Sydney, Australia – Latin Resources Limited (ASX: LRS) ("Latin" or "the Company"), an Australian-based mineral exploration company, is thrilled to announce the receipt of multiple high-grade assay results from its ongoing resource drilling program at the Colina Deposit, part of the Company’s 100% owned Salinas Lithium Project in Brazil. These results not only affirm the continuity, thickness, and quality of the mineralisation but also mark one of the largest lithium intersections ever recorded at the Salinas Project.
Key Highlights from the Colina Deposit Drilling Program:
- Record-Breaking Intersection: A staggering 32.92m at 1.62% Li2O from 325.19m, including 27.81m at 1.80% Li2O, was encountered in drill hole SADD246, setting a new record for the project.
- Consistent High-Grade Results: Additional significant intercepts from 29 completed diamond drill holes include grades up to 1.94% Li2O, demonstrating the high-grade nature of the lithium mineralisation across the central zone of the Colina Deposit.
- Substantial Mineral Resource Estimate (MRE) Contributions: True thickness analysis reveals that 75% of the December 2023 MRE is derived from pegmatites greater than 5m in true thickness, with 39% coming from pegmatites over 15m thick.
- Upcoming Milestones: Latin Resources is preparing for the fourth update of the Colina MRE in Q2 2024, followed by the release of the Definitive Feasibility Study (DFS) in Q3 2024.
Ongoing Commitment to Resource Expansion and Definition:
The latest assay results are part of Latin Resources' comprehensive drilling campaign aimed at expanding and defining the resource at the Colina Deposit. With 16 rigs currently operational, the 2024 drilling program encompasses resource definition, metallurgical, and geotechnical drilling. This initiative is designed to increase tonnage, upgrade the confidence level in the current Colina MRE, and identify new priority drill targets within the Salinas Project area.
Latin Resources’ Vice President of Operations - Americas, Tony Greenaway, commented:
“With the Colina deposit infill drilling almost complete we are gearing up to run our next Mineral Resource Estimate. This update will be focused on increasing the JORC mineral classification of the existing 63.5Mt resource to enable the declaration of Mineral Reserves as part of the DFS which is currently underway. Results from our infill drilling have closely match our existing data, confirming the robustness of our early interpretations for the Colina Pegmatites. Once the infill drilling is completed, we will refocus some of our drilling fleet back onto our high priority exploration target at Planalto, where our first drill hole intersected thick high-grade mineralisation.”
About us:
Latin Resources Limited (ASX: LRS) is an Australian-based mineral exploration company, with projects in South America and Australia, that is developing mineral projects in commodities that progress global efforts towards Net Zero emissions.
Contact details:
Jane Morgan