
- NORTH AMERICA EDITIONAustraliaNorth AmericaWorld
January 16, 2023
65,000m diamond drilling program at Colina & Colina West
Latin Resources Limited (ASX: LRS) (“Latin” or “the Company”) is pleased to announce that field teams and drilling rigs have arrived on site for the scheduled commencement of the 2023 drilling program at the Company’s 100% owned Salinas Lithium Project (“Salinas”) (Appendix 1).
HIGHLIGHTS
- Six small footprint diamond drilling rigs have arrived on site and commenced drilling at the Company’s flagship Salinas Lithium Project in Brazil.
- Two additional larger, track mounted diamond drilling rigs are scheduled to arrive on site in February.
- 65,000m mineral resource infill and expansion program will focus on fast-tracking the growth of the Colina Indicated and Inferred Mineral Resource, and mineral resource definition for the Colina West Prospect.
- Upgrade and expansion of the Company’s core logging, processing, and storage facility nearing completion.
- Targeted large diameter PQ diamond core drilling for detailed metallurgical DMS pilot plant and other testwork will commence in February.
A total of six, small environmental footprint, man portable/ modular diamond drilling rigs capable of drilling to depth of circa 400-450m below surface have arrived on site and have commenced drilling (Figure 1). The Company has a 65,000m diamond drilling program planned for 2023, and is committed to minimising the environmental impact of this work by using these innovative and low-impact rigs.
Figure 1: Man portable/ modular diamond drilling rig on site at the Colina Deposit Brazil, capable of drilling to over 400m depth, with minimal environmental impact
A further two, larger track mounted, drilling rigs capable of drilling to far greater depths, and producing larger diameter PQ drill core are scheduled to arrive on site in February, bringing the total drilling fleet to eights rigs for the season.
2023 Drilling Program
The planned 65,000m program focuses on the rapid expansion of the Company’s maiden Indicated and Inferred JORC Mineral Resource Estimate (“MRE”) of 13.3Mt @ 1.2% Li2O1 at the Colina Deposit (Figure 2); as well as providing sufficient drill coverage over the Colina West Prospect to enable the expansion of the existing MRE into this emerging high priority area (Figure 2).
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)
10h
Saskatchewan Implements New Lithium Royalty
Saskatchewan has introduced a new royalty framework for lithium production, marking a major step toward supporting the province’s growing role in Canada’s critical minerals sector. The amendments to The Subsurface Mineral Royalty Regulations, 2017 formally establish a 3 percent Crown royalty on... Keep Reading...
06 October
From Rock to Road: Investing in Ontario’s Looming EV Boom
The momentum around the global energy transition has underscored the critical importance of establishing secure, ethical and efficient critical mineral supply chains, leading to renewed interest in jurisdictions with the right resources but without the geopolitical baggage. And Ontario, Canada... Keep Reading...
02 October
UPS Batteries For Explosive (EX & ATEX) Environments
Altech Batteries (ATC:AU) has announced UPS Batteries For Explosive (EX & ATEX) EnvironmentsDownload the PDF here. Keep Reading...
01 October
Lithium Americas and GM Advance Thacker Pass with Landmark Federal Funding
Developer Lithium Americas (TSX:LAC,NYSE:LAC) has reached an agreement with General Motors (NYSE:GM) and the US Department of Energy (DOE) to unlock the first US$435 million installment of a landmark federal loan for its Thacker Pass lithium project in Nevada.The company confirmed on Wednesday... Keep Reading...
26 September
Top 5 Canadian Mining Stocks This Week: Lithium Americas Jumps 126 Percent
Welcome to the Investing News Network's weekly look at the best-performing Canadian mining stocks on the TSX, TSXV and CSE, starting with a round-up of Canadian and US news impacting the resource sector.Statistics Canada released its natural resource indicators report for the second quarter on... Keep Reading...
24 September
Lithium Americas Shares Spike as Trump Admin Seeks Equity Stake
The Trump administration is pressing for up to a 10 percent equity stake in Lithium Americas (TSX:LAC,NYSE:LAC) as it renegotiates the terms of a US$2.26 billion loan tied to the Thacker Pass project. Two people familiar with the talks told Reuters on Tuesday (September 23) that the stake was... Keep Reading...
Latest News
Latest Press Releases
Related News
TOP STOCKS
American Battery4.030.24
Aion Therapeutic0.10-0.01
Cybin Corp2.140.00