Latin Resources Ltd (ASX:LRS) has welcomed multiple thick high-grade intersections from the Colina and Colina West areas at its Salinas Lithium Project in Brazil following diamond drilling wrapped up in late 2022.
These latest assay results confirm the company’s aspirations for the Colina West prospect, which it believes represents an exceptional resource growth opportunity.
Assay results for a total of 13 of these drill holes (SADD048 to SADD060), completed toward the end of the 2022 drilling campaign have been returned from the laboratory, with a further 10 outstanding.
Highlights
More than 67 metres of mineralised lithium pegmatites were intersected in one hole, SADD055, around 200 metres along strike to the south of the Colina West discovery hole.
Highlights from that hole include:
- 13.73 metres at 1.38% lithium (Li2O) from 200.19 metres;
- 16.08 metres at 1.07% Li2O from 306.69 metres;
- 10.85 metres at 1.96% Li2O from 322.15 metres;
- 11.16 metres at 1.61% Li2O from 360.17 metres; and
- 16 metres at 1.61% Li2O from 393.6 metres.
Other significant intersections include:
- 14 metres at 1.35% Li2O from 289.58 metres;
- 20.17 metres at 1.66% Li2O from 136.99 metres;
- 14.7 metres at 1.27% Li2O from 109.9 metres; and
- 15.96 metres at 1.56% Li2O from 350.09 metres.
The current six-rig, 65,000-metre diamond drilling program, which started in January, has its sights trained on the rapid growth of the existing Colina deposit, as well as the systematic resource definition drilling of the Colina West prospect to realise the company’s fully funded fast-track rapid resource growth strategy.
Outside resource estimate
In December last year, the company announced a maiden mineral resource estimate (MRE) for the Colina deposit of 13.3 million tonnes at 1.2% Li2O, along with a JORC exploration target range (ETR) for Colina of 13.5–22 million tonnes with a grade range of 1.2–1.5% Li2O, in early December 2022.
Neither of these two figures include the potential additional resources that may be defined in the Colina West area.
The MRE and ETR are based on assay results from a total of 47 diamond drill holes for some 10,528 metres of drilling, with an additional 25 holes completed at Colina and Colina West at the end of the 2022 drilling season, which were not included in the MRE and ETR calculations.
Latin Resources plans to deliver further resource upgrades in 2023.
"Exceptional" results
“These latest results from our 2022 drilling campaign are exceptional,” Latin Resources geology manager Tony Greenaway said.
“We have intersected over 67 cumulative metres of highly mineralised pegmatites in drill hole SADD055, which was collared approximately 200 metres to the south of the Colina West discovery hole SADD033.
“The Colina West area is shaping up to be a critical new discovery for the company. The thick high-grade mineralisation we have encountered here is on par with, or arguably better that the main Colina deposit.
“The potential scale of the Colina West discovery, highlighted by these latest results, means that this area is a major focus for our current 2023 drilling campaign.
“We believe, that with more drilling, Colina West has the potential to deliver significant tonnes to the overall resource base for the project.”
All mineralisation at Colina and Colina West remains open along strike to the north and south as well as at depth.