes for a total of approximately 5,890m of the estimated 25,000m resource definition drilling program. With the arrival of the fourth diamond drill rig on site, the resource definition drilling campaign is at full speed and on track to complete a maiden JORC Mineral Resource Estimate (MRE), for the Colina Prospect by the end of the year. In addition to the current resource definition drilling campaign, Latin has recommenced regional mapping activities focused on the area immediately to the west of Colina resource definition drilling.

Preliminary work completed in this area during the previous mapping season identified highly weathered west dipping pegmatites. The new field mapping program will focus on better defining the known pegmatite occurrences and extend mapping coverage further out to the west looking for additional parallel systems. The Company controls a significant tenement package in the area, with the prospective stratigraphy extending across strike approximately 2.1km to the west and 1.0km to the south of Colina. Latin will send a separate regional exploration team to the Salinas South tenement area located approximately 17.0km to the southwest of Colina where the previous seasons' exploration work identified a `lithium corridor' extending across 4.0km.

Soil sampling completed toward the end of the previous campaign highlighted an area of anomalous lithium in the northeast of the tenement. New mapping will focus in this area to refine the initial drill targets as well as extending geochemical sampling along the full extent of the mapped prospective corridor.


© S&P Capital IQ 2022
All news about LATIN RESOURCES LIMITED
09/19Latin Resources Limited(ASX:LRS) added to S&P Global BMI Ind..
CI
09/19Latin Resources Limited(ASX:LRS) added to S&P/ASX Emerging C..
CI
09/12Latin Resources Limited Reports Earnings Results for the Half Year Ended June 30, 2022
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09/06Latin Resources Hits High-Grade Lithium at Colina Prospect in Brazil
MT
09/06Latin Resources Limited Updates on Resource Definition Drilling and Other Studies Curre..
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08/23Latin Resources Limited Provides Update on the Preliminary "Sighter" Metallurgical Test..
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08/15Latin Resources Uncovers Pegmatites at Colina Prospect in Brazil; Shares Rally 15%
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08/15Latin Resources Limited Confirms Significant New Discovery At Colina West
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08/09Latin Resources Limited - COMMENCEMENT OF FEASIBILITY STUDIES FOR SALINAS LITHIUM PROJE..
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08/09Latin Resources to Start Feasibility Studies at Brazil's Salinas Lithium Project
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Financials
Sales 2021 0,09 M 0,06 M 0,06 M
Net income 2021 -4,36 M -2,81 M -2,81 M
Net cash 2021 0,64 M 0,41 M 0,41 M
P/E ratio 2021 -9,27x
Yield 2021 -
Capitalization 189 M 122 M 122 M
EV / Sales 2020 202x
EV / Sales 2021 442x
Nbr of Employees -
Free-Float 76,6%
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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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