Latin Resources (ASX: LRS) has been granted a trading halt by the ASX pending the release of details on two announcements, which include a share subscription agreement and a mining concession option agreement - with the company's shares placed in pre-open.
Latin is currently in a very interesting position and continues to move the Guadalupito Iron, Gold and Heavy Mineral Sands project in Northern Peru towards a maiden JORC Resource.
A total of 68 sonic drill holes and a detailed topographic survey within the “proof of concept” resource area have been completed and consultant Snowden is well advanced in generating the geological model for the estimate.
Despite the challenging sampling environment, the majority of 1270 drill samples have analytical results completed and are being compiled prior to inclusion in resource estimate.
The halt will last until the earlier of the announcement being made to the market, or the opening of trade on Wednesday 30 November.
Originally published at: http://www.proactiveinvestors.com.au/companies/news/22630/latin-resources-granted-halt-pending-share-subscription-and-mining-concession-details-22630.html
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