Latin Resources Ltd (ASX:LRS, OTC:LRSRF) believes it may be sitting on a district-scale lithium operation with high potential for multiple economical lithium deposits after returning yet more high-grade lithium drilling results from an infill program at the Salinas Lithium Project in Brazil.
LRS targeted the Salinas Lithium Project’s Colina prospect as well as the Fog’s Block prospect, which sits about 12 kilometres southwest of Colina.
At Colina, the company observed results up to 18.12 metres at 1.67% lithium from 244.88 metres of depth and confirmed the presence of a new pegmatite discovery 3 kilometres southwest of the main deposit.
At Fog’s Block, Latin Resources confirmed previous observation of visual spodumene in drill core, returning results assaying at 13.06 metres at 1.34% lithium from 210.94 metres with a higher-grade component of 6.06 metres at 1.61% lithium from 210.94 metres.
“Extremely encouraging” results
“The visual drill core intersections of spodumene-rich pegmatite over three kilometres to the southwest of the Colina Deposit, within our interpreted mineralisation corridor; together with similar intersections at the Fog’s Block Prospect a further six kilometres along strike to southwest, is extremely encouraging,” Latin Resources vice president of operations – Americas Tony Greenaway said.
“We now have multiple confirmed spodumene pegmatite drill core intersections within the corridor, providing us with a high degree of confidence that this district scale system has the potential to host multiple deposits.
“We will continue to aggressively explore our highly prospective tenement package with the aim of growing our existing 45-million-tonne resource base; while in parallel, upgrading the Colina Deposit trough infill and extension drilling.”
Colina Deposit plan, showing general location of the Colina Deposit and Fog’s Block drilling programs.
Further resource upgrades to come
Latin says it is confident the Colina deposit’s mineral resource footprint will expand along strike to the southwest and expects to move further tonnage into the higher confidence categories of indicated and measured in future mineral resource estimate updates.
The company has mobilised a further three diamond drill rigs to that purpose – 11 now operate at Salinas – with the intent to accelerate LRS’ 65,000-metre drilling campaign with a focus on infill drilling, targeted metallurgical drilling, expansion of the Colina deposit and testing of regional targets.
Results of note from LRS’ most recent round of drilling at Colina include:
- 9.94 metres at 1.50% lithium from 328.91 metres;
- 10.46 metres at 1.29% lithium from 160.04 metres;
- 18.12 metres at 1.67% lithium from 244.88 metres;
- 11.74 metres at 1.40% lithium from 76.26 metres; and,
- 10.13 metres at 1.63% lithium from 49.62 metres.
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