LRS starts drilling program at its Noombenberry Halloysite-Kaolin project
Hey! Looks like you have stumbled on the section of our website where we have archived articles from our old business model.
In 2019 the original founding team returned to run Next Investors, we changed our business model to only write about stocks we carefully research and are invested in for the long term.
The below articles were written under our previous business model. We have kept these articles online here for your reference.
Our new mission is to build a high performing ASX micro cap investment portfolio and share our research, analysis and investment strategy with our readers.
Click Here to View Latest Articles
Latin Resources (ASX:LRS) has now begun its maiden aircore drilling at the Noombenberry Halloysite-Kaolin project in Western Australia.
Noombenberry is located to the east-southeast of Merredin, Western Australia and drilling will continue up to 20 December 2020.
LRS is effectively drill testing one of Australia’s few known occurrences of ultra-high-grade halloysite – a naturally occurring nanotube – and is looking to emulate Andromeda Metals (ASX: ADN) recent performance, a stock that has delivered a 700%+ return since September 2020.
Andromeda is developing one of the world’s largest known high purity halloysite-kaolin reserves and resources in South Australia.
LRS’s WA project has very similar geology to AND’s South Australian project.
Read: CATALYST ALERT: LRS to Drill for Halloysite, Hoping to Emulate Some of ADN’s 700% Run
LRS Executive Director Chris Gale commented on the commencement of drilling, “We are all very excited to have our maiden air-core drilling campaign underway at Noombenberry, where we are testing the extent of our known high-quality kaolinite-halloysite occurrence.
“Drilling is progressing very well, with geological logging identifying good intersections of white kaolinitic clays in the early drilling.”
Kaolinitic clays and halloysite were identified in previous sampling, where results confirmed up to 38.9% kaolinite and 15% halloysite by weight in the 45 – 180um size fraction.
Four sub-outcrop samples of this bright-white material have now been collected from two specific sites, and submitted for detailed test work along with the composite samples from the air-core drilling.
Approximately 2,500m – 3,000m of shallow air-core drilling is expected to confirm the extents of a known Kaolinite - Halloysite occurrence.
The initial phase of drilling will be completed in a regular 400m x 400m grid pattern (as seen below), with a second phase of off-set infill drilling to a nominal 200m x 200m pattern focusing on thicker zones of kaolinite development to be completed should time permit.
Any unfinished areas of infill drilling will be completed early in 2021.
“We will continue to drill right up to 20 December, infilling our drill pattern where we see good kaolin intersections in the logging,” Gale said.
LRS is fully funded to advance the Noombenberry Project at a time where there is strong and broad global demand for high-quality kaolin products.
Noombenberry also has the added benefit of sub-cropping high-quality material, which will have a significant positive impact on any future project economics, if sufficient material to support development is defined.
LRS has additional capacity within the existing approvals to extend the drilling campaign as required.
General Information Only
This material has been prepared by Jason Price. Jason Price is an authorised representative (AR 000296877) of 62 Consulting Pty Limited (ABN 88 664 809 303) (AFSL 548573) (62C), and a Director of S3 Consortium Pty Ltd (trading as StocksDigital).
This material is general advice only and is not an offer for the purchase or sale of any financial product or service. The material is not intended to provide you with personal financial or tax advice and does not take into account your personal objectives, financial situation or needs. Although we believe that the material is correct, no warranty of accuracy, reliability or completeness is given, except for liability under statute which cannot be excluded. Please note that past performance may not be indicative of future performance and that no guarantee of performance, the return of capital or a particular rate of return is given by 62C, Jason Price, StocksDigital, any of their related body corporates or any other person. To the maximum extent possible, 62C, Jason Price, StocksDigital, their related body corporates or any other person do not accept any liability for any statement in this material.
Conflicts of Interest Notice
S3 and its associated entities may hold investments in companies featured in its articles, including through being paid in the securities of the companies we provide commentary on. We disclose the securities held in relation to a particular company that we provide commentary on. Refer to our Disclosure Policy for information on our self-imposed trading blackouts, hold conditions and de-risking (sell conditions) which seek to mitigate against any potential conflicts of interest.
Publication Notice and Disclaimer
The information contained in this article is current as at the publication date. At the time of publishing, the information contained in this article is based on sources which are available in the public domain that we consider to be reliable, and our own analysis of those sources. The views of the author may not reflect the views of the AFSL holder. Any decision by you to purchase securities in the companies featured in this article should be done so after you have sought your own independent professional advice regarding this information and made your own inquiries as to the validity of any information in this article.
Any forward-looking statements contained in this article are not guarantees or predictions of future performance, and involve known and unknown risks, uncertainties and other factors, many of which are beyond our control, and which may cause actual results or performance of companies featured to differ materially from those expressed in the statements contained in this article. S3 cannot and does not give any assurance that the results or performance expressed or implied by any forward-looking statements contained in this article will actually occur and readers are cautioned not to put undue reliance on forward-looking statements.
This article may include references to our past investing performance. Past performance is not a reliable indicator of our future investing performance.
