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(Kitco News) – Latin Resources (ASX: LRS) yesterday announced a “substantial” upgrade to the mineral resource estimate at the company’s 100% owned Salinas lithium project in Brazil.
The company said that the updated measured, indicated and inferred mineral resources for the expanded Colina deposit have increased by over 241% to a total of 45.2Mt @ 1.34% Li2O, reported above a cut-off of 0.5% Li2O.
Latin Resources added that this upgraded resource of 45 million tonnes represents a lithium carbonate equivalent (LCE) of 1,477,000 tonnes, and will provide solid inputs into the company’s preliminary economic assessment scheduled for completion in Q3 2023.
Importantly, according to a news release, the Colina deposit remains open at depth and along strike to the southwest, where systematic stepout drilling is ongoing, highlighting the significant potential and giving the company confidence that one large, continuous mineralized lithium system exists in the immediate project area.
The company also noted that the aggressive 65,000m drilling campaign planned for 2023 is continuing, with all eight drilling rigs on site testing the Colina extension and new regional targets.
Latin Resources is an Australian-based mineral exploration company, with projects in South America and Australia. The company is focused on its flagship Salinas lithium project in Brazil. Latin also holds the Catamarca lithium project in Argentina.
