Latin Resources has moved to consolidate its position in Brazil, snapping up another highly prospective 1.2km lithium play in earshot of its previously defined Colina prospect. The company says the acquisition doubles its southern strike length to more than 2km into an area where the region’s high-grade pegmatites are interpreted to continue under a blanket of shallow cover.
Perth-based Latin says the strike extensions will be drill-tested as part of a rolling 25,000m resource definition campaign.
Importantly, the newly gained tenure is immediately south of Colina’s strike extensions, where drilling continues to deliver broad spodumene-rich intersections.
Recent drilling at Colina’s southernmost hole delivered a 21.1m wide intersection going a notable 1.2 per cent lithium oxide — perhaps a sign of things to come as the company looks to probe its newly acquired ground.
Latin’s acquisition comes on the back of the company mobilising samples from a recent drilling campaign at Colina to an assay laboratory in Brazil, ahead of preliminary metallurgical test work on the zone’s pegmatites.
The planned work includes dense media separation and floatation test work to establish the operation’s potential lithium recovery metrics along with comprehensive mineralogical and petrological evaluations to validate the secondary minerals present in the Colina pegmatites.
We are very pleased to be able to secure this additional ground to the south of our Colina Prospect, where drilling shows that our high-grade pegmatites are open and continue to the south in this direction.
Our resource definition drilling is progressing well and is on schedule to meet our fast-tracked timeline. We have additional drilling rigs on site now and have expanded our geological team on site to keep pace with the increase in activity.
Ongoing work at the company’s Colina prospect, part its larger Bananal Valley lithium project, continues to emphasise the operation’s potential scale, with recent logging verifying the down-dip continuation and expansion of a set of previously outlined lithium pegmatites.
Management considers Colina a key piece in its battery metals puzzle, with the prospect thought to host a significant new discovery. Earlier exploration in the area tossed up a suite of remarkable results, with a rock chip bagged in the zone delivering a respectable lithium grade of 3.22 per cent lithium oxide.
Latin’s recent work also follows a two-hole probe at Colina that led to the discovery of a suite of broad pegmatite intersections that ran over 20m wide.
Importantly, the pegmatites were laden with elongated spodumene crystals, a component that can have a lithium oxide content of more than 8 per cent, well above the traditional 1-2 grades often found in hard rock lithium deposits.
The company’s Brazilian lithium tenure takes in two key assets: the Bananal Valley and Salinas South projects. Interestingly, both are in the Jequitinhonha Valley, an area that hosts the country’s only known lithium operation — Sigma Lithium’s Grota do Cirilio project.
Sigma expects to punch out an end product with an average grade of about 1.48 per cent lithium oxide at Grota do Cirilio.
Despite prices of lithium carbonate – a battery grade form of the mineral – cooling slightly in recent times, demand for the commodity is arguably set to rise long-term because of its ongoing use in the electric vehicle revolution. If demand continues, projects such as Latin’s could well be at the tip of the spear.
Is your ASX-listed company doing something interesting? Contact: email@example.com