Latitude takes major stake in Zim lithium mine
PERTH (miningweekly.com) – Junior Latitude Consolidated has completed the acquisition of a 70% interest in the Mbeta lithium project, in Zimbabwe.
Latitude paid private seller Robert David Hutchings A$71 089 to acquire the majority stake in the project, which comprises 13 mineral claims over a combined 18 km2.
Latitude will finance all exploration by the joint venture up to the completion of a definitive feasibility study.
“The board has been actively assessing a number of investment opportunities in the resources sector globally with the aim of providing our shareholder base with a direct exposure to the rapidly growing renewable energy sector,” said Latitude chairperson Tim Moore.
“In line with this strategy, the board intends to further extend Latitude’s reach into other lithium opportunities within Africa and looks forward to providing further updates on these opportunities in due course.”
Moore said that Latitude’s technical team has identified considerable exploration potential within the Mbeta project and surrounding mining claims, which had the potential to host additional lithium mineralisation
“Now that the acquisition is complete, it is our intention to undertake data compilation of past work, followed by a field exploration programme to accurately assess the extensive strike and in-pit targets located on the property. The intention is for this work to determine drill targets for follow-up testing in the near term.”
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