Latin Resources finalising results ahead of resource estimate
Latin Resources Limited (ASX:LRS) has received the majority of the test-work results from the Noombenberry Halloysite-Kaolin Project, and management said today that the results have continued to show consistent high grade halloysite and ultra-bright white ISO-B values over significant widths close to surface.
One of the features was hole NBAC119 that returned 26 metres at 24% halloysite, including 8 metres at 35% halloysite, and an individual 4 metres composite sample returning 41% halloysite.
From a broader perspective, these results from the Noombenberry Project are proving to show some of the highest grade Halloysite and Kaolin assays in Australia.
These have included 41 metres at 12% halloysite, 72% Kaolinite and 81 ISO-B from 6 metres.
While there are still a number of XRD and XRF results to be returned, management is buoyed by the emergence of patterns of widespread ultra-bright white kaolinite saprolite across the full extent of the 18 square kilometre area drilled, containing pods of high-grade halloysite within.
Strong coverage and high grades bode well for maiden resource estimate
This provides Latin Resources with confidence that the upcoming Maiden Mineral Resource Estimate will be a significant milestone.
While the last of the samples are progressing through the laboratory and various testing facilities, management continues to work in the background to enable the fast tracking of the resource estimate once all results are received with the Maiden JORC Resource anticipated to be released in May.
With all of the sample brightness data available, patterns are beginning to emerge from that data highlighting a blanket of ultra-bright-white kaolinite (>80 ISO-B), across the tenement, broken up by several small areas where the basement granite sub-crops.
This is highlighted in the following graphic that shows the maximum down hole brightness across the drilled grid, with the red and white areas representing a maximum down-hole brightness value of over 80 ISO-B.
Management in discussions regarding scoping study
Survey teams have recently been to site to undertake a detailed ground survey and drill collar pick-up, enabling the construction of a digital terrain model (DTM) of the project area.
Management is in detailed discussions with specialist consultants to commence an initial scoping study once the Maiden JORC Resource is completed.
The successful scoping study will then generate a development business case to commence a detailed pre-feasibility study to fast-track development plans for a high grade Halloysite Kaolin project.
Some of the key attributes of the Noombenberry Project that are likely to feature prominently in upcoming studies include ease of mining (low strip), suitability of resource for high-end paper and ceramics applications and the possibility of near-term DSO production that could generate early cash flow.
Management also said that the potential characteristics of the halloysite in the deposit puts it in the best of breed category for hydrogen and carbon capture as well as other nanotechnology applications.
On this note, Latin Resources is identifying world class technology development partners to carry out research and development programs in the hydrogen and carbon capture sectors.
Combination of high grade halloysite and ultrabright kaolinite
Commenting on these recent developments and reaffirming that the project was well on track to complete the initial geological model by the targeted June quarter timeframe, exploration manager Tony Greenaway said, “We are all extremely pleased to see the Noombenberry Project advancing as it is.
"We are continuing to see the very high grades of halloysite together with the ultra-bright kaolinite in our latest results.
"With all of the brightness testing now completed, we can clearly see the extent of the high-quality kaolinite blanket across the tenement area that we have drill tested, and that this remains open in all directions.
"This provides us with a very high degree of confidence in our project as we move forward into the development of the maiden resource estimate.
"Working closely with our resource estimation partners at RSC, we are steadily progressing what we can in the background, while the final few results are returned.
"The completion of the initial geological model is a big step forward and provides significant insight as to what we might expect of the final estimation outcome.
"We are well on track to have this process completed within our original time frame of Q2 2021.”