Latin Resources Limited has issued an update on drilling efforts at its wholly-owned Salinas Lithium Project in Brazil.
According to Latin, the latest results confirm the expansion of the Colina pegmatite swarm and provide additional confidence in a significant resource upgrade in June.
The company said its 65,000 m resource definition diamond drilling campaign is progressing well, with a total of 32,000 m now completed in 109 diamond drill holes at the flagship Colina Lithium Deposit.
It added that the high-grade pegmatite swarm extends over an area of approximately 1 km by 1 km to a depth of 400 m below the surface, open in all directions.
The expansion of the Colina lithium pegmatites and the strong correlation between the drill holes and drill sections increase the company’s confidence in the potential to significantly grow the existing 13.2 Mt at a 1.2 per cent lithium oxide mineral resource estimate.
In line with the work at Salinas, the company’s board recently approved an aggressive exploration budget for the wider Salinas Lithium Project, which includes the addition of four diamond drilling rigs, bringing the total number of rigs on site to eight.
Latin Resources said it would continue to review and update the Colina resource model wireframes as more drilling information becomes available.
Resources Geology Manager Tony Greenaway stated that the consistency in both the pegmatite thickness and lithium grades at the Colina deposit is highly encouraging.
He added that the results improved the company’s confidence in significantly upgrading the Colina mineral resource in June.
“We are very focused on finding the extent of the rapidly growing system at Colina, where the pegmatite swarm remains open in all directions. Drilling is progressing very well, and we are on track to close off our drilling database in mid-May to enable Joint Ore Reserve Committee (JORC) Resource estimation process to commence in June,” Greenaway said.
