Australian mineral exploration company Latin Resources (ASX:LRS) has recorded further ‘high-grade’ intersections at the Colina lithium deposit, located within the Salinas Lithium Project in Brazil.
The company reports its 2023 resource definition diamond drilling program is progressing well, with a total of 32,000m of the planned 65,000m now completed across 109 drillholes.
Recent assay results from drill core samples continue to highlight the consistency of the ‘high-grade’ pegmatite swarm at Colinas, with mineralisation now defined over an area of 1km by 1km and depth of 400m below surface. Latin notes the pegmatite swarm remains open in all directions and at depth, with drilling ongoing.
Latest intersections recorded include hole SADD078 with 14m @ 1.55% lithium oxide (Li2O) from 323m including 5m @ 1.99% Li2O from 323m; SADD080 with 12.59m @1.46% Li2O from 274.46m; and SADD081 with 16.92m @ 1.36% Li2O from 242.48m.
Commenting on the results, Latin Resources Geology Manager, Tony Greenaway says: “We continue to see great results coming out of the resource definition drilling at our Colina deposit.
The consistency in both the pegmatite thickness and lithium grades is extremely encouraging, bolstering our confidence to be able to deliver what we believe will be a significant upgrade to the Colina mineral resource in June.
“Drilling is progressing very well, and we are on track to close off our drilling database in mid-May to enable the JORC resource estimation process to commence in June”
We are very focused on finding the extents of the rapidly growing system at Colina, where the pegmatite swarm remains open in all directions. Drilling is progressing very well, and we are on track to close off our drilling database in mid-May to enable the JORC resource estimation process to commence in June.”
Latin reports the ongoing expansion of the Colina lithium pegmatites, as well as the ‘strong’ correlation seen between drillholes and drill sections, provides the company with increased confidence of the potential to ‘significantly’ grow the existing 13.2 million tonnes @ 1.2% Li2O Mineral Resource Estimate (MRE).
The company says SGS geological consultants have completed site inspections of the new drill core including the intersection of 33.07m @ 1.83% Li2O recorded in hole SADD077, in preparation for the MRE update planned for June 2023.
In addition to the current resource definition drilling campaign, Latin also reports it has completed regional mapping activities at the Salinas South tenement, located about 17km southwest of Colina where previous exploration work identified a lithium corridor extending across 4km.
Soil sampling completed towards the end of the previous campaign highlighted an area of anomalous lithium in the northeast of the tenement. The company reports the new mapping has identified initial drill targets that are intended to be drill tested in May and June 2023.
Latin also notes final selection of a representative bulk sample for the next round of metallurgical testwork is in the final stages, with drilling of large diameter PQ sized drill core set to begin in May. This proposed testwork will follow on from the existing heavy liquid separation (HLS) testwork that returned recoveries of over 80.5% lithium in a concentrate grading up to 6.6% Li2O.
Latin Resources is an Australian mineral exploration company focused on the Salinas Lithium Project in the Minas Gerais district of Brazil. The company also holds the Catamarca Lithium Project in Argentina, and the Cloud Nine Halloysite-Kaolin deposit in Western Australia.
Images: Latin Resources Ltd