##{"id":92225,"date":"2021-03-11T14:18:42","date_gmt":"2021-03-11T03:18:42","guid":{"rendered":"https:\/\/www.fnarena.com\/?p=92225"},"modified":"2021-03-11T14:18:44","modified_gmt":"2021-03-11T03:18:44","slug":"results-look-good-is-latin-resources-the-next-andromeda","status":"publish","type":"post","link":"https:\/\/staging.fnarena.com\/index.php\/2021\/03\/11\/results-look-good-is-latin-resources-the-next-andromeda\/","title":{"rendered":"Results Look Good: Is Latin Resources The Next Andromeda?"},"content":{"rendered":"<p style=\"text-align:center\"><em>&#8211;The below is a company-sponsored announcement&#8211;<\/em><\/p>\n<hr \/>\n<p><img decoding=\"async\" alt=\"\" src=\"https:\/\/www.fnarena.com\/ckfinder\/userfiles\/images\/LRS%20Image.jpeg\" style=\"height:467px;width:832px\" \/><\/p>\n<p><span style=\"font-size:14px\"><strong>Latin Resources ((<a href=\"https:\/\/catalysthunter.com\/company\/lrs\/\">LRS<\/a>)) continues to release exceptional results from its maiden air-core drilling program at its 100% owned Noombenberry Halloysite-Kaolin Project in WA.<\/strong><\/span><\/p>\n<p>LRS confirmed high grade and ultra-bright halloysite&nbsp;and has moved swiftly to formally engage an independent consulting group to undertake a maiden mineral resource estimate.<\/p>\n<p>The company is hoping this estimate can match and potentially surpass the $656M capped Andromeda Metals results.<\/p>\n<p>Andromeda has delivered investors a more than 500% return in recent months on the back of its halloysite exploration in Australia.<\/p>\n<p>In September last year, Andromeda reported an inaugural JORC mineral resource estimate at deposit of 51.5 million tonnes.<\/p>\n<p>Assuming LRS can deliver on a JORC resource, it could deliver similar on-market performance, especially as its exploration drilling covers an area of 18 square kilometres, as opposed to Andromeda&rsquo;s 1.2 square kilometres.<\/p>\n<p>Halloysite is a hard mineral to find, and is valued highly by downstream buyers. The price of pure halloysite now sells for up to US$4,000\/t.<\/p>\n<p>The initial batch of 100 samples submitted for detailed test work&nbsp;confirmed very high-grade halloysite, with grades of up to 37% Halloysite, and multiple intersections over 20% Halloysite.<\/p>\n<p>Over the last two weeks, LRS has continued to deliver strong results.<\/p>\n<p>Results from four float samples collected from dam walls at two separate locations within Latin&rsquo;s new tenement applications have confirmed bright white (&gt;74 ISO-B) and ultra-bright white (&gt;84 ISO-B) kaolin up to 15 kilometres along strike to the north-east of the company&rsquo;s main drilling area.<\/p>\n<p>&ldquo;Exceptional results had been received from four grab\/float samples collected as a part of a reconnaissance exercise in consultation with the landholder at the company&rsquo;s 100% owned Noombenberry Halloysite Project in Western Australia,&rdquo; LRS CEO Chris Gale said at the time.<\/p>\n<p>This week, LRS released a second batch of results that has continued to show bright to ultra-bright kaolinite and high-grade halloysite with individual composite sample grades of up to 23% halloysite\/87 ISO-B Brightness.<\/p>\n<p>These latest results serve as further confirmation that the group could be in a position to significantly expand what is now shaping up as a highly promising resource.<\/p>\n<p>Gale said, &ldquo;We are extremely pleased to see our initial results mirrored in this next batch of results from our test work.<\/p>\n<p>&ldquo;We now have results for over 50 of our 197 holes drilled at Noombenberry, and we are seeing continuity and consistency of the high-grade halloysite and bright to ultra-bright white kaolinite.<\/p>\n<p>&ldquo;This is shaping up to be a very large and more importantly, a high-quality deposit that we expect will command strong attention from potential end-users.<\/p>\n<p>&quot;Work is well underway on building our geological wireframes&nbsp;so that we can be ready to commence the resource estimate as soon as all of our test work results have been received.<\/p>\n<p>&quot;The team is focused on fast-tracking this process, as well as looking toward the next phase of drilling to extend our coverage to the north, where our initial results show the mineralisation remains open.&rdquo;<\/p>\n<p>While there are still more results to come, the company has flagged its intention to re-commence drilling once all statutory approvals have been received to extend the current drill coverage into its adjacent 100% owned tenement E77\/2624.<\/p>\n<p>The company is already receiving enquiries from potential offtake partners and will continue to progress these discussions as it gains a better appreciation of the scale and characteristics of the Halloysite project.<\/p>\n<p>Shares in Latin Resources have surged in the last 12 months, more than doubling to yesterday&rsquo;s closing price of 6.2 cents.<\/p>\n<hr \/>\n<p><em>Earlier today the corporate announcement above was publicly released. FNArena is acting as a partner in&nbsp;distribution to broaden the reach. No journalists have been involved in the re-publication of this announcement.<\/em><\/p>\n<\/p>\n<p><em>Find out why FNArena subscribers like the service so much: &quot;<a href=\"http:\/\/www.fnarena.com\/index4.cfm?type=dsp_newsitem&amp;n=29EB960D-9DFF-C00E-7F6B464E5D52E250\">Your Feedback (Thank You)<\/a>&quot; &#8211; Warning this story contains unashamedly positive feedback on the service provided.<\/em><\/p>\n<p><em>FNArena&nbsp;is proud about its track record and past achievements: <a href=\"https:\/\/www.fnarena.com\/index.php\/2018\/10\/03\/rudis-view-ten-years-on-the-world-is-still-turning\/\">Ten Years On<\/a><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>SPONSORED: Latin Resources continues to release exceptional results from its maiden air-core drilling program at its 100% owned Noombenberry Halloysite-Kaolin Project in WA<\/p>\n","protected":false},"author":1,"featured_media":92227,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[5],"tags":[],"acf":[],"_links":{"self":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts\/92225"}],"collection":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/comments?post=92225"}],"version-history":[{"count":0,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts\/92225\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/media\/92227"}],"wp:attachment":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/media?parent=92225"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/categories?post=92225"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/tags?post=92225"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}