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Latin kick-off at Colina

17 January 2023 06:41
ASX: LRS

Latin Resources are starting off 2023 strong, having just fired up the rig over its Salinas lithium project in Brazil for over 65 thousand metres of drilling targeting both Colina and Colina West prospects.

Field teams and drill rigs are on site for a drill program focused on fast-tracking the growth of Colina’s massive 13.3 million tonnes at 1.2 per cent lithium oxide MRE and providing a mineral resource definition for Colina West.

Two further rigs are expected to arrive in February, bringing the season’s total drilling fleet to eight rigs.

Infill and extension drilling at Colina will focus on down dip extension of high-grade mineralisation in the north, with drilling at Colina west following up on previous drilling which showed the presence of multiple spodumene-bearing pegmatites including some thick high-grade intersections.

Meanwhile, the upgrade and expansion of Latin’s on-site core logging, processing and storage facility is expected to wrap up in early February, facilitating a significant increase in drilling activity for the rest of the year.

The company said 2022 was a stand-out year and it is excited to have fired the rig back up again.

“We will be looking at rapidly expanding our mineral resource base through infill and extension drilling at Colina, and systematically drilling out the new Colina West Prospect,” geology manager Tony Greenaway said.

“While we are still waiting to receive all the assay results from the additional holes completed in Colina West toward the end of last year, we are confident that with continued drilling, we will be in a position to upgrade and expand our mineral resource base in the 2023 March quarter.”

Latin is also planning a detailed drone magnetic survey and a geophysics survey to assist targeting of step-out drilling along strike from Colina and Colina West, expected to start later this month.

LRS’ Australian Stock Exchange-listed share price was trading at 12c today (6.40 am UTC+ 8 hours).

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