- Latin Resources (LRS) secures two new lithium tenements in the Bananal Valley in Brazil’s east
- The new tenements increase the company’s footprint to 5338 hectares with multiple drill targets defined in the lithium corridor
- The company also defines multiple drill targets and has submitted drill permits for its nearby Salinas Lithium Project
- This project is located within the highly prospective Minas Gerais district known for hosting the Eastern Brazilian lithium pegmatite province
- Latin Resources was trading grey at 42 cents a share
Latin Resources (LRS) has secured two new lithium tenements in the Bananal Valley in Brazil’s east.
The new tenements increase the company’s footprint to 5338 hectares with multiple drill targets defined in the lithium corridor.
LRS has been approved to commence drilling operations in February next year.
The new tenements give the company an exclusive 12-month option, allowing Latin Resources to acquire 100 per cent of the tenements contagious with its existing Bananal Valley Project.
The company has also defined multiple drill targets and has submitted drill permits for its nearby Salinas Lithium Project.
Latin Resources Managing Director Chris Gale said “our geological team is extremely keen to commence drilling in early 2022, testing multiple high priority targets at Salinas”.
This project is located within the highly prospective Minas Gerais district known for hosting the Eastern Brazilian lithium pegmatite province.
Sigma Lithium Corporation and lithium producer Companhia Brasilia de Litio both call the Minas Gerais district home.
“In addition, the option agreement to acquire two tenements next door to Bananal Valley significantly increases the prospectivity of the Project, given the two new tenements contain outcropping high-grade lithium spodumene-bearing pegmatites,” Me Gale said.
Latin Resources was trading grey at 42 cents a share at 11:50 am AEDT.