Latin Resources Ltd (ASX:LRS) has delivered its latest assay results from drilling at the Salinas Lithium Project in Brazil.
The results continue to confirm high-grade lithium with a peak grade of 2.0m @ 3.07% Li2O returned in hole SADD004 and give LRS the confidence to fast track systematic mineral resource definition drilling of what it feels may be a significant lithium occurrence.
Notably, all results remain open along strike and down dip: assay results continue to show consistent down hole and down dip grade profiles, which is now demonstrated across the first two wide spaced drill sections.
Highlights include:
SADD004: 17.38m @ 1.46% Li2O from 119.80m
- including 10.20m @ 2.05% Li2O from 120.95m
- including: 3.05m @ 2.26% Li2O from 120.95m and
- 2.00m @ 3.07% Li2O from 127.00m
SADD003: 17.05m @ 0.95% Li2O from 65.65m
- including 4.00m @ 1.96% Li2O from 69.65m and: 5.15m @ 1.31% Li2O from 98.35m
- including: 1.90m @ 2.13% Li2O from 98.35m
Selected significant lithium (>0.4% Li2O) pegmatite intersections from Salinas Lithium Project diamond drilling.
Initial observations confirmed
“These new assay results from the latest two holes drilled in the South Target Area of the Salinas Lithium Project, are once again extremely pleasing. We have now confirmed our initial observations that the logged lithium bearing pegmatites are increasing in thickness as we move south, while maintaining the very high grades seen in the first two holes,” Latin Resources’ Managing Director, Chris Gale said.
“We are also very excited to have intersected fresh spodumene in hole SADD0011, which is quite a way out to the north of our previous drilling in what appears to in fact be a continuation of the mineralised system. This new evidence of extension in strike length of the spodumene pegmatites coupled with the confirmation of continuing high grades in our early drilling, further enhances our belief that we are on the verge of what could be a major new discovery. We have now confirmed spodumene bearing pegmatites over a continuous strike length approaching one kilometre.
“As we announced last week, we have expanded out tenement holding in the area to cover another known high-grade lithium outcropping pegmatite. This new area will become our second frontline in the area, as we move to fast-track mineral resource definition with infill and step-out drilling at our initial prospect; and in parallel commence drilling on our new Monte Alto prospect to the east.
“With more assay results to come from holes SADD005 and SADD006, the strong evidence of a northern extension of the spodumene pegmatite system, and the commencement of drilling on a second working front at Monte Alto, it is an extremely exciting time for the company. Expect more to come over the next few weeks.”
Read: Latin Resources expands land package with new tenement as it gets set to fast track drilling
Results in more detail
Results received from sampling of diamond drill holes SADD003 and SADD004, have confirmed previously reported observations from drill core logging, with a close correlation to the estimated spodumene abundances. Grade correlations down hole and between the two main lithium bearing pegmatites continue to demonstrate continuity of the mineralisation along strike and down dip, with the emerging pegmatite swarm remaining open in all directions.
Bananal Valley “Southern Target Area” drill Collar plan showing significant intersections received to date.
Further to this, drilling of the first hole into a central target between the south and extreme north targets SADD011, has confirmed a very possible continuation with the spodumene bearing pegmatite system of the south target. While the intersected pegmatites in this northern area are thinner than these intersected in the south, significant spodumene has been logged.
Additional holes planned
LRS is planning additional holes to test this central zone between holes SADD001/SADD002 and SADD011, as a part of the proposed detailed infill and extension resource definition drilling program designed to fast track the project’s maiden JORC mineral resource.