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Latin Resources Limited (ASX: LRS) (“Latin” or “the Company”) is very pleased to announce that the latest assay results from drilling at the Salinas Lithium Project in Brazil, continue to confirm high-grade lithium with a peak grade of 2.0m @ 3.07% Li2O returned in hole SADD0041 . These continued very positive results from the Salinas Lithium Project in Brazil provide Latin with the confidence to expand the drilling team to facilitate the fast tracking of systematic mineral resource definition drilling
HIGHLIGHTS
- Results received from the latest two diamond drill holes at the Salinas Lithium Project have confirmed the continuity of the previously reported high-grade lithium pegmatites, and upgraded the project through now confirming the thickening of the logged pegmatites to the south.
- More outstanding assay results show further high-grade lithium in pegmatites, with a peak of 2.0m @ 3.07% Li2O. All results remain open along strike and down dip.
- Intersections include:
- Assay results continue to show consistent down hole and down dip grade profiles, which is now demonstrated across the first two wide spaced drill sections.
- Drilling of SADD011, approximately 350m to the north of drilling reported above, has confirmed the continuation of spodumene bearing pegmatites over a strike extent approaching one kilometre. This positive result indicates a possible link of a mineralised system to the south target, expanding the strike considerably. Planning for additional drill testing is being carried out to test this middle zone.
- These further very positive assay results provide the Company the confidence to secure additional drilling rigs in order to fast-track mineral resource definition drilling, of what it believes could be a significant lithium occurrence.
Latin Resources’ Managing Director, Chris Gale, commented:
“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 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 drilling on our new Monte Alto prospect to the east.
“With more assay results to come from holes SADD005 and SADD006, 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.”
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