Laconia Resources closer to drilling at Rasuhuilca

THE BOURSE WHISPERER: Laconia Resources (ASX: LCR) Laconia has moved closer to the commencement of drilling at the company’s Rasuhuilca copper-gold-silver project in Peru, by securing a second key access and infrastructure agreement with local communities.

Laconia indicated it is currently in advanced discussions with the remaining community group at Rasuhuilca.

Once documentation of these agreements is complete, Laconia said it intends beginning a drilling program to test the copper targets it has already identified.

Laconia explained that as part of the second agreement, the Huacana community has voted to proceed to execute an access and exploration agreement with Laconia.

Laconia expects to execute the formal access and infrastructure agreement with Huacana over the next few weeks.

The Huacana community is the second of three community groups Laconia requires agreement from, within the immediate area of impact of the 100 per cent-owned Rasuhuilca project and the contiguous Huaco Cucho concessions, over which Laconia has an option to earn an 80 per cent indirect interest.

These projects and concessions collectively cover over 8,387 hectares of prospective geology in the Peruvian Andes.

The Huacana agreement follows the recent community agreement (and executed access and infrastructure agreement) with the nearby Yanama community.

“Gaining social licence is a critical step in Peru and Laconia is now well on the way to completing the remaining community agreement,” Laconia Resources managing director Ian Stuart said in the company’s announcement to the Australian Securities Exchange.

“Laconia can now confidently expect to complete the remaining access and infrastructure agreement documentation and required permits for drilling to commence in a timely manner.”