Latin Resources Ltd (ASX:LRS, OTC:LRSRF) has made multiple spodumene discoveries in its Salinas Lithium Project in Brazil, confirming the presence of a district-scale lithium corridor.
The company has intersected spodumene-rich pegmatites in diamond drill holes at two separate locations within the lithium corridor. Assay results are pending for these discoveries.
LRS says the successful drilling of a blind geophysical target some 560 metres southwest of the Colina deposit confirms the extension of the Colina pegmatite system.
Spodumene-rich pegmatite system
Three out of four completed holes intersected shallow east-dipping, course-grained spodumene-rich pegmatites.
Visual observations of one hole, SADD132, identified 29.86 metres of spodumene pegmatite mineralisation.
Drilling has also begun at the Fog's Block tenement, around 12 kilometres southwest of Colina.
The first hole, MCDD001, intersected multiple shallow east-dipping, course-grained spodumene pegmatites, with visual observations identifying 32.69 metres of spodumene pegmatite mineralisation.
In addition, a new pegmatite occurrence has been identified through outcrop mapping 6 kilometres southwest of the Colina deposit.
These recent drilling and mapping results confirm the existence of a district-scale lithium corridor within Latin's tenements, extending up to 26 kilometres southwest of the Colina deposit.
“These are significant new discoveries by the Salinas exploration team, demonstrating our strong understanding of the regional controls to mineralisation within our district,” Latin Resources vice president of operations - Americas Tony Greenaway said.
Large lithium corridor
“These latest drilling intersections validate our regional interpretation of a large, mineralised pegmatite system potentially extending up to 26 kilometres to the southwest of our flagship Colina deposit and provide Latin with a very clear pathway for further resource expansion.
“While these early drill core observations are extremely encouraging, we are still waiting for assay results and need to fully evaluate this information within the context of all our drilling results to fully understand the larger regional system.
“We will continue to drill test these newly identified areas in parallel with the ongoing infill and systematic step-out drilling at Colina itself, with the aim of growing the existing 45-million-tonne resource base at Colina.”
Going forward, Latin Resources is planning to expand the Colina deposit, conduct metallurgical tests, progress the Preliminary Economic Assessment and continue exploration of regional targets within the lithium corridor.