Latin confirms thick high-grade halloysite with latest drill campaign

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Matt BirneySponsored
Latin Resources scanning electron microscope image of Cloud Nine halloysite.
Camera IconLatin Resources scanning electron microscope image of Cloud Nine halloysite. Credit: File

Extensive drilling by Latin Resources has confirmed thick, continuous high-grade halloysite at its Cloud Nine deposit located 350kms east of Perth. Recent tests detected exceptional grades of up to 46 per cent halloysite in broader zones and include an impressive 18m at 26 per cent halloysite. The company is now progressing a detailed mining study on Cloud Nine that is located in a region that is well endowed with transport and services infrastructure.

The recent close spaced drilling campaign has provided Latin with strong confirmation of the continuity of thick high-grade halloysite bearing kaolinized granite within the Cloud Nine resource area.

Significant intersections abound and also include a 16m hit grading 27 per cent halloysite from 14m. Stunning grades occur within the broader intersections and include 6m at 46 per cent halloysite and 2m at 36 per cent.

Latin Resources is analysing the drilling results prior to updating the resource calculation over the next quarter.

The company’s Cloud Nine halloysite-kaolin deposit has existing JORC resources of 207 million tonnes of kaolinized granite including separate zones containing 123 million tonnes of bright-white kaolinite and 84 million tonnes of kaolin-halloysite bearing ore.

Specialised core drillers have been secured to progress geotechnical and metallurgical drilling with the work expected to kick off in February.

Studies to convert the exploration licences to mining licences are also progressing along with other longer lead time approvals required for mining.

The company said the drilling results continue to demonstrate the consistent nature of the halloysite bearing material at Cloud Nine and reinforce its position as a globally significant deposit.

Latin Resources’ Cloud Nine deposit appears to be meeting every target and jumping every hurdle. With the market currently at fever pitch on exotic minerals such as rare earths, lithium and others, Latin’s timing is pretty good too.

Is your ASX-listed company doing something interesting? Contact: matt.birney@wanews.com.au

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