Latin Resources

Salinas Lithium Project Tenure Expanded By Over 367%

Latin secures significant new tenement package in the highly prospective Bananal Valley region

Latin Resources Limited (ASX: LRS) (“Latin” or “the Company”) is pleased to provide an update on the expansion of the Salinas Lithium Project (“Salinas”) in Brazil, which hosts the Company’s 100% owned Colina Lithium Deposit (“Colina”) (Appendix 1).


HIGHLIGHTS

  • The Company has significantly expanded the Salinas Lithium Project tenure, by securing a large package of new tenements in the highly prospective region which hosts the Company’s 100% owned Colina Lithium Deposit.
  • 17 new applications covering over 29,940 hectares have been lodged with the Brazilian National Mining Agency (ANM) over what the Company believes to be areas that contain favourable basement lithologies to host lithium bearing pegmatites, like those found at Colina.
  • These new tenements represent an expansion of approximately 367% over the Company’s previous holdings, to a total of over 38,000 hectares now under Latin’s control.
  • The Company has also secured the rights to additional mining rights directly adjacent to the South of Colina, where drilling by the Company has confirmed the extension of the Colina host lithologies and pegmatitic intrusive bodies (assay results pending), by signing a new option agreement.
  • The current 65,000m diamond drilling program which commenced in early January, will focus on the expansion of the existing Colina Mineral Resource Estimate to the west and south. The Company is will also undertake first pass reconnaissance drilling at the existing Salinas South and Lajinha Prospect areas in the coming months.
  • The Company’s regional exploration team will be undertaking initial reconnaissance mapping and geochemical sampling over the new project tenements as a part of its exploration strategy in the now expanded Salinas district.
Latin Resources’ Geology Manager, Tony Greenaway, commented:

“The Bananal Valley region is a highly prospective district, as we have proved with the discovery and delineation of the Colina Lithium Deposit. Our proprietary knowledge gained over the past 12 months throughout the resource definition drilling of Colina, coupled with our understanding of the wider regional controls to mineralisation in this area, has enabled us to identify these opportunities to secure what we believe are favourable exploration areas for the Company.”

Latin Resources’ Managing Director, Chris Gale, commented:

“The Salinas Lithium Project is continuing to grow to potentially become one of the world’s leading lithium projects with this expanded tenement package. With the recent publication of our Maiden JORC Lithium Resource, the aggressive 65,000 metres drill program planned for 2023 and feasibility studies well underway, we are extremely excited about this year for Latin Resources.”

New Tenement Applications

The Company significantly expanded its mineral exploration title holdings in the highly prospective Bananal Valley District in Minas Gerais, Brazil, through lodging 17 new applications with the Brazilian National Mining Agency (ANM), over an area of more than 29,940 hectares of what the Company believes to be favourable basement lithologies (Figure 1).

The Company now controls approximately 38,100 hectares (381km2), which represents a significant land position in the region.

The new tenements are located to the north of the Company’s existing land holdings where the Company has defined a maiden Mineral Resource Estimate (“MRE”), for the Colina Deposit 1of 13.3 Mt @ 1.2% Li2O, along with a JORC Exploration Target Range1 (“ETR”) for Colina of 13.5 – 22 Mt with a grade range of 1.2 – 1.5% Li2O, in early December 2022.

Figure 1: Salinas Lithium Project tenure, showing new tenement application to the north of the Company’s 100% owned Colina Lithium Deposit, existing LRS tenure, and tenements currently under LRS option agreements

Utilising the available government and other proprietary data sets, including regional magnetic data, mineral mapping and solid in-house geological interpretations, the Company has undertaken a regional desktop prospectivity review of the wider Bananal Valley District surrounding the Colina Deposit. The resulting new tenement applications cover areas that have been interpreted by the Company to be favourable for the presence of lithium bearing pegmatites.

The majority of these areas are considered by the Company to be ‘green-fields’ exploration areas. The Company will commence preliminary reconnaissance work including the ground truthing and geological mapping and regional scale geochemical sampling.

Other works including airborne geophysical and remote sensing survey may also be undertaken over specific areas highlighted as part of the initial reconnaissance work by the Company’s field exploration teams.


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)
Jindalee Lithium

Jindalee Lithium


Keep reading...Show less
Lithium batteries and wires with a lithium periodic symbol and rocks on a dark surface.

Green Technology Metals Boosts Market Position through Root Lithium Project

North America-focused Green Technology Metals (ASX:GT1,OTC Pink:GTMLF) has completed an updated preliminary economic assessment (PEA) for its Root lithium project in Ontario, Canada.

Green Technology Metals said that the PEA evaluated Root on a standalone basis, while the December 2023 PEA combined Root with the company's advanced Seymour lithium project. The new PEA took into consideration the recently updated Root Project MRE, revised pit optimisations and mine development options, and changed lithium market conditions.

“(The PEA confirms Root) as a technically and economically robust standalone operation,” Managing Director Cameron Henry said in an April 9 release. “With a longer mine life, reduced upfront capital requirements, and strong economics, Root is well-positioned to support GT1’s broader strategy of establishing a vertically integrated lithium supply chain in Ontario.”

Keep reading...Show less
CleanTech Lithium

CleanTech Lithium


Keep reading...Show less
Expansive salt flat with polygonal patterns, distant mountains under a clear blue sky.

Types of Lithium Brine Deposits

The growing global adoption of electric vehicles (EVs) is driving lithium demand, and it’s important for investors interested in the battery metal to understand the different lithium deposit types found around the world.

Lithium is mined from three types of deposits: brines, pegmatites and sedimentary rocks. Global lithium reserves are estimated at 30 million metric tons (MT), and continental brines and pegmatites are the main sources for commercial production.

A University of Michigan study published in the Journal of Industrial Ecology explains, “The feasibility of recovering lithium economically from any deposit depends on the size of the deposit, its lithium content … the content of other elements and the processes that are used to remove the lithium-bearing material from the deposit and extract lithium from it.”

Keep reading...Show less

Latest Press Releases

Related News

×