logo-loader

Latin Resources unearths thickest lithium intersection to-date with 21.1 metres at 1.20% from Salinas Project in Brazil

Last updated: 11:39 26 Apr 2022 AEST, First published: 11:28 26 Apr 2022 AEST

Latin Resources Ltd - Latin Resources unearths thickest lithium intersection to-date with 21.1 metres at 1.20% lithium from the Salinas Lithium Project in Brazil

Latin Resources Ltd (ASX:LRS) has demonstrated strong continuity of mineralisation at Bananal Valley Prospect of the Salinas Lithium Project in Brazil, returning solid lithium intersections from more than 600 metres of strike in a diamond drilling campaign.

The company recorded the broadest lithium intersection to date with this campaign, returning 21.1 metres at 1.20% lithium oxide from 208.80 metres of depth.

Mineralisation of this prospect remains open along strike and down dip, and has returned notable intercepts of:

  • 21.1 metres at 1.20% lithium from 208.8 metres, including 14.0 metres at 1.69% lithium from 210.90 metres and 3.00 metres at 2.28% lithium from 214.9 metres
  • 4.25 metres at 1.32% lithium from 125.4 metres, including 1.05 metres at 2.65% lithium from 127.55 metres, 4.01 metres at 1.36% lithium from 159.1 metres, and 1-metre at 1.92% lithium from 161.1 metres

Drilling has also begun at the new Monte Alto Prospect area, where Latin Resources will drill test the outcropping of lithium pegmatites for the first time.

Simultaneously, the company will begin a large 25,000-metre resource definition drilling campaign at the more advanced Bananal Valley Prospect, 4 kilometres to the west.

Fast-tracking resource estimate

“We continue to receive exceptional assay results from our Bananal Valley Prospect. This continues to get more encouraging every day,” Latin Resources managing director Chris Gale said.

“We are also very excited to be commencing drilling at our new Monte Alto Prospect. Our mapping and outcrop sampling in this area has shown us that we have thick, high-grade lithium pegmatites outcropping over a considerable strike extent.

“With multiple high-grade results up to 2.30% Li2O (lithium oxide) from initial surface sampling, the early signs are equal to or better than those returned at the same stage from our more advanced Bananal Valley Prospect.

“We are planning an initial 2,000 metres of drilling in two stages at Monte Alto and assay results should start flowing in May.

“With the company recently raising $35 million, we have now expedited the drilling program by commencing our 25,000-metre resource definition drilling campaign at Bananal Valley.

Read: Latin Resources raises $35 million to fast-track drilling program at Salinas

“With drilling now on multiple fronts, and more rigs on the way to site, we have really stepped up our pace in Brazil to fast track our pathway to an initial JORC mineral resource estimate.”

LRS intends to test the full 800 metres of strike length of the Bananal Valley Prospect with its resource definition campaign, exploring to a depth of 400 metres to discover the full extent of known lithium pegmatites at the site.

At Monte Alto, drilling will focus on outcropping spodumene bearing pegmatites, where initial sampling has returned high-grade lithium with multiple high-grade results up to 2.30% lithium oxide.

Alderan Resources acquires seven projects in Brazil’s Lithium Valley

Alderan Resources Limited (ASX: AL8) MD Scott Caithness speaks with Proactive following the news the company has entered into an agreement to purchase Parabolic Lithium Pty Ltd, which has the right to acquire a 100% interest in seven lithium exploration projects in the mineral resource rich...

on 26/9/23