- Latin Resources (LRS) discovers a new spodumene pegmatite target at its Salinas project in Brazil
- The new discovery was made three kilometres southwest of the existing Colina target
- The company continues to plug away at its 2023 drilling campaign with no less than 11 rigs currently on-site at Salinas
- The geotechnical team’s focus now switches to infill drilling, metallurgical testing, and testing of new regional targets
- Management believes the new spodumene target is evidence of a widespread lithium mineral system
- LRS shares are down 4.29 per cent, trading at 33.5 cents at 11:35 am AEST
Latin Resources (LRS) has received new assay results from recent drilling activities targeting the Colina and Fog’s Block sites within the company’s Salinas lithium project in Brazil.
In the latest diamond drillholes, Latin made a significant pegmatite discovery located approximately three kilometres southwest of Colina. This discovery adds substantial weight to the possibility of establishing a district-scale lithium province.
Among the recent assay results from the Colina infill drill campaign, the standout finding was a 9.94-metre-thick intersection at 1.5 per cent lithium oxide from a depth of 328 meters.
Additionally, there were notable results, including 10.5 meters at 1.29 per cent lithium from a depth of 160 metres, an 18.15-metre thick intersection at 1.67 per cent lithium from a depth of 244 metres, and an 11-metre section at 1.4 per cent lithium from a depth of 76 metres.
Since the company launched its 2023 drilling campaign back in January, a total of 118 holes for 39,360 metres worth of core have been completed.
There are no less than eleven drill rigs currently active at Salinas to complete the planned total of 65,000 metres of drilling.
Latin Resources’ geotechnical team anticipates an expansion of the mineral resource for Colina, as drilling indicates a southwest-trending strike beyond current estimates.
Infill drilling has become the primary focus, along with targeted metallurgical testing and assessments of newly discovered high-priority targets.
The recent discovery of spodumene pegmatite mineralisation approximately three kilometres southwest of Colina holds significant promise as the 2023 campaign advances into the upcoming fourth quarter.
“The visual drill core intersections of spodumene-rich pegmatite over three kilometres to the southwest of the Colina Deposit … is extremely encouraging,” LRS Vice President of Operations for the Americas Tony Greenaway said.
“We now have multiple confirmed spodumene pegmatite drill core intersections within the corridor, providing us with a high degree of confidence that this district scale system has the potential to host multiple deposits.”
LRS shares were down 4.29 per cent, trading at 33.5 cents at 11:35 am AEST.