Join our daily newsletter At The Bell to receive exclusive market insights
- Latin Resources (LRS) identifies a new pegmatite zone at its Colina prospect within its Salina lithium project in Brazil
- The latest results come from the company’s diamond drilling campaign and include a 7.4 metre intersection of pegmatite with an estimated 15-20 per cent spodumene
- Latin Resources’ Exploration Manager Tony Greenaway says the new discovery has highlighted the upside at Colina
- Metallurgical testwork is underway which feeds into LRS’ plan to fast-track exploration activities to a maiden JORC mineral resource
- Company shares are trading up 6.06 per cent at seven cents at 10:51 am AEST
Latin Resources (LRS) has identified a new pegmatite zone at its Colina prospect within its Salina lithium project in Brazil.
The company has been undertaking a diamond drilling campaign across the prospect which has confirmed the presence of additional wide, spodumene-bearing pegmatites below previously reported intersections.
While assays are pending, drill hole SADD020 intersected 7.4 metres of pegmatite with an estimated 15-20 per cent spodumene.
It follows on from the company’s best intersection to date from drill hole SADD016 which returned 25.2 metres at 1.2 per cent lithium from 94.1 metres.
Latin Resources’ Exploration Manager Tony Greenaway said the new discovery has highlighted the upside at Colina.
“We know we have additional pegmatites to test further out to the west of Colina, and now we have proven the potential for additional stacked pegmatites at depth,” he said.
“The more we drill at Colina, the better this prospect seems to get.”
Following the latest round of results, LRS plans to push its drilling efforts below its previous target to fully evaluate the new zone.
The company has also begun dense media separation (DMS) metallurgical test work on the drill core to gain preliminary recovery and potential lithium concentrate grades.
As part of Latin Resources’ strategy to fast-track exploration activities to a maiden JORC mineral resource, a more detailed metallurgical test work program will follow.
Company shares were trading up 6.06 per cent at seven cents at 10:51 am AEST.
