The latest drilling results recently released by Australian-based mineral exploration company — Latin Resources Ltd — from the Colina Deposit and Fog’s Block in Brazil have yielded high-grade lithium, enforcing the project’s Tier One status.
Following the previous mineral resource estimate (MRE) in June 2023, an additional 53 holes (23,617 metres) were drilled at the Colina Deposit, and 13 diamond drill holes (4,575.7 metres) at Fog’s Block.
Latin Resources Vice President of Operations – Americas Tony Greenaway said: “This latest update represents a solid five months of drilling which was focused on extending the Colina Deposit to the southwest along the Salinas Lithium Corridor, as well as infilling parts of the existing resource model.
“The geology team on site have been working closely with our independent resource consultants SGS geological services to construct the new wireframes and compile all the necessary data to update our resource model which will form the basis of the DFS which is scheduled for completion in mid-2024,” said Greenaway.
Significant intercepts from the Colina Deposit include:
- SADD158: 15.70m @ 1.59% Li2O from 206.09m and 20.74m @ 1.42% Li2O from 335.45m
- SADD170: 17.54m @ 1.42% Li2O from 350.53m
- SADD184: 17.00m @ 1.55% Li2O from 139.00m
- SADD195: 13.56m @ 2.03% Li2O from 98.44m and 25.55m @ 1.57% Li2O from 307.80m
- SADD195: 25.55m @ 1.57% Li2O from 307.80m
- SADD200: 16.98m @ 1.85% Li2O from 235.54m
- SADD201: 15.88m @ 1.27% Li2O from 329.12m
- SADD202: 26.85m @ 1.39% Li2O from 260.75m
The Fog’s Block drilling program has also delivered significant lithium intercepts, highlighting the Salinas Project’s potential.
Results include:
- MCDD007: 6.94m @ 1.13% Li2O from 278.06m
- MCDD008: 15.33m @ 1.03% Li2O from 211.74m
- MCDD009: 12.60m @ 1.15% Li2O from 173.40m and 17.52m @ 1.48% Li2O from 250.58m
- MCDD009: 17.52m @ 1.48% Li2O from 250.58m
An upgrade to the current Colina MRE (45.2Mt @ 1.32% Li2O) is expected in December 2023, following the completion of the latest resource expansion drilling program.
Latin Resources plans to continue its robust exploration strategy, operating at least 10 diamond drill rigs at the Salinas Project through 2024 — aiming for a significant increase in the Global JORC MRE.
“Drilling has not stopped on site, with all 10 rigs still turning,” said Greenaway.
“We have moved our focus to predominantly infill drilling within the new resource footprint, with the aim of increasing the resource classification to enable the declaration of mining reserves as a part of the DFS process.”
