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Latin extend high-grade lithium

16 February 2023 10:04
ASX: LRS

Latin Resources continue to grow Colina West, with the latest drilling results extending the prospect’s high-grade lithium zone to over 500 metres along strike as no less than seven diamond rigs continue to drill over the Salinas project.

It shows more signs that Colina West will be a major contributor to an upcoming resource upgrade, hosted in a Minas Gerais region of Brazil renowned for lithium prospectivity.

Drilling intercepted thick and spodumene-rich pegmatites, defining an emerging priority zone extending over 500 metres along strike and 300 up dip, remaining open in all directions with a high-grade mineralisation envelope now confirmed within.

Assays are still pending, and the company said these results have continued to confirm the exceptional prospectivity of its landholding and the potential to expand its mineral resource inventory.

“We are continuing to see outstanding pegmatite intersections in our new drill core from the 2023 campaign. These intersections support our current interpretation of mineralisation, with the emergence of a clear, thick, plunging high‐grade envelope at Colina West which remains open in all directions,” geology manager Tony Greenaway said.

“We are seeing a significant increase in the abundance and thickness of spodumene pegmatites developed at Colina West, with this emerging priority area now extending over 500m along strike and 300m up‐dip. We will continue to target this area with more drilling to ascertain its limits and to provide sufficient drill coverage to include this area in our planned Mineral Resource update scheduled for the second quarter of this year.”

Latin have another diamond rig due on site as soon as this month, and aim to add reverse circulation to the mix, growing its fleet to ten and enabling rapid testing of a prospective corridor as its lithium campaign moves steadily onward.

Significant results:

  • 20.70m @ 1.51% Li2O from 159.00m
  • 10.00m @ 1.13% Li2O from 149.51m
  • 4.03m @ 1.60% Li2O from 125.12m and: 6.79m @ 1.52% Li2O from 267.37m
  • 5.03m @ 1.64% Li2O from 192.97m and: 5.52m @ 1.50% Li2O from 292.03m and: 16.43m @ 1.69% Li2O from 323.57m and: 18.89m @ 1.56% Li2O from 356.91m

LRS’ Australian Stock Exchange-listed share price has risen 4.35 per cent today, currently selling at 12c (10.01 am UTC+ 8 hours).

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