Latin Resources Limited (ASX: LRS) (“Latin” or “the Company”) is pleased to provide the following update on resource definition drilling and other studies currently ongoing at the Company’s 100% owned high-grade Colina Prospect (“Colina”) (Appendix 1 and Figure 1).
HIGHLIGHTS OF RESOURCE DEFINITION DRILLING
- Recently completed drilling in hole SADD033 has confirmed the prospectivity of the area approximately 500m to the west of the Colina Prospect, with the intersection of a swarm of spodumene bearing pegmatites including one of 18.75m thickness (assay results pending).
- Regional mapping has also highlighted a third outcropping pegmatite system further to the west, and the potential convergence of the Colina and Colina West pegmatite systems.
- Latest assay results from the Colina resource definition drilling continue to return strong results including:
SADD021: 20.40m @ 0.97% Li2O from 120.60m
Inc: 10.00m @ 1.20% Li2O from 120.60m
5.81m @ 1.53% Li2O from 188.93m
SADD022: 20.09m @ 1.35% Li2O from 71.00m
Inc: 2.00m @ 2.17% Li2O from 73.00m
and: 2.00 @ 2.32% Li2O from 80.00m
The Salinas exploration team has reported a new lithium spodumene discovery with the recently completed hole of SADD033 approximately 500 metres west of the Colina Prospect. The drilling has discovered an intersection of a new swarm of spodumene bearing pegmatites including one of 18.75m in thickness. This discovery at Colina West has significant scale implications for the Salinas Lithium Project, if drilling confirms the presence of additional parallel mineralised pegmatite systems in close vicinity to the main Colina Prospect.
In addition to this significant discovery at Colina West, the Company’s regional mapping campaign has highlighted a third outcropping pegmatite system one kilometre further out to the west of the new Colina West discovery hole, as well as a potential convergence of several pegmatites, including the main Colina and new Colina West systems. The Company will look to systematically drill test both of these additional high priority target areas in due course.
Latin Resources’ Exploration Manager, Tony Greenaway, commented:
“The intersection of these significant spodumene pegmatites in drill hole SADD033, is an impressive new discovery for the Salinas exploration team. This hole is testing an area approximately 500m to the west of Colina, well outside of our current resource definition drilling focus. We knew there were additional parallel pegmatite systems out to the west, getting these spodumene intersections confirms the very high prospectivity of the wider project area.
“While we will continue to focus on the resource definition drilling for Colina to ensure that we deliver our maiden JORC Resource as planned, we are preparing additional drill site at Colina West for drill testing in due course.
“This spodumene pegmatite discovery at Colina West may have the potential to deliver additional shallow resource tonnes for the project with further drill testing.”
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