Latin Resources (ASX:LRS) update on Ilo copper project, Catamarca lithium drilling and the new cobalt concessions

Interviews

by Carolyn Herbert

Latin Resources (ASX:LRS) is always looking for projects, certainty in Peru and Argentina and we were shown a project, the King Tut mine, in La Rioja. We did a lot of desk top due diligence and we liked it.

Cobalt as well as lithium is a battery mineral. In that space we decided to take some free concessions around the mine. We discussed the mine with the owner as well and it made a lot of sense to have a look at it, and obviously now we put the concessions in for that application and hopefully we will have those granted pretty soon.

Typically as always in Latin America, the way that we actually find our projects is look towards where miners have been, as they normally find a high grade of whether it’s gold, cobalt, zinc, lead, copper. So that’s traditionally how we identify where there is a good opportunity.

This has been a cobalt mine dating back to the 1900s and more recently in the 50s and 60s, and a Canadian company ran it in the 80s.

The first thing we do is we check it out, and if there’s free ground around that particular mine we claim that, as we did in Catamarca in our lithium mine. That’s normally our concept, our strategy if you like.

Exploration will start once concessions are granted and typically it takes two to four months to get those concessions granted. 

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