Latin Resources Ltd. signed a binding letter of intent to secure the Geminis lithium mine and Don Gregorio concessions in San Luis, Argentina.
According to the three-stage acquisition agreement, the company is required to make payments totaling US$260,000 and achieve certain milestones to exercise its right to acquire 100% of the project for US$2.0 million.
Latin said Aug. 9 that it is currently in discussion with two plant owners to enable a spodumene circuit to be added to the existing crushing plant.
The company intends to produce a JORC-compliant resource and run in parallel the design and permitting of a spodumene plant to add to an existing operation in San Luis.
Latin added that field and drill permitting work has started on the Geminis mine and the Don Gregorio concessions.