It’s Samba time! Latin Resources finds ‘district scale’ lithium corridor at Salinas
Latin Resources says it’s got a “district scale” lithium corridor on its hands at Salinas after recon drilling southwest of its 45Mt Colina deposit kept hitting pegmatites.
Multiple spodumene pegmatites were intersected in reconnaissance diamond drilling – part of a 4,000m campaign – along strike southwest of its Colina pegmatite system, making a significant extension.
Three out of four holes completed to date struck shallow east dipping, course grained spodumene-rich pegmatites, with visual observations identifying 32.69m of mineralisation in the first hole drilled.
Latin Resources (ASX:LRS) says it has now confirmed the presence of a “district scale” lithium corridor extending up to a whopping 26km.
Drilling along strike from Colina is ongoing, as are regional diamond drilling programs at both the southwest geophysical target and at its Fog’s Block tenement.
LRS VP Tony Greenaway said his team said the significant new discoveries by the Salinas exploration team demonstrates their strong understanding of the regional controls to mineralisation within the district.
“The latest drilling intersections validate our regional interpretation of a large, mineralised pegmatite system potentially extending up to 26km to the southwest of our flagship Colina deposit and provides Latin with a very clear pathway for further resource expansion,” Greenaway said.
“While these early drill core observations are extremely encouraging, we are still waiting for assay results and need to fully evaluate this information within the context of all our drilling results to fully understand the larger regional system.
“We will continue to drill test these newly identified areas in parallel with the ongoing infill and systematic step-out drilling at Colina itself, with the aim of growing the existing 45 Mt resource base at Colina.”
Salinas, in Brazil’s emerging and lucrative Minas Gerais mining district, has a defined MRE of 45.2Mt @ 1.32% Li2O, above a 0.5% cut-off grade and believes it has a Tier 1 lithium asset on its hands.
Assay results are expected in about four weeks’ time.
This article was developed in collaboration with Latin Resources, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.