- Within Latin Resources (LRS) Salinas project, in Brazil, the latest assays show further high-grade lithium at the Colina prospect, but not at Monte Alto
- A quarter of the planned resource definition drilling at Colina is complete with new results of up to 4.2 per cent lithium
- However, nine drill holes completed at the Monte Alto prospect, logged no material spodumene in the core and no significant assays were returned
- Moving forward at Salinas, LRS says it is on track to deliver a maiden JORC resource estimate by the end of CY22 and field work has begun to the west of resource drilling
- Latin shares last traded at 7.8 cents on July 26
Within Latin Resources (LRS) Salinas project, the latest assays show further high-grade lithium at the Colina prospect, but not at Monte Alto.
The project is in the Bananal Valley District in Brazil and the company has been undertaking resource definition drilling at Colina.
Over one quarter of the planned drilling is complete with the latest assays returning up to 4.2 per cent lithium.
Latin Resources Exploration Manager Tony Greenaway said the results continue to show “excellent high-grade lithium intersections and continuity of the pegmatites along strike and down dip”.
With a fourth drill rig operating on site, the company said its drilling campaign is at full speed and “well on track” to deliver a maiden JORC resource estimate by the end of this calendar year.
Additionally, LRS has received results from nine drill holes at the Monte Alto prospect, adjacent to Colina.
Although logging of the holes indicated pegmatites mapped at surface continued at depth, no material spodumene was logged in the core and no significant assays were returned.
As such, Latin believes the Monte Alto pegmatites may represent a “zoned heterogenous pegmatite”.
Moving forward at Salinas, regional mapping teams have recommenced field work to the west of resource drilling at Colina.
This work is focused on better defining known pegmatite occurrences and extending mapping coverage further in search for additional parallel systems.
Mr Greenaway said the company’s plan is to “work-up” these areas to drill-ready status with drilling to commence in the near term.
Latin shares last traded at 7.8 cents on July 26.