Latin to grow world class Salinas lithium project further with resource due at high-grade Planalto

High-grade hits of up to ~2.5% Li2O have shown the immense potential of Latin’s Planalto lithium discovery in Brazil
Latin expects to post a resource this quarter
Located 1,500m southwest of the 70Mt at 1.25% Li2O Colina resource, the shallow find will certify the project’s world class credentials

Special Report: Latin Resources already boasts one of the largest world-class deposits in Minas Gerais’ famous Lithium Valley province in Brazil, but it’s set to get even bigger with a resource estimate for the high-grade Planalto discovery expected this quarter.

Latin Resources (ASX:LRS) struck incredible intercepts at Planalto including 16.05m at 2.18% Li2O from 293.29m in hole SADD320. That thick, juicy hit contained a couple sweeteners like 9.22m at 2.54% Li2O from 293.29m and 3.59m at 2.52% Li2O from 305.14m.

Additional diamond drilling is being focused on testing up-plunge extensions from the emerging priority target area at Planalto, with high-grade zones remaining open along strike in both directions and interpreted to extend closer to surface.

Planalto is located 1,500m to the south-east of Colina, a top-tier deposit containing 70.9Mt at 1.25% Li2O with a JORC measured and indicated resource of 67.27Mt at 1.27% Li2O.

Part of the broader Salinas project, it positions Latin to be the next major producer in Minas Gerais after first mover, multi-billion-dollar-capped TSX-listed Sigma Lithium, which last year opened its Grota Do Cirilo spodumene mine.

Latin, Resources, ASX, LRS, Planalto, Brazil, Resources, Grade, Lithium — LRS is the next cab off the rank for global scale Brazilian lithium production. Pic: LRS

High grade hits

Let’s check out those hits in all their glory for just a second:

SADD320: 16.05m at 2.18% Li2O from 293.29m, including
- 9.22m at 2.54% Li2O from 293.29m and 3.59m at 2.52% Li2O from 305.14m
SADD322: 13.83m at 1.09% Li2O from 293.17m
SADD323: 6.22m at 1.83% Li2O from 230.38m
SADD311: 5.41m at 1.96% Li2O from 280.00m
SADD308: 12.59m at 1.65% Li2O from 260.41m, including
- 5.79m at 2.29% Li2O from 260.41m
SADD306: 4.25m at 2.57% Li2O from 298.01m; and
SADD305: 6.63m at 1.86% Li2O from 401.37m.

That comes off the back of discovery hole SADD23, which tested a blind geophysical anomaly and intersected a stacked pegmatite system containing a cumulative 45m of coarse grained, spodumene rich pegmatites.

The new hits have exceeded those discovery strikes for grade and matched them for width, with mineralisation starting far closer to surface.

“The Planalto Prospect shows very similar mineralisation characteristics to our world-class tier one Colina Deposit,” Latin vice president of operations – Americas Tony Greenaway said.

“While the stacked pegmatite lenses at Planalto show a shallower dip to those at Colina, the coarse grained Spodumene only mineralisation is consistent with what we see at Colina.

“The latest drilling has highlighted an up-dip trend to the high-grade core of mineralisation which will now become the focus of additional drilling.

“We have scheduled an initial MRE for Planalto in this current September quarter of 2024, which will be based on all of the available drilling and will commence as soon as we have received all of the outstanding assay results from the laboratory.”

The mineralised system at Planalto has now been extended over an area of 1,300m by 700m, with a tantalising gap between it and Colina still open to be tested by LRS.