Latin Resources Ltd (ASX:LRS, OTC:LRSRF) continues to grow its district-scale resource towards a tier-1 lithium deposit at the Colina Deposit within its 100%-owned Salinas Lithium Project in Brazil.
The company's step-out drilling immediately to the southwest of Colina has discovered a new pegmatite cluster, adding significant strike extensions to the already considerable mineral resource footprint at Colina.
Latin has also received assays for a further 19 diamond drill holes from the Colina Deposit, with high-grade results continuing at the Colina Southwest Extension, Colina Infill and Fog’s Block.
The mineral resource estimate for the Colina deposit now stands at 45.2 million tonnes grading 1.34% lithium oxide, including 30.2 million tonnes at 1.4% lithium oxide in the measured and indicated categories and 15 million tonnes at 1.2% in the inferred category.
As the company continues to increase the Colina deposit footprint, its high-grade assay results will be incorporated into an updated Colina JORC mineral resource estimate that’s expected to be released in the current quarter.
Latin will increase the current 65,000-metre drill program with the company committed to the continued operation of 10-diamond drill rigs beyond 2023 at Colina deposit and Fog’s Block, expanding the program through the entirety of 2024.
The company expects the global resource estimate to expand significantly by implementing the additional drilling.
Potential fourth mineralisation system
Latin Resources vice president of operations - Americas Tony Greenaway said, “Our ongoing brownfields extension drilling at Colina and region greenfield exploration drilling continues to discover new pegmatites within the Salinas Lithium Project.
“Step-out drilling immediately to the southwest of Colina has added significant strike extensions to the already considerable mineral resource footprint at Colina, and we expect that these will be incorporated into an updated resource estimate before the end of this year.
“In addition to this, our step-out drilling further to the southwest has intersected what we believe may be a third pegmatite cluster. While it is early days, and more drilling is required to better define this developing pegmatite, we are extremely encouraged by this new discovery as it solidifies our interpretation that the Colina deposit is just one part of a much larger system.
“Our regional exploration drilling at the Fogs Block tenement located 12 kilometres to the southwest of Colina, further enhances this wider regional interpretation, with new drilling now defining this high-grade lithium pegmatite over a strike of 500 metres and a down dip extent of 150 metres.
“This pegmatite remains open both at depth and along strike where it has been mapped continuing into the company’s adjacent tenure and highlighted by strong coincident lithium in soil anomalies.
“Our understanding of the regional potential of the Salinas Lithium Project grows with every new discovery we make, with now three well-defined mineralisation systems and Colina, Colina Southwest and Fog’s Block, with potentially a fourth now emerging.”
Significant assay results
Colina Southwest Extension
Significant assay results from the Colina Southwest Extension include 14.7 metres at 1.48% lithium oxide from 157.6 metres; 13.8 metres at 1.69% from 204.5 metres; 8.8 metres at 1.84% from 242 metres; and 11.2 metres at 1.15% from 132.5 metres.
Colina Infill
Significant assay results from Colina Infill include 19 metres at 1.73% lithium oxide from 293 metres; 7.7 metres at 1.34% from 70.3 metres; and 14 metres at 1.34% from 237.8 metres.
Fog’s Block
Significant assay results from Fog’s Block include 8.5 metres at 1.33% lithium oxide from 155.1 metres, including 3.8 metres at 1.76% from 159 metres; and 8 metres at 1.08% from 230.4 metres.
Regional soil sampling and mapping at the new Fog’s East tenement has revealed more outcropping spodumene-rich pegmatites with coincident lithium-in-soil anomalies. Initial drill testing is scheduled for this month.