Latin Resources Limited (ASX: LRS), a major Australian mineral exploration company, has announced the successful completion of its drilling program at the Colina Resource, a key part of its Cloud Nine Halloysite-Kaolin Project in Western Australia.
The drilling program, totalling 5,000 metres of reverse circulation (RC) drilling, was completed on schedule and within budget.
Initial assay results from the first phase of drilling have confirmed the presence of high-grade halloysite and kaolin mineralisation, with detailed analysis and further assays underway.
The company expects to release these results in the coming weeks.
The primary aim of the drilling program was to expand the existing JORC-compliant Mineral Resource Estimate (MRE) at Colina.
The positive initial results suggest significant potential for resource expansion, which could enhance the overall value of the Cloud Nine Project.
Tony Greenaway, Latin Resources’ Vice President of Operations – Americas, expressed optimism about the results, stating: “Results for the infill campaign have confirmed that Colina is a very consistent deposit, with new results showing very similar pegmatite thicknesses and grades to the existing models.
“In addition, the geometry of the extensive Colina pegmatite swarm has proven to be equally as consistent, with new results matching very closely with the previously modelled resource.”
Following the completion of the drilling program at Colina, the focus has shifted to exploration, with four rigs now operating in the high-priority Planalto Prospect area.
Early indications from the new holes at Planalto suggest that the high-grade pegmatites continue up-dip to the west, similar to the Colina deposit.
This is a significant development as Planalto is close to the Colina Deposit and the proposed processing infrastructure.
Latin Resources is now awaiting more assay results from the Planalto area and remains committed to the ongoing development of the Cloud Nine Halloysite-Kaolin Project.
The company is conducting feasibility studies and project optimisation to further advance this world-class project.
Latin Resources Limited is an Australian-based mineral exploration company with projects in South America and Australia, focusing on commodities that support global efforts towards Net Zero emissions.
