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 Lithium Prospect (“Colina”) (Appendix 1 and Figure 2).
HIGHLIGHTS
- Resource definition diamond drilling at the Colina Prospect remains on track for the delivery of a maiden JORC Mineral Resource Estimate (MRE) in December 2022, with over one third of planned 100 drill holes completed, total of approximately 8,451m.
- Regional mapping teams recommenced field work in the area to the south‐east at the Salinas South tenement area, where previous work identified a ‘lithium corridor’ over a distance of 4.0km.
- Latest assay results continue to show strong down dip continuity of both grade and thickness of the logged pegmatites. Results include:
SADD023: 26.88m @ 1.40% Li2O from 94m
Inc: 18.00m @ 1.61% Li2O from 97m
SADD026: 28.80m @ 1.16% Li2O from 307m
Inc: 14.80m @ 1.51% Li2O from 321m
SADD024: 10.00m @ 1.05% Li2O from 186m
Latin Resources’ Exploration Manager, Tony Greenaway, commented:
“Our latest results continue to show excellent high‐grade lithium intersections and continuity of the pegmatites along strike and down dip. We are well on schedule to deliver our maiden JORC Resource in December which is an exciting milestone for the company.
“Further to our extremely promising first pass results from our sighter metallurgical test work program (ASX release 24 August 2022), we will be collecting additional samples for further sighter test work in the coming weeks to further explore the optimal crush size and optimise the larger test work flowsheet for the planned detailed PEA program.
“I am also pleased to have our regional teams out mapping at Salinas South where we know we have more outcropping pegmatites. Our plan is to work‐up these areas to drill‐ready status, and then in the near term commence drilling to begin testing these new areas.”
Figure 1: Oblique image showing current model of the drilled pegmatite lenses at Colina and completed and planned drill traces
Colina Prospect – Resource Definition Drilling
Diamond drilling is on track for the delivery of the maiden Mineral Resource Estimate (“MRE”) for Colina in December this year. Latest assay results from diamond drilling at the Company’s 100% owned Colina Prospect, part of the broader Salinas Lithium Project in Brazil, continue to confirm the continuity of grade and thickness of the high‐grade Colina pegmatites at depth (Figure 2).
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