- Latin Resources (LRS) has added the 280-square kilometre Manildra Project to its New South Wales portfolio
- Manildra is located in the prospective Lachlan Fold Belt which is home to Newcrest’s multi-million ounce Cadia gold-copper mine
- The newly-granted tenement is believed to be prospective for gold and copper and Latin plans to conduct exploration work to evaluate this
- Additionally, Latin has signed land access agreements with key landholders to begin exploration work at the Yarara Project
- Exploration will include mapping and prospecting works required to finalise drill targets
- Company shares are up 5.56 per cent to trade for 1.9 cents
Latin Resources (LRS) has secured a new exploration licence in the Lachlan Fold Belt, New South Wales.
The tenement, now called ‘Manildra’, covers around 280 square kilometres of highly prospective Silurian age volcanic and sedimentary rocks in the eastern Lachlan Fold Belt.
The Manildra Project located 30-kilometres northwest of Newcrest’s multi-million ounce Cadia gold-copper mine and 60 kilometres west of Regis Resources’ McPhillamys gold project.
The project also straddles the north-south-trending Manildra Fault for around 30-kilometres of strike. This structure hosts several gold and copper occurrences.
Latin has proposed to conduct exploration work at the project which may include geophysical surveys, geochemical sampling and drilling.
“It is very pleasing to be able to add a project of this quality in a highly sought after and proven world class mining district to the company’s portfolio at a very low cost to the company,” Executive Director Chris Gale said.
The Yarara Project
Additionally, Latin Resources has signed land access agreements with key landholders to begin exploration work at the Yarara Project.
“Our land access team is making excellent progress, with the finalisation of several land access agreements over the past few weeks, which means that we are now able to get on the ground and begin reconnaissance field work to define targets for our drilling campaign,” Chris added.
Initial work will include reconnaissance mapping and prospecting work that’s required to finalise drill targets.
Company shares are up 5.56 per cent to trade for 1.9 cents at 3:13 pm AEDT.