Investing News NetworkAUSTRALIA
Latin Resources Limited (ASX: LRS) (“Latin” or “the Company”) is pleased to provide the following update on resource definition drilling and other studies currently ongoing at the Company’s 100% owned high‐grade Colina Lithium Prospect (“Colina”) (Appendix 1 and Figure 1).
HIGHLIGHTS
- Resource definition diamond drilling at Colina progressing well, approximately one quarter of planned 100 drill holes completed, total of approximately 5,890m.
- The program continues to ramp up to accelerate the maiden resource estimate, with a fourth diamond drill rig on site and drilling.
- Latest assay results continue to show strong down dip continuity of both grade and thickness of the logged pegmatites, peak grade of 4.22% lithium. Results include:
SADD017: 8.87m @ 1.09% Li2O from 137.00m
Inc: 1.00m @ 2.02% Li2O from 137.00m
13.86m @ 1.33% Li2O from 173.29m
Inc: 7.00m @ 1.93% Li2O from 178.00m
SADD018: 9.16m @ 1.68% Li2O from 133.84m
Inc: 6.00m @ 2.16% Li2O from 135.0m
Inc: 1.00m @ 3.52% Li2O from 137.00m
16.00m @ 1.29% Li2O from 189.00m
Inc: 1.00m @ 3.06% Li2O from 190.00m
and: 1.00m @ 4.22% Li2O from 196.00m
SADD019: 11.96m @ 1.64% Li2O from 206.24m
Inc: 8.20m @ 1.82% Li2O from 210.00m
SADD020: 2.35m @ 3.57% Li2O from 120.33m
7.58m @ 1.45% Li2O from 143.77m
Inc: 1.60m @ 2.45% Li2O from 144.40m
- Regional mapping teams recommenced field work in the area immediately to the west of Colina targeting a parallel pegmatite system; and further to the south‐east at the Salinas South tenement area, where previous work identified a ‘lithium corridor’ over a distance of 4.0km.
Latin Resources’ Exploration Manager, Tony Greenaway, commented:
“We are very pleased with the progress being made on site in Brazil, with activity on multiple fronts including the systematic resource definition diamond drilling, and our latest results continuing to show excellent high‐grade lithium intersections and continuity of the pegmatites along strike and down dip.
“We now have our fourth drill rig operational on site, so we are up and running at full speed. We have a first‐class drilling crew on site, who are maintaining high drilling production rates, and more importantly, excellent core quality coming out of the ground. With around one quarter of the holes now completed, we are well on track to deliver our maiden JORC Resource Estimate by the end of CY22.
“I am also pleased to have our regional teams out mapping to the west of Colina and at Salinas South where we know we have more outcropping pegmatites. Our plan is to work‐up these areas to drill‐ ready status, and then in the near term commence drilling to begin testing these new areas.”
Figure 1: Colina Prospect area showing completed drill collars1 and significant intersections received to date
Colina Prospect – Resource Definition Drilling
Latest assay results from diamond drilling at the Company’s 100% owned Colina Prospect, part of the broader Salinas Lithium Project in Brazil, continue to confirm the continuity of grade and thickness of the high‐grade Colina pegmatites at depth.
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