Latin poised to probe Brazilian lithium ground
Latin Resources is gearing up to probe its Brazilian lithium ground, ticking off a number of civil and administrative tasks to drive the project into action.
The company says it will now diamond drill a suite of priority targets across its “lithium corridor” in the Bananal Valley, which will form part of the company’s larger Salinas lithium project. Previous sampling at the project delivered rock chips grading 2.71 per cent and 1.45 per cent lithium oxide from spodumene bearing pegmatites mapped over a 1.2-kilometre strike length.
According to Latin, it will commence drilling in the next month or so after securing drilling permits and completing the construction of access roads and associated drilling infrastructure required to drive the project into reality.
The company will initially test two priority target areas where previous high-grade results were unveiled.
The prolific Bananal Valley district forms a crucial component of Latin’s Salinas lithium project in south-west Brazil. The ground lies in the revered Minas Gerais province that also hosts the over C$1 billion market capped Sigma Lithium’s developing Grota do Cirilio Project.
Sigma, listed on Canada’s TSX-V stock exchange, has ground that sits some 60km south of Latin’s tenure and lays claim to a resource of about 52 million tonnes of ore with high-grade lithium. Sigma is currently moving towards production at Grota do Cirilio with an impressive average grade of 1.48 per cent lithium oxide.
Interestingly, earlier sampling at Latin’s neighbouring ground coughed up richer lithium with eye-catching grades of 2.71 per cent lithium oxide.
Latin is very excited to be finally drilling our Brazil lithium projects. It has been a long time coming due to the Covid pandemic, however, our team in Brazil has got the Project back on track. We are confident the testing of multiple high priority targets at Salinas will deliver positive news over the next few months.
ASX-listed Latin is now bunkered down in Brazil as it gears up to sink 14 diamond drill holes across a string of previously identified outcropping pegmatites.
The impending campaign will mark the company’s first probe of its lithium ground containing a highly anomalous and outcropping mineralised trend across a largely unexplored terrain.
The market for all things lithium has been on a tear in recent times, with the mineral earmarked to be a key piece of the new energy puzzle. Latin’s timing looks on the money too, with interest in the electric vehicle market soaring.
With previous rock chip grades going 2.7 per lithium oxide, the company’s looming lithium probe could prove invaluable in establishing it as a key player in the bubbling sector, particularly if it can follow up sampling with equally impressive drill results.
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