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Latin enlarging lithium at Salinas

24 January 2023 06:32
ASX: LRS
LRS Salinas

Latin Resources have brought in results from last year’s drilling campaign over the wholly owned Salinas lithium project, confirming its assessment that the Colina West prospect represents an exceptional growth opportunity for a lithium resource.

The results continue to build up a pair of Brazilian lithium prospects at Salinas, with an expansive diamond drilling campaign already underway.

Drill hole SADD055 was a standout, returning multiple high-grade intersections greater than 10 metres thick, with over 67 meters of cumulative mineralised lithium pegmatites intersected and a top result of 13.73m @ 1.38% Li2O from 200.19m.

And it was hardly alone, with multiple other returns exceeding 1.25 per cent Li20, including a 14m @ 1.35% Li2O from 289.58m strike at hole ADD053.

The company said the results were exceptional, and that Colina West was shaping into a critical new discovery,

“The thick high‐ grade mineralisation we have encountered here is on par with, or arguably better that the main Colina deposit,” geology manager Tony Greenaway said.

“The potential scale of the Colina West discovery, highlighted by these latest results, means that this area is a major focus for our current 2023 drilling campaign. We believe, that with more drilling, Colina West has the potential to deliver significant tonnes to the overall resource base for the Project.”

Latin stands fully funded for a rapid resource growth strategy, with 65 thousand metres of diamond drilling set to grow an existing 13.3 million tonnes at 1.2 per cent lithium oxide MRE at the Colina deposit — and bring in the initial mineral resource definition from a rapidly emerging Colina West.

Latin Resources now look forward to continuing its lithium campaign and delivering resource upgrades through the year.

Significant results:

SADD055:

  • 13.73m @ 1.38% Li2O from 200.19m
  • 16.08m @ 1.07% Li2O from 306.69m
  • 10.85m @ 1.96% Li2O from 322.15m
  • 11.16m @ 1.61% Li2O from 360.17m
  • 16.00m @ 1.61% Li2O from 393.60m

Other significant intersections:

  • SADD053: 14.00m @ 1.35% Li2O from 289.58m
  • SADD057: 20.17m @ 1.66% Li2O from 136.99m
  • SADD059: 14.70m @ 1.27% Li2O from 109.90m
  • SADD060: 15.96m @ 1.56% Li2O from 350.09m

 

 

LRS Colina West Map

Colina West Drill Section B‐B’ showing selected SADD055 intersections, and the Colina Deposit MRE block model (>0.5% Li blocks only projected to surface).

 

LRS’ Australian Stock Exchange-listed share price was trading at 12c today (6.36 am UTC+ 8 hours).

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