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Latin Resources elevate Cloud Nine clay

29 November 2022 09:27

Latin Resources have raised Cloud Nine by a third, bringing its resource to 280Mt of kaolinised granite at an already globally significant halloysite-kaolin project 300 kilometres east of Perth in Western Australia.

Mineralisation remains open in every direction, and the bulk sample has already been delivered to advance offtake discussions.

The 33 per cent upgrade raised 70Mt from inferred to indicated, with the inferred resources comprised of 125 Mt of bright white kaolinite-bearing material and 85Mt bearing prized halloysite.

Kaolin clays have been sought after for centuries and new uses continue to be revealed, but halloysite has only recently come into the light for investors, its unique properties exposing it to a number of future-facing markets.

And the infill drill programmed confirmed high-grade halloysite up to 58 per cent, with the large-scale of the estimate prior to this upgrade already platforming the deposit as globally significant.

Latin have also affirmed Cloud Nine’s rare earth potential, with anomalous concentrations showing in 38 per cent of recently reported samples, and five holding total rare earth oxide concentrations exceeding 3500 parts per million.

Offtake discussions will include short-term options on top of long-term arrangements while Latin will further refine its mining method and designs and begin a desktop study to apply for environmental approvals and to support the continued development of Cloud Nine.

LRS’ Australian Stock Exchange-listed share price was trading at 12c today (9.26 am UTC+ 8 hours).

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