Oar Resources sold its non-core Gibraltar Halloysite Project in South Australia to ESG Minerals, a subsidiary of Latin Resources (ASX:LRS), for a cash consideration of $500,000.

The divestment involves approximately 80km2 of EL6506, while the retained portion (236km2) will support Oar Resources' rare earth element portfolio in the Western Eyre Peninsula.

Sale proceeds will fund Oar Resources' critical minerals exploration program.