Latin Resources Limited (ASX:LRS)(“Latin” or “the Company”) is pleased to confirm that diamond drilling will commence in early February on the Company’s Salinas Lithium Project in Brazil (“Salinas” or the “Project”), where the Company has defined multiple priority drill targets.


HIGHLIGHTS

  • Drilling permits approved on the Salinas Lithium Project, Brazil, with diamond drilling scheduled to commence in early February 2022.
  • Access roads and drill pad construction completed, with diamond drill rig scheduled to arrive on site the first week of February.
  • Geology and recent rock chip assay results define highly compelling drill targets.
  • Priority drill targets identified where sampling returned high‐grade results including 2.71% Li2O and 1.45% Li2O from spodumene bearing pegmatites, mapped over a strike length of over 1.2 kilometres.
  • The Bananal Valley is located within the Minas Gerais State – a rich mining region of Brazil, and home to the Grota do Cirilio Project under development by CAD1.3 billion market cap TSX‐V listed Sigma Lithium Corporation.

Salinas is located in the highly prospective Bananal Valley district of Minas Gerais Province of eastern Brazil (Figure 1). Minas Gerais hosts the Eastern Brazilian lithium pegmatite province, home to CAD1.3 billion market cap TSX‐V listed company ‐ Sigma Lithium Corporation (Figure 5).

The Company has planned a total of 14 diamond drillholes initially to test the outcropping high‐grade Li bearing pegmatites identified in previous mapping and geochemical sampling programs (Figure 2).

The drilling is designed to test two priority target areas where sampling has returned multiple high‐ grade results including 2.71% Li2O and 1.45% Li2Oi from highly weathered spodumene bearing pegmatites, mapped over a strike length of over 1.2 kilometres within the Company’s tenure.

The proposed drilling campaign will be the first drilling to test this highly anomalous and outcropping mineralised trend in a region that currently contains 100% of Brazil’s official lithium reserves.

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This article includes content from Latin Resources, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.

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