- Latin Resources (LRS) continues to “confirm” the continuity of high-grade lithium-bearing pegmatites at its Salinas lithium project in Brazil
- The company has received results from the latest two diamond holes drilled at the project, which returned a peak grade of two metres at 3.07 per cent lithium oxide
- Latin said assay results continue to show consistent down-hole and down-dip grade profiles
- Additionally, 350 metres north, the company says it has intersected fresh spodumene, which “appears to be a continuation of the mineralised system”
- LRS shares last traded at 19 cents
Latin Resources (LRS) drilling has continued to produce high-grade lithium-bearing pegmatite intersections at its Salinas lithium project in Brazil.
The company said assay results from the latest two diamond drill holes at Salinas “confirmed” the continuity of previously reported high-grade lithium pegmatites.
The latest drill hits returned a peak grade of two metres at 3.07 per cent lithium oxide from 127m within a thicker interval of 17.38m at 1.46 per cent lithium oxide from 119.8m in hole SADD004.
Hole SADD003 intersections included 17.05m at 0.95 per cent lithium oxide from 65.65m including 4m at 1.96 per cent lithium oxide from 69.65m.
Latin said the assay results continued to show consistent down-hole and down-dip grade profiles.
“These new assay results from the latest two holes drilled in the south target area of the Salinas lithium project are once again extremely pleasing,” Managing Director Chris Gale said.
“We have now confirmed our initial observations that the logged lithium-bearing pegmatites are increasing in thickness as we move south, while maintaining the very high-grades seen in the first two holes.”
Latin has also reported about 350m north of the above holes, it encountered fresh spodumene in hole SADD0011.
Mr Gale said the find “appears to be … a continuation of the mineralised system”.
“This new evidence of extension in strike length of the spodumene pegmatites
coupled with the confirmation of continuing high-grades in our early drilling, further enhances our belief that we are on the verge of what could be a major new discovery,” he said.
“We have now confirmed spodumene-bearing pegmatites over a continuous strike length approaching one kilometre.”
Latin said it planned to fast-track mineral resource definition drilling at the project.
LRS shares last traded at 19 cents on April 8.