Latin Resources (ASX: LRS) has encountered further ‘high-grade’ lithium mineralisation following additional diamond drilling conducted at its Salinas Lithium Project in Brazil.
The results, generated from two holes in the project’s southern area, include a key intersection of 2m @ 3.07% Li2O from 65.65m and point to the presence of ‘thick’ pegmatites to the south.
Key grades include:
- Hole SADD004: 17.38m @ 1.46% Li2O from 119.80m incl.
- 10.20m @ 2.05% Li2O from 120.95m incl.
- 3.05m @ 2.26% Li2O from 120.95m and.
- 2m @ 3.07% Li2O from 127m
- 10.20m @ 2.05% Li2O from 120.95m incl.
- Hole SADD003: 17.05m @ 0.95% Li2O from 65.65m incl.
- 4.0m @ 1.96% Li2O from 69.65m
- 5.15m @ 1.31% Li2O from 98.35m incl.
- 1.90m @ 2.13% Li2O from 98.35
In addition, drilling approximately 350m north of known lithium mineralisation has returned continuation of spodumene-bearing pegmatites over 1km of strike, ‘considerably’ expanding the target.
Commenting on the results, Latin Resources Managing Director Chris Gale said: “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. 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.
“We have now confirmed our initial observations that the logged lithium bearing pegmatites are increasing in thickness as we move south”
We are also very excited to have intersected fresh spodumene in hole SADD0011, which is quite a way out to the north of our previous drilling in what appears to in fact 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. We have now confirmed spodumene bearing pegmatites over a continuous strike length approaching one kilometre.
As we announced last week, we have expanded out tenement holding in the area to cover another known high-grade lithium outcropping pegmatite. This new area will become our second frontline in the area, as we move to fast-track mineral resource definition with infill and step-out drilling at our initial prospect; and in parallel commence on our new Monte Alto prospect to the east.
With more assay results to come from holes SAD005 and SAD006, the strong evidence of a northern extension of the spodumene pegmatite system, and the commencement of drilling on a second working front at Monte Alto it is an extremely exciting time for the company. Expect more to come over the next few weeks.”
The company reports that these results continue to display consistent down dip grades, and provide further support for fast-tracking mineral resource drilling at this ‘potentially significant’ lithium occurrence.
Map displaying significant intersections from the southern target area at the Salinas Lithium Project in BrazilWith the drill campaign at Salinas ongoing, Latin reports that it will mobilise a drill rig to its Monte Alto Project while awaiting receipt of further assay results.
A maiden JORC Mineral Resource Estimate is expected later this year following infill and step out drilling, and finalisation of assays at Salinas.
Images: Latin Resources Ltd
