Latin Resources has good reasons to be confident that a significant upgrade to resources at its Colina lithium deposit is on the cards when it unveils its updated estimate in June.
And it is not hard to see why with the latest assays of 18.21m grading 1.9% Li2O from 212.72m and 16.12m at 1.55% Li2O from 302.69m in hole SADD089 and 15.42m at 1.48% Li2O from 288.64m and 12.65m at 1.44% Li2O from 327.04m in hole SADD088 continuing to show that continuous high-grade pegmatites persist to the southwest.
With the inclusion of these holes, Latin Resources (ASX:LRS) has now drilled 126 holes totalling 36,130m that have – no doubt to the company’s delight – only proven that the extensive pegmatite system at the Colina deposit remains open in all directions.
The company is also confident that the full fleet of eight diamond rigs operating on site will allow it to complete all of the planned in-fill and extension drilling on time for the cut-off date for the data needed for the upcoming resource estimate update.
‘Thick, high-grade deposits’
“We are very impressed with the consistent thick high-grade intercepts at Colina. These new results bode very well for our resource upgrade in June,” vice president of operations – North America Tony Greenaway said.
“With our resource definition drilling program well on track for the planned mid-May cut-off for the Colina resource update, we are now looking at our next phase of work.
“This will include drilling a series of large PQ diameter holes for our detailed metallurgical test work program, testing some of our regional tenements including Salinas South, testing several new high-priority target areas directly adjacent along strike to the southwest of Colina, as well as resource infill drilling at Colina itself.
“This work will be on-going throughout 2023, with the rigs spinning at full speed through until mid-December, in parallel with our detailed feasibility study work for Colina.”
Drill results and resource estimate process
Latin noted that besides highlighting the consistency of the high-grade pegmatite swarm at Colina, the latest assay results also indicate an apparent flattening in the dip of the pegmatites to the southwest.
Additionally, the cumulative pegmatite thickness in drillholes to the southwest continue to show a significant increase in the abundance of pegmatite in this region.
The company has also been working with SGS Geological Services to undertake the resource update and has developed resource wireframes extending the existing 13.3 Mt Colina block model at depth as well as enveloping the extensive new pegmatites encountered to the west and southwest.
Salinas project
Colina is part of the Salinas project in Brazil’s Minas Gerais state that has already secured support from Invest Minas – a collaboration between Minas Gerais State Economic Development Department (SEDE) and the Minas Gerais Integrated Development Institute (INDI), which will facilitate approvals, assist with securing additional land tenure, connecting suppliers to support the company’s activities and promoting its work.
drilling has also confirmed that multiple thick, high-grade pegmatites are present at the Colina West deposit, proving that Colina and Colina West are part of one large pegmatite swarm. Given the continuity, the Company is now referring to both prospects simply as the Colina Deposit.
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.
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