Latin Resources

Colina West Continues To Grow With High‐grade Zone Extended To Over 500M Along Strike

2023 drilling campaign gathering momentum with seven diamond drilling rigs currently on‐site drilling

Latin Resources Limited (ASX: LRS) (“Latin” or “the Company”) is pleased to provide the latest assay results and an update on the progress of the 2023 drilling campaign at the Company’s 100% owned Colina Lithium Deposit (“Colina”) located in the state of Minas Gerais, Brazil (Appendix 1).


HIGHLIGHTS

  • Recent drilling is showing very positive signs that Colina West will become a major contributor to the Salinas lithium JORC Resource upgrade.
  • Thick spodumene rich pegmatites intersected at Colina West (assay results pending), defining emerging priority growth zone extending for over 500m along strike and 300m up dip which remains open in all directions.
  • High‐grade mineralisation envelope confirmed at Colina West from latest drilling results within this zone.
  • Latest results include:
    • SADD061: 20.70m @ 1.51% Li2O from 159.00m
    • SADD062: 10.00m @ 1.13% Li2O from 149.51m
    • SADD063: 4.03m @ 1.60% Li2O from 125.12m
      and: 6.79m @ 1.52% Li2O from 267.37m
    • SADD070: 5.03m @ 1.64% Li2O from 192.97m
      and: 5.52m @ 1.50% Li2O from 292.03m
      and: 16.43m @ 1.69% Li2O from 323.57m
      and: 18.89m @ 1.56% Li2O from 356.91m
  • Seven diamond drilling rigs currently on site and one additional diamond drilling rig due in late February ‐ early March with 2023 drilling campaign well on track.
  • Latin aims to add Reverse Circulation capability to grow the drilling fleet on site to ten, enabling the rapid ‘step‐out’ testing of the prospective lithium corridor.

Latin Resources’ Geology Manager, Tony Greenaway, commented:

“These results continue to confirm the exceptional prospectivity of the Latin landholding, and the potential to expand our mineral resource inventory. We are continuing to see outstanding pegmatite intersections in our new drill core from the 2023 campaign. These intersections support our current interpretation of mineralisation, with the emergence of a clear, thick, plunging high‐grade envelope at Colina West which remains open in all directions.

“We are seeing a significant increase in the abundance and thickness of spodumene pegmatites developed at Colina West, with this emerging priority area now extending over 500m along strike and 300m up‐dip. We will continue to target this area with more drilling to ascertain its limits and to provide sufficient drill coverage to include this area in our planned Mineral Resource update scheduled for the second quarter of this year.”

2022 Drilling Assay Results

Results from drilling completed in late 2022 have been returned from the laboratory and continue to show good correlation with the JORC 2012 Indicated and Inferred Mineral Resource Estimate (“MRE”). Results include holes from both within the existing Colina Deposit MRE model, and the Colina West area which is currently outside of the MRE block model (Figure 1 – Figure 4).

Recent intersections include:

  • SADD061: 20.70m @ 1.51% Li2O from 159.00m
  • SADD062: 10.00m @ 1.13% Li2O from 149.51m
  • SADD063: 4.03m @ 1.60% Li2O from 125.12m
    and: 6.79m @ 1.52% Li2O from 267.37m
  • SADD070: 5.03m @ 1.64% Li2O from 192.97m
    and: 5.52m @ 1.50% Li2O from 292.03m
    and: 16.43m @ 1.69% Li2O from 323.57m
    and: 18.89m @ 1.56% Li2O from 356.91m

Figure 1: Colina drill collar location showing projected Colina MRE block model, dill collar locations and drill traces, an interpreted Leapfrog mineralisation envelope for Colina West


Click here for the full ASX Release

This article includes content from Latin Resources, 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.

LRS:AU
The Conversation (0)
Lithium periodic symbol and Canadian flag.

Top 5 Canadian Lithium Stocks of 2025

The lithium market continued to battle headwinds during the first quarter of 2025 as residual oversupply weighed on prices, pushing them to a four year low.

Weaker-than-expected demand to start the year also added pressure to the oversupplied market, resulting in the lithium carbonate CIF North Asia price to fall below US$9,550 per metric ton, its lowest point since 2021.

Analysts have suggested the persistent downturn is the signaling of a market bottom. This theory is further supported by a projected production reduction that will help absorb market oversupply.

Keep reading...Show less
Green blocks with leaves on them push purple blocks with "CO2" written on them.

Funding the Energy Transition: The Role of Public and Private Finance in Building Supply Chains

The energy transition demands substantial funding as participants look to build out infrastructure and supply chains, but experts say new solutions are emerging to help navigate this landscape.

During the "Financing the Energy Transition" panel at the Benchmark Summit, participants discussed the role of government and public sector investment, as well as the outlook for Canada's electric vehicle (EV) supply chain.

Moderated by Adam Webb, head of battery raw materials at Benchmark Mineral Intelligence, the discussion at the Toronto-based event opened with a snapshot of Canada’s EV battery supply chain buildout.

Keep reading...Show less
International Lithium Chairman and CEO John Wisbey.

International Lithium Plans PEA on Rubidium Resource at Raleigh Lake Project, CEO Says

John Wisbey, CEO of International Lithium (TSXV:ILC), discusses the company's strategic sale of its Irish lithium property, progress on the Raleigh Lake lithium-rubidium project in Canada and expansion efforts in Zimbabwe.

Lithium Universe

Lithium Universe


Keep reading...Show less
Lithium periodic symbol and powder overlayed with world map.

Top 4 Largest Lithium Reserves by Country

Those interested in the lithium sector and investing in lithium stocks are often curious about which countries are the top producers of the battery metal, but they may not stop to consider the top lithium reserves by country.

Major lithium-producing countries are, of course, home to a large number of lithium companies. Many of the world’s top lithium producers also hold significant reserves, and their reserves can give an idea of how much room those countries have to grow. At the same time, nations with high reserves may become more significant lithium players in the future.

Looking forward, lithium demand is expected to continue increasing. That’s because, together with metals such as cobalt, lithium is a key raw material in the lithium-ion batteries used to power electric vehicles, and it is also essential for the energy storage sector.

Keep reading...Show less

Latest Press Releases

Related News

×