Latin Resources Ltd (ASX:LRS, OTC:LRSRF) managing director Chris Gale speaks with Proactive’s Elisha Newell after the company enhanced its Salinas Lithium Project in Brazil via a mineral resource update (MRE). The revised estimate, which significantly increases both the overall resource and the JORC confidence levels at the lithium play, stands at 77.7 million tonnes of ore at 1.24% Li2O, reflecting an 11% increase from the previous estimate. Notably, 95%, or 67.27 million tonnes of the cornerstone Colina deposit’s resource, is now classified in the higher confidence measured and indicated categories. The update precedes a definitive feasibility study for Salinas, which is set for release next quarter and expected to positively impact project economics by enhancing cash flow and extending mine life. Latin’s Colina deposit, with an overall resource of 70.9 million tonnes at 1.25% Li2O, ranks among the largest-scale, tier-one undeveloped lithium deposits globally. In light of the resource, Gale praised the exploration team's work in achieving this uplift in MRE tonnage and confidence, reinforcing the project's status as a globally significant lithium deposit. The updated MRE includes a measured resource of 28.64 million tonnes at 1.31% Li2O, an indicated resource of 38.63 million tonnes at 1.23% Li2O, and an inferred resource of 3.6 million tonnes at 1.10% Li2O. The company is continuing offtake discussions with several credible parties to secure low-cost funding and further progress the project.
Latin Resources strengthens Salinas project with upsized lithium estimate
