Latin Resources’ Brazilian battery metal quest has taken a vital step forward after the first batch of assay results from diamond drilling at its Salinas project confirmed its potential to host a new high-grade lithium discovery.
According to the company, the campaign unveiled a suite of lithium-rich pegmatites with a peak grade of 3.22 per cent lithium oxide notched in one hole.
Some of the other key intersections include a 4.31 metre hit going 2.22 per cent lithium oxide from 83.82m with a higher grade 1.13m section running 2.85 per cent lithium oxide from 87m.
A longer 8.13m strike took in a grade of 2 per cent lithium oxide from 111.3m and housed the headlining 1m section grading 3.22 per cent lithium oxide from 112.3m
Latin says the results indicate the down-hole grade profiles from the latest exploration are consistent with a strong grade correlation down dip between the individual pegmatites.
Logging at the project to-date has outlined a consistent package of separate individual pegmatites across a 500m strike length that importantly, remains open.
The explorer remarks the results of the first two holes drilled at the project’s southern target area are “extremely pleasing” and have confirmed intersected pegmatites showing significant high-grade lithium.
The data has reinforced the company’s belief it is on the cusp of a potentially significant new lithium discovery in one of the world’s best mining jurisdictions.
Latin says lithium grades above 2 per cent are a rarity, with most operations in Australia producing around 1-1.5 per cent lithium, adding its grades that run between from 2-3 per cent lithium oxide, bode well for the project’s prospects.
The company is now waiting on assay results for four additional holes plunged along strike to the south, where it is expecting thicker pegmatites to be intersected.
The next phase of work sees Latin shifting its attention back to its southern target area, where it will launch an infill and step-out drilling campaign, homing in on the open pegmatites.
The Bananal Valley and Salinas South projects in Brazil make up Latin’s lithium portfolio in the country. Both are in the Jequitinhonha Valley, close to the regional capital of Salinas, and cover the only lithium-bearing ground in Brazil.
Latin appears to be off to a flyer at its Brazilian lithium probe and with more promising targets still to come and the prospect of a major new lithium discovery on the cards, the company’s first blood at Salinas may start to turn a few heads.
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