Latin Resources has recorded a swag of impressive new results from expansion drilling at the Colina deposit that forms part of its Salinas lithium project in Brazil, with a resource upgrade set for next month.
The company’s latest results show a peak intercept at Colina of 13.56m reading 2.03 per cent lithium oxide from just 98.44m, with a maximum width of 26.85m going 1.39 per cent lithium oxide from 260.75m. Other headline results include a 15.7m hit at 1.59 per cent lithium oxide from 206.09m, 20.74m grading 1.42 per cent lithium oxide from 335.45m and 17m going 1.55 per cent lithium oxide from 139m.
Latin has also delivered positive assays from its campaign at Fog’s Block, about 12km south-west of Colina, with peak results of 17.52m at 1.48 per cent lithium oxide from 250.58m and 12.6m grading 1.15 per cent lithium oxide from 173.4m.
Since the company’s previous mineral resource release in June, an additional 53 holes for 23,617m have been drilled at Colina, while it has also now completed a total of 13 holes for 4575.7m of drilling at Fog’s Block.
Earlier this year, management revealed a massive 241 per cent increase to the Colina mineral resource up to 45.2 million tonnes at 1.34 per cent lithium oxide, representing a lithium carbonate equivalent of 1.477 million tonnes. The June upgrade at Latin’s 38,000-hectare, 100 per cent-owned Brazilian project was based on 135 holes for 39,033m of drill core, with the previous December 2022 maiden resource based on 47 holes for 10,528m of drill core.
The company says it has moved its focus to infill drilling within the new resource footprint. with the aim of increasing the resource classification to enable the declaration of mining reserves as a part of the definitive feasibility study (DFS) process.
We continue to see solid results coming out of our drilling at Colina. This latest update represents a solid 5 months of drilling which was focused on extending the Colina Deposit to the south-west along the Salinas Lithium Corridor, as well as infilling parts of the existing resource model. Latin Resources vice president of operations (Americas) Tony Greenaway
Recent drilling at the Colina and Colina South West deposits continues to expand the lithium footprint where, according to management, consistently high-grade mineralisation intersected in infill and extensional drilling has boosted its confidence in its ability to build on the already sizable resource by year’s end.
The regional scout campaign forms part of Latin’s ongoing 65,000m program, with 10 diamond rigs currently operating at the site. The company already has plans for further exploration drilling early next year at the recently-discovered Planalto target and it will focus on delineating the new prospect, enabling a maiden mineral resource at its Fog’s Block deposit and expanding the current Colina resource.
The latest visual results from the Planalto target show about 45m of cumulative spodumene from a scouting campaign aimed at identifying new discoveries at Salinas.
With 10 rigs operating at the project and the current infill and extensional campaign not looking like slowing down any time soon, Latin could be looking at another significant boost to its resource at Colina when the data is tabled next month.
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