Latin Resources has delivered a string of promising intercepts from a 100-hole drilling blitz at its newly minted Colina lithium prospect in Brazil, including 4.35m returning 1.76 per cent lithium oxide from only 36.75m with an internal high-grade core of 3.3m grading at 2.08 per cent lithium oxide.
Other key intersections from Latin’s battery-metals hunt include 4.23m hit going 1.52 per cent lithium oxide from 64.8m with a higher grade 2.1m section running 2.27 per cent lithium oxide from the same depth. A further 4.55m averaging 0.98 per cent lithium oxide from 97.95m was also intersected in the same hole.
Interestingly, Latin notes that whilst the pegmatites appear to narrow out along strike to the north, the pegmatite stack appears to be increasing in thickness in the south. Up to 20 per cent spodumene has been visually estimated over widths of 14m from the last two diamond drill holes extending the strike of known lithium mineralisation to over 1km.
Spodumene is seen as an important source of lithium and is known to host high-grade concentrations of up to 8 per cent lithium oxide.
Diamond drilling continues to test the southern-strike extent of the high-grade pegmatites to depths of 400m, along with infilling known mineralised intercepts on a closer drill spacing. Results from the drilling will be fed into the company’s maiden JORC resource at Colina, slated for later this year.
The more we drill at Colina the more confident we are becoming that we are on to something very significant. We are working with a range of consultant groups, including mining and metallurgical groups to commence preliminary study work.
The Perth-based explorer is hitting its strides in the 22,000m-plus resource drill-out of the prospective pegmatites at its wholly owned Bananal Valley project in the Minas Gerais province of Brazil. It is the country’s warehouse of commodities, supplying more than half the mineral production of Brazil with gold, iron ore and manganese topping the list.
Adding to the growing list of mineral riches in the Minas Gerais province is lithium with TSX-listed Sigma Lithium Resources outlining a world-class lithium base at its Grota do Cirilo project in 2019, which currently boasts 45.7 million tonnes at 1.38 per cent lithium oxide.
Additionally, close to Latin’s Salinas project, Brazilian company Companhia Brasileira de Litio is actively mining spodumene pegmatites and producing a lithium-rich concentrate that is transferred to a nearby chemical plant where it is transformed into industrial grade lithium hydroxide.
Latin recently beefed up its presence in the region acquiring a highly prospective land package that has stretched the company’s footprint of its Salinas lithium project to more than 6230 hectares.
With the rods spinning at full force, market observers will be keen to see if Latin can replicate its own world-class lithium asset on a prime piece of Brazilian real estate.
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