Archived News
In August 2021 Finfeed changed from a website that covered ASX listed news to a website
that covered a select range of ASX
listed small cap Biotech stocks that we are personally
invested in: find out more.
The old Finfeed website, and all of the old articles are kept here for record keeping purposes.
VISIT NEW SITELatin Resources increases landholdings in Lachlan Fold Belt
3 minute read
Latin Resources Limited (ASX:LRS) has provided an update on its various projects and ongoing exploration activities in the highly prospective Lachlan Fold Belt of NSW, including details regarding tenement acquisitions.
Importantly, Latin Resources has secured three new tenements totalling about 570 square kilometres in the heart of the Lachlan Fold Belt, home to major discoveries and large producing low-cost gold-copper mines.
This is real gold-copper territory that includes the world-class Cadia Mine operated by Newcrest Mining (ASX:NCM) and the McPhillamys Gold Project being developed by Regis Resources (ASX:RRL).
The three new tenements within the Lachlan Transverse Zone in the East Lachlan Fold Belt are now part of the group’s promising portfolio following the successful grant of ELs 9148 Manildra and 9172 Burdett, and the application of ELA 6292 Boree Creek.
As shown below, the project area is located 30 kilometres to the north-west of the Newcrest’s Cadia Gold-Copper Mine (22 million ounces gold, 4.3 million tonnes copper) and 60 kilometres west of Regis Resources’ McPhillamys Gold Project (2 million ounces gold).
The recently granted Manildra and Burdett projects straddle the regional scale Manildra Fault within the Lachlan Transverse Zone.
There are known gold and copper occurrences within the tenement, as well as along strike to the north and south, including recent shallow RC (reverse circulation) drilling results of 26 metres at 1.5 g/t gold from 25 metres, and 3 metres at 7.8 g/t gold from 57 metres.
The new tenement application at Boree Creek is less than 20 kilometres to the north-west of Newcrest’s Cadia copper-gold mine, highlighting its nearology appeal.
The area hosts known copper mineralisation with historic rock chip assays returning up to 2.7% copper.
The NSW Geological Survey has defined a series of north-south trending corridors that are highly prospective for orogenic gold mineralisation associated with regional structures like the Manildra Fault zone.
As shown below, the Manildra, Burdett and Boree Creek project areas are crossed by a number of these corridors, highlighting the prospectivity of these three new tenements.
Two new tenement applications expand the Gundagai Project
As indicated on the first map, the Gundagai Nickel-Copper-PGE Project lies almost directly to the south of Boree Creek.
Latin Resources has secured a major new project area with the addition of two new tenement applications ELA6207 Mooney Mooney and ELA6209 Sandy Creek, 15 kilometres north-east of Gundagai in central southern NSW.
Together these tenements total some 165 square kilometres of ground that is highly prospective for ultramafic layered intrusive nickel-copper-platinum group element style mineralisation, orogenic gold mineralisation, and skarn type mineralisation.
Following the grant of the two new tenements, and securing land access and other statutory approvals, Latin proposes to complete regional and project scale first pass targeting exploration that may include geophysical surveys and low-impact geochemical sampling, followed by RC drilling of any defined targets.
Elsewhere, early-stage exploration has started at the group’s Yarara Gold Project south-east of the Gundagai Project.
On-ground reconnaissance mapping and rock chip sampling have been undertaken along the 1200 metre strike extent of the historic gold workings.
Assay results from the 57 rock chip samples collected at the Peep O’Day prospect are pending, but assays up to 5.4 g/t gold have been returned from historic rock chip samples taken along the length of the workings.
Latest articles on Latin Resources
More Commentary
Los Cerros confirms extensive gold porphyry mineralisation
08-07-2021
GTI completes drilling ahead of establishing uranium resource
06-07-2021
Los Cerros ready to grow another leg, driven by Tesorito results
28-06-2021
GTI Resources starts second round of uranium exploration drilling
25-06-2021S3 Consortium Pty Ltd (CAR No.433913) is a corporate authorised representative of LeMessurier Securities Pty Ltd (AFSL No. 296877). The information contained in this article is general information only. Any advice is general advice only. Neither your personal objectives, financial situation nor needs have been taken into consideration. Accordingly you should consider how appropriate the advice (if any) is to those objectives, financial situation and needs, before acting on the advice.
Conflict of Interest Notice
S3 Consortium Pty Ltd does and seeks to do business with companies featured in its articles. As a result, investors should be aware that the Firm may have a conflict of interest that could affect the objectivity of this article. Investors should consider this article as only a single factor in making any investment decision. The publishers of this article also wish to disclose that they may hold this stock in their portfolios and that any decision to purchase this stock should be done so after the purchaser has made their own inquires as to the validity of any information in this article.
Publishers Notice
The information contained in this article is current at the finalised date. The information contained in this article is based on sources reasonably considered to be reliable by S3 Consortium Pty Ltd, and available in the public domain.