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Latin Resources Limited (ASX: LRS) (“Latin” or “the Company”) is pleased to announce that the first assay results from drilling at the Salinas Lithium Project in Brazil (“Salinas Lithium Project”), have confirmed that the previously reported spodumene rich pegmatites contain high-grade lithium with a peak grade of 3.22% Li2O returned from one sample1 . These positive assay results at the Salinas Lithium Project in Brazil are growing Latin’s confidence of a potential new, high-grade lithium discovery. Assay results from the sampled pegmatite zones in the first two diamond holes (SADD001 and SADD002) (Figure 1 and Figure 2), show that the two main logged pegmatites (Figure 2, Peg_1 and Peg_2), both contain significant lithium, with Peg_2 showing a consistent higher grade in both holes (Table 1)1 .
HIGHLIGHTS
- First assay results from the initial two drill holes completed at the Southern Target area of the Salinas Lithium Project in Brazil have confirmed a potential new high-grade lithium discovery.
- Excellent assay results with the presence of high-grade lithium in pegmatites, with a peak individual grade of 3.22% Li2O.
- First major intersections include:
- SADD001: 4.31m @ 2.22% Li2O, from 83.82m Including: 1.13m @ 2.85% Li2O, from 87.0m
- SADD002: 8.13m @ 2.00% Li2O from 111.3m Including: 1.0m @ 3.22% Li2O from 112.3m and: 3.0m @ 2.20% Li2O from 115.3m
- Assay results show consistent down-hole grade profiles in both holes, with a strong grade correlation down dip between the individual pegmatites in each hole.
- Logging of all holes drilled to date indicates the consistent development of the separate pegmatites across a strike length of 500m, which remains open along strike.
- The pegmatites are generally increasing in thickness along strike to the south, where assay results from the next four holes are pending.
- The positive assay results now increase the Company’s growing confidence that it has discovered a significant lithium occurrence.
- The drilling will now be focused on the Southern Target area where the pegmatites are thicker and remain open to the south, where the Company will commence infill and step-out drilling.
Table 1: Selected significant lithium (>0.4% Li2O) pegmatite intersections from Salinas Lithium Project diamond drilling. Refer to Appendix 1, Table 3 for full assay results.
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This article includes content from Latin Resources Limited , licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
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