Latin Resources hits multiple spodumene pegmatites in first drill hole at Salinas

Latin plans to drill 14 diamond holes, spanning 2,000 metres, in its first phase of drilling at the Salinas property.

The light green spodumene crystals in drill core from the first hole at the Salinas Lithium Project.

Latin Resources Ltd (ASX:LRS) has intersected multiple zones of spodumene pegmatites in its first drill hole at the Salinas Lithium Project in Brazil.

Drilling continues in search of the hole’s targeted depth, but the top 90 metres has already hit three separate, shallow-dipping spodumene pegmatites in the maiden hole.

Priority drill targets were identified through surface sampling, which returned high-grade results including 2.71% lithium oxide (Li₂O) and 1.45% Li₂O from spodumene bearing pegmatites, mapped over a strike length of more than 1.2 kilometres.

Ultimately, the work to date indicates there could be a new lithium discovery in one of the world’s best mining jurisdictions.

Overall, Latin plans to drill 14 diamond holes, spanning 2,000 metres, in its first phase of drilling at the Salinas property.

“Potentially on the cusp of a major new lithium discovery”

Commenting on the drill update, Latin Resources’ managing director Chris Gale said: “This is a very good start to our drilling campaign with our first hole at our Salinas Project intersecting three separate spodumene-bearing pegmatites.

“Our previous mapping and sampling have shown us that there is high-grade lithium in the mapped pegmatites within the project area over a strike extent of 1.2 kilometres, and this drilling has now confirmed the presence of additional thick pegmatites at depth.

“Our team in Brazil have proved the concept of lithium-bearing pegmatites so Latin Resources could now potentially be on the cusp of a major new lithium discovery in the Bananal Valley.

“We have a total of 14 diamond holes and 2,000 metres planned at this location, and will be testing the full strike extent of the mapped pegmatite occurrence over the coming weeks.

“Our field team will prioritise the logging and sampling of this first hole, so that we can confirm the lithium grades of these spodumene pegmatites.”

In the maiden Salinas drill hole, Latin intersected a number of spodumene pegmatites up to 5.25 metres thick.

The field team plans to continue drilling to 120 metres deep, or when mineralisation finishes.

The geological team expects to see thicker zones as these pegmatites are known to pinch and swell, as evidenced in the company’s surface mapping and sampling.

Latin will provide additional updates throughout the 14-hole campaign and as assay results are received and interpreted.

Lithium in Minas Gerais, Brazil

Latin’s current drill program will see it explore one of the world’s most prolific lithium hubs.

The Salinas property lies within the highly prospective Bananal Valley district of the Minas Gerais Province — a rich mining region in Brazil, and home to the Grota do Cirilio Project, which is being developed by billion-dollar stock and TSX-V-lister Sigma Lithium Corp.

Sigma Lithium is the most active lithium explorer in the Minas Gerais region, with a world-class lithium resource base that stands at 45.7 million tonnes at 1.38% lithium oxide.

Sigma is focused on 10 high-grade hard-rock lithium pegmatites, nine of which were past-producing lithium mines, yet have reported more than 200 pegmatites within their tenure.

Sigma is now in pre-construction of its large-scale lithium concentration commercial production plant in Minas Gerais.

Based on the feasibility study, the commercial production plant will contemplate producing 220,000 tonnes of battery-grade 'green' lithium concentrate annually, while Sigma will be among the lowest-cost producers of lithium concentrate globally.

Not far away, CBL is actively mining spodumene pegmatites, producing a spodumene concentrate which is then transferred to a chemical plant in Divisa Alegre, Minas Gerais, where it is transformed into industrial grade lithium hydroxide.

Latin Resources is particularly excited by the opportunities this may present in the future for battery-grade lithium hydroxide production.