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Latin Resources Confirms New Salinas Lithium Corridor

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THE DRILL SERGEANT: Latin Resources (ASX: LRS) reported news from regional exploration activities at the company’s 100 per cent-owned Salinas lithium project in Brazil.

Following a recent Mineral Resource Estimate (RE) update, Latin Resources is working to expand the project’s existing Colina deposit footprint via extensional diamond drilling programs to the southwest of the Colina deposit and at several regional target areas with eight diamond drilling rigs active on site.

Latin Resources said drilling has intersected spodumene rich pegmatites from multiple diamond drill holes, at two separate locations within the company’s prospective lithium corridor, from which assay results are pending.

Latin declared the drilling had confirmed an extension of the ‘Colina pegmatite system’ from drill testing of a ‘blind’ geophysical target, 560 metres to the southwest of the Colina, where three of four holes completed to date encountered shallow east dipping, course grained spodumene rich pegmatites, again from which assay results are pending.

Diamond drilling is underway on an initial 4,000m drilling program at the new Colina SW and Fog’s Block targets.

“These are significant new discoveries by the Salinas exploration team, demonstrating our strong understanding of the regional controls to mineralisation within our district,” Latin Resources vice president of operations – Americas Tony Greenaway said in the company’s ASX announcement.

“These latest drilling intersections validate our regional interpretation of a large, mineralised pegmatite system potentially extending up to 26 kilometres to the southwest of our flagship Colina deposit and provides Latin with a very clear pathway for further resource expansion.

“While these early drill core observations are extremely encouraging, we are still waiting for assay results and need to fully evaluate this information within the context of all our drilling results to fully understand the larger regional system.

“We will continue to drill test these newly identified areas in parallel with the ongoing infill and systematic step-out drilling at Colina itself, with the aim of growing the existing 45 million tonnes resource base at Colina.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Latin Resources Increases Colina Mineral Resource Estimate

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THE DRILL SERGEANT: Latin Resources (ASX: LRS) reported a hefty upgrade to the Colina deposit Mineral Resource Estimate (MRE), within the company’s 100 per cent-owned Salinas lithium project in Brazil.

Latin Resources completed a resource definition drilling program at Colina in the first half of 2023 on pegmatite swarms, down dip and extending to the southwest of the existing Colina MRE.

The company’s review of new drilling results and the updated geological model for Colina increased the total resource base by 241 per cent, from 13.25 million tonnes to 45.2 million tonnes resulting in 1.5 million tonnes of contained lithium carbonate equivalent (LCE).

The updated MRE has also seen a substantial proportion, 67 per cent classified into the JORC Measured and Indicated categories, which the company declared to reflect its high levels of confidence in both the geological continuity and grade of the Colina Pegmatites.

“We are very excited and proud to announce this significant upgrade to our JORC resource, which is starting to show the true potential of the Colina deposit,” Latin Resources managing director Chris Gale said in the company’s ASX announcement.

“The increase in both size and grade reflects our early confidence in the prospective nature of our tenure in Brazil to potentially produce a tier one lithium deposit.

“This significant upgraded resource, and the potential value add of strengthening lithium prices, will provide solid inputs into our Preliminary Economic Assessment (PEA) which we believe sets us up well for future success.

“What is even more exciting for us is the potential for resource extensions to the southwest and the multiple regional targets that we are set to drill in our ongoing work at Salinas.

“Our eight drill rigs will remain busy with this program through to the end of the year, and we eagerly await more resource upgrade results from these potential expansion areas.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Latin Resources Increases Salinas Lithium Project Tenure

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THE DRILL SERGEANT: Latin Resources (ASX: LRS) will host a busy booth at the RIU Explorers Conference next week after announcing expansion of the company’s Salinas lithium project in Brazil.

Latin Resources has expanded its Salinas project tenure, by securing a large package of new tenements in the highly prospective region which hosts the company’s 100 per cent-owned Colina lithium deposit.

Latin Resources released a maiden Mineral Resource Estimate (MRE), for the Colina deposit of 13.3 million tonnes at 1.2 per cent lithium oxide (Li2O), along with a JORC Exploration Target Range (ETR) for the deposit of 13.5 – 22 million tonnes with a grade range of 1.2 – 1.5 per cent Li2O, in early December 2022.

The company has lodged 17 new applications covering over 29,940 hectares with the Brazilian National Mining Agency (ANM) over what it considers areas that contain favourable basement lithologies to host lithium bearing pegmatites, like those found at Colina.

“The Bananal Valley region is a highly prospective district, as we have proved with the discovery and delineation of the Colina lithium deposit,” Latin Resources geology manager Tony Greenaway said in the company’s ASX announcement.

“Our proprietary knowledge gained over the past 12 months throughout the resource definition drilling of Colina, coupled with our understanding of the wider regional controls to mineralisation in this area, has enabled us to identify these opportunities to secure what we believe are favourable exploration areas for the company.”

 

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Latin Resources Confirms Colina West Potential

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THE DRILL SERGEANT: Latin Resources reported on drilling results achived from drilling undertaken last year on the Colina West area at the company’s 100 per cent-owned Salinas lithium project in Brazil.

Latin Resources said assay results received from 2022 diamond drilling confirmed the Colina West prospect represents an exceptional resource growth opportunity.

Over 67m (cumulative) of mineralised lithium pegmatites were intersected in one hole, located approx. 200m along strike to the south of the Colina West discovery hole, returning intersections of:

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13.73 metres at 1.38 per cent Li2O from 200.19m;
16.08m at 1.07 per cent Li2O from 306.69m;
10.85m at 1.96 per cent Li2O from 322.15m;
11.16m at 1.61 per cent Li2O from 360.17m; and
16m at 1.61 per cent Li2O from 393.6m.

“The Colina West area is shaping up to be a critical new discovery,” Latin Resources geology manager Tony Greenaway said.

“The thick high‐ grade mineralisation we have encountered here is on par with, or arguably better that the main Colina deposit.

“The potential scale of the Colina West discovery, highlighted by these latest results, means that this area is a major focus for our current 2023 drilling campaign.

“We believe, that with more drilling, Colina West has the potential to deliver significant tonnes to the overall resource base for the project.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

 

Latin Resources Confirms Zones of Bright Noombenberry Kaolin

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THE DRILL SERGEANT: Latin Resources (ASX: LRS) provided a rundown of recent activity at the company’s 100 per cent-owned Noombenberry halloysite-kaolin project, near Merredin in Western Australia.

Latin Resources is currently advancing the Cloud Nine deposit at Noombenberry through preliminary and Pre-Feasibility (PFS) mining studies.

The company has recently completed a campaign of Resource infill and extension drilling and sampling, that results from which are expected to provide sufficient data to increase the current Inferred MRE to a JORC Indicated and potentially Measured classification.

In May, Latin announced a maiden Mineral Resource Estimate of 207 million tonnes of kaolinised granite, which included separate domains containing 123 million tonnes of bright-white kaolinite and 84 million tonnes of kaolin/halloysite-bearing material.

Results from close spaced drilling to confirm continuity of Ultra-High brightness (+80 ISO-B) kaolinite at Cloud Nine, include:

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10 metres at 85.8 ISO-B from 10m; and

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24m at 83.4 ISO-B from 14m.

Early results from initial metallurgy indicate improved yields may be achieved from the fine fraction of the kaolinised granite.

“These latest results from our close spaced drilling are exceptional,” Latin Resources exploration manager Tony Greenaway said in the company’s ASX announcement.

“They have exceeded our expectations, in that they have shown that for this area, the thickness and brightness of the kaolinite zone and grades of the halloysite zone are far better than our Inferred block model suggests.

“This finding will have a significant impact on our next phase of resource estimation as we look to upgrade our model from Inferred to Indicated and potentially Measured in this area.

“These results have also given us the confidence to step-up the pace of our preliminary mining studies, as we move to fast-track the Cloud Nine deposit towards a potential DSO operation.”

 

 

 

Email: info@latinresources.com.au

Web: www.latinresources.com.au

 

Latin Resources Sells Off Peruvian Copper Projects

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THE BOURSE WHISPERER: Latin Resources (ASX: LRS) finalised the sale of the company’s Peruvian copper assets to TSX-V-listed Westminster Resources Limited (WMR).

Latin Resources said the sale and transfer will entitle Westminster to 100 per cent ownership of a total of 44 concessions, including the Ilo Norte and Ilo Este projects, spread over 36,000 hectares that are held by Latin’s 100 per cent-owned subsidiary, Peruvian Latin Resources.

Westminster has completed due diligence and the formal Property Purchase Agreement has been executed by both parties with Latin to receive the first instalment of USD$150,000 ($195,000) within seven days.

Based on the current share price of WMR of CAD$0.345 the sale transaction has a total value of more than $6.8 million comprising $6.5 million in shares and US$250,000 in cash.

“The objective of the sale of the projects was to secure material tangible value for Latin’s shareholders given that the projects are no longer a strategic priority of Latin and are surplus to its requirements,” Latin Resources explained in its ASX announcement.

“It will also save the company $140,000 in annual concession costs.”

Latin Resources said the divestment of its copper projects will now allow the company to focus on its lithium and cobalt projects in Argentina, where it has 101,096 Hectares under application or agreement in San Luis Province and over 70,000 hectares in the Catamarca province.

“This is the largest lithium hard rock pegmatite land holding in Argentina,” the company claimed.

“The company remains in discussions with a number of parties in relation to joint venture and offtake opportunities to assist in and fast track the development of its lithium projects.”

 

Email: info@latinresources.com.au

Website: www.latinresources.com.au