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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 defined multiple drill targets and submitted drill permits to commence drilling. The Company has also secured two new highly prospective tenements to grow its footprint at the project area (Figure 1) with known outcropping high-grade lithium spodumene bearing pegmatites.
- Latin Resources has secured two new lithium tenements, contiguous with its existing position, in the highly prospective Bananal Valley district in easternBrazil.
- Latins' lithium ground position, now expanded to 5,338 hectares, with multiple drill targets defined in the lithium corridor.
- The Bananal Valley is within the Minas Gerais State – a rich mining region of Brazil, and home to the Grota do Cirilio Project under development by TSX-V listed Sigma Lithium Corporation.
- Drilling permits lodged with drilling to commence February2022.
- Geology and recent 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 1.2kilometres.
Salinas is located in the highly prospective Jequitinhonha Valley district of Minas Gerais Province 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 Brasilia de Lítio (CBL).
Latin has secured an exclusive and binding 12-month option over two new concessions in the Bananal Valley 830.219/2017 & 831.799/2005, whereby Latin may acquire a 100% interest in these tenements contiguous with the Company's existing Bananal Valley Project. These two new tenements now position Latin with a very large land package of over 5,338 hectares in the newly defined Salinas lithium corridor.
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.