FREE DAILY STOCK MARKET NEWS

FREE DAILY STOCK MARKET NEWS

Latin Extend Colina’s Lithium

12 April 2023 13:56
ASX: LRS

Latin Resources continue to shore up the Salinas project’s lithium potential, with newly delivered assays from an ongoing resource definition drilling campaign at the project’s Colina Deposit further extending known mineralisation across a 1km by 1km area.

Drilling has uncovered that mineralisation continues to a depth of 400 metres across the pegmatite swarm and remains open in all directions with the rig pulling up intersections up to 14.00m @ 1.55% Li2O from 323.00m including: 5.00m @ 1.99% Li2O from 323.00m.

New intersections include:

• SADD080: 12.59m @ 1.46% Li 2O from 274.46m
• SADD081: 16.92m @ 1.36% Li 2O from 242.48m
• SADD082: 27.15m @ 1.45% Li 2O from 237.00m

Latin is just under halfway finished with the 65-thousand-metre campaign with 102 holes now completed at the Brazilian project and results so far have the company confident that it will be able to grow the project’s already significant MRE of 13.2Mt @ 1.2% Li2O.

With the campaign close to completion, the explorer is already giving thought to its next steps, with a drilling campaign targeting the Salinas South target, where previous exploration identified a 4km “lithium corridor”, set to fire up in the next two months.

Alongside further drilling, a pilot plant DMS + float metallurgical test work program is scheduled to commence in the third quarter of this year following up on previous metallurgical test work that showed an exceptional average lithium recovery rate exceeding 80 per cent.

The company said that it remains on track to deliver Colina’s MRE in June.

“We continue to see great results coming out of the resource definition drilling at our Colina Deposit. The consistency in both the pegmatite thickness and lithium grades is extremely encouraging, bolstering our confidence to be able to deliver what we believe will be a significant upgrade to the Colina mineral resource in June,” Geology Manager Tony Greenway said.

“We are very focused on finding the extents of the rapidly growing system at Colina, where the pegmatite swarm remains open in all directions. Drilling is progressing very well, and we are on track to close off our drilling database in mid-May to enable the JORC Resource estimation process to commence in June.”

Latin still remains in ongoing discussion regarding offtake for Salinas lithium with a number of interested international trading houses, and car and battery manufacturers.

LRS’ Australian Stock Exchange-listed share price is currently trading at 10.5c (1.50 pm UTC+ 8 hours).

The Market Bull Logo

FREE DAILY STOCK MARKET NEWS

Join our mailing list to receive the latest stock market news.

You have Successfully Subscribed!

Share This