Lithium project area now 367% bigger.
Our lithium Investment Latin Resources (ASX: LRS) has now lodged applications to expand the footprint of its Brazilian hard rock lithium project by almost 4x.
LRS lodged applications for 17 new tenements which would see the project area expand by ~29,940 hectares - an increase in tenure by 367% to over 38,000 hectares.
At the same time, LRS also secured an option to acquire additional ground to the south of its Colina deposit. Importantly this is in the direction where LRS is currently drilling to test for extensions to its existing JORC resource.
LRS has already completed the acquisition of the “First Part”, the agreement for the remaining sections is as follows:
- To acquire 100% of the “Second Part” = US$200k cash by 31 May 2023.
- To acquire 100% of the “Third Part” = US$200k cash by 31 July 2023.
What’s next for LRS?
- 🔄 Drill results from the company’s 65,000m JORC resource expansion drilling program.
- 🔄 Preliminary economic assessment (PEA) for lithium project.
To see a detailed breakdown of what’s next check out our latest LRS note here.
