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Latin Resources Limited (ASX: LRS) ("Latin" or "the Company") is pleased to provide an update of recent and ongoing activities at the Company's Salinas Lithium Project in Brazil ("Salinas" or the "Project"), where the Company has re-signed a highly prospective tenement (Figure 1) with known outcropping high-grade lithium spodumene bearing pegmatites.
- Initial outcrop sampling and mapping has confirmed the presence of spodumene bearing pegmatites within the new tenements, with two samples returning high grades of 2.71% Li2O and 1.45% Li2O respectively.
- Latin Resources has extended a lithium tenement contiguous with its existing tenement in the highly prospective Bananal valley district in eastern Brazil.
- Initial results from regional reconnaissance stream sediment sampling of the Salinas South Project to the Southwest has highlighted an anomalous lithium corridor extending across the Project.
- Geology and sampling teams are now back on the ground completing follow-up and infill sampling of the high-grade NE target area.
The Salinas Project is located in the highly prospective Jequitinhonha Valley district of Minas Gerais Provence of eastern Brazil (Appendix 1). Minas Gerais hosts the Eastern Brazilian lithium pegmatite province, home to TSX-V listed Sigma Lithium Corporation and lithium producer Companhia Brasileira de Lítio (CBL).
Latin has re-signed and extended an exclusive 2-year Option on the Bananal 830.691 tenement agreement, whereby Latin may acquire a 100% interest in the tenement contiguous with the Company's existing Bananal Valley Project.
Initial reconnaissance mapping completed over the tenement has confirmed the presence of a series of parallel spodumene bearing pegmatites over a strike of greater than one kilometre (Figure 2). A series of outcrop samples have been collected (Figure 3 & Figure 4) and submitted to the laboratory for analysis. Results have confirmed that the mapped pegmatites contain lithium bearing spodumene with one sample returning a grade of 2.71% Li2O from highly weathered outcrop, and several others returning anomalous Lithium grades.
These initial results represent a significant anomaly in an area of highly weathered outcrop. Lithium, being a highly volatile element is rapidly leached when exposed, therefore lowering Li grades in weathered material. As such, visual identification of remnant spodumene in outcrop, which is often pseudo-morphed by micaceous minerals containing no lithium, is highly encouraging in itself.
As such Latin considers these results, including two adjacent samples returning grades of 2.71% Li2O and 1.45% Li2O respectively, to represent an extremely high priority area for the Company. Full results and sample locations are provided in Appendix 2: Table 1 & Table 2.
Figure 1: Salinas Lithium project location Minas Gerais District, Brazil
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