Latin Resources (ASX:LRS) has received all remaining assay results from the initial reverse circulation drilling program at its Ancasti Lithium Project located in Catamarca, Argentina.
A total of forty reverse circulation drill holes were completed for a total of 2,680 meters.
Significant grades of up to 4.6% lithium oxide and 622 ppm tantalum pentoxide were assayed at the La Culpable prospect within the project.
The prospectivity remains high at Catamarca with further exploration to be undertaken.
The next step is advanced exploration and drilling at the San Luis concessions, 450 kilometres away from the Ancasti Lithium Project.
Chris Gale, managing director, commented, “Latin Resources was very pleased with the initial drill program at our Catamarca project. The presence of high grade lithium is extremely encouraging.”
Drill result details
The aim of the drilling program was to provide initial geological information on four of the eleven historically mined pegmatites that make up the Ancasti Lithium Project.
Drilling at the prospects was as follows:
- Campo el Abra: 8 holes for 393 metres;
- Ipizca II: 5 holes for 372 metres;
- La Culpable: 5 holes for 369 metres;
- Reflejos del Mar: 13 holes for 986 metres; and
- Santa Gertrudis: 8 holes for 560 metres.
Highlights from the final assays include:
- 6 metres at 1.62% lithium oxide;
- 4 metres at 2.03% lithium oxide;
- 3 metres at 2.98% lithium oxide;
- 4 metres at 0.85% lithium oxide; and
- 5 metres at 0.89% lithium oxide.
Next steps
The next stage of exploration work will now take place at Latin’s concessions in the San Luis province, located 450 kilometres south of the Catamarca projects.
Initially detailed trenching, mapping and sampling will be carried out at the Maria del Huerto Project where at least three pegmatites exist in a potential open pit area.
One pegmatite has been the subject of previous mining and is well exposed with spodumene mineralisation evident.
Initial work by Latin will confirm that each of the pegmatites is prospective for lithium and or other minerals such as tantalum and niobium prior to commencing drilling at this target.
Analysis
Drill results from the initial program show potential for a collective of smaller, high grade deposits in near proximity of each other offering a viable and reliable source of lithium spodumene.
The infrastructure in the Ancasti province is excellent with the local community having shown to be supportive from the initial work on site.
Latin’s near term objective remains to achieve its maiden JORC resource and San Luis shows good potential for this as the pegmatites run hundreds of meters long.