Latin Resources Ltd (ASX:LRS) is set to take a major step forward at its Salinas Lithium Project in the lithium-rich Minas Gerais Province of Brazil with diamond drilling of highly compelling drill targets to start next month.
The company’s drilling is designed to test two priority target areas where sampling has returned multiple high-grade results including 2.71% lithium oxide and 1.45% lithium oxide from highly weathered spodumene-bearing pegmatites, mapped over a strike length of over 1.2 kilometres within the company’s tenure.
Looking ahead, access roads and drill pad construction is completed, with the diamond drill rig scheduled to arrive on-site the first week of February.
“Multiple high priority targets”
Latin Resources managing director Chris Gale said: “Latin is very excited to be finally drilling our Brazil lithium projects.
“It has been a long time coming due to the COVID pandemic, however, our team in Brazil has got the project back on track.
“We are confident the testing of multiple high priority targets at Salinas will deliver positive news over the next few months.”
Drill targets
The proposed drilling campaign will be the first drilling to test this highly anomalous and outcropping mineralised trend in a region that contains 100% of Brazil’s official lithium reserves.
The company has planned a total of 14 diamond drill holes initially to test the outcropping high‐grade lithium-bearing pegmatites identified in previous mapping and geochemical sampling programs.
Notably, the company’s geology and recent rock chip assays define highly compelling drill targets.
The Bananal Valley is within the Minas Gerais State – a rich mining region of Brazil and home to the Grota do Cirilio Project under development by C$1.3 billion market cap TSX‐V listed Sigma Lithium Corporation.
Exploration highlights
The initial exploration program carried out by Latin Resources in 2019 showed numerous pegmatites were hosted in schist and displayed homogenous spodumene mineralisation.
Further work carried out in 2021 on the pegmatites by the company determined their relationship to the main Salinas pegmatite, showing spodumene mineralisation with potential for a continuous pegmatite structure below the surface.
In summary, the exploration highlighted:
- Numerous pegmatites are hosted in schist zones and show homogenous spodumene mineralisation;
- The largest exposure of pegmatite visited on the tenement displays 12m of outcrop width;
- Weathered spodumene crystals in pegmatite outcropping in drainage; and
- Discovery of new pegmatite occurrences showed consistent spodumene mineralisation.