Latin Resources Limited (ASX: LRS) is preparing to commence a new exploration program to start on LRS 100% owned and optioned lithium tenements in the state of Minas Gerais in Brazil.
The company has appointed local geologists to carry out field work to define drill targets on the Salinas tenements. Latin Resources’ geologists completed significant field work on the tenements in 2019 in which located several occurrences of spodumene never previously known or reported.
Executive Director, Chris Gale, said focus will be now given to the well advanced spodumene tenure which will allow the Company to rapidly drill test any potential lithium deposit and enable it to be quickly advanced to JORC compliancy.
The company’s in country resources will now be directed on the Brazilian lithium projects where Latin Resources believe they can effectively execute exploration programs to deliver positive news and results to its shareholders in a timely manner.
The company’s 2019 exploration programme showed numerous pegmatites were located hosted in schist and showed homogenous spodumene mineralisation. The pegmatites cross- cut the rivers with exposure in a general NNW trend and continued into the neighbouring tenement to the south.
Further work on the pegmatites will now be followed up to determine their relationship to the Salinas main pegmatite which is 1.5km NE. The 600m distance between points in the west and points in the east showing spodumene mineralisation is a good sign for a potential continuous pegmatite field below surface.
In summary exploration work carried out in 2019 as follows:
- The largest exposure of pegmatite visited on the tenement displayed 12m of outcrop width.
- Visual estimation of up to 25% spodumene mineralisation.
- Discovery of new pegmatite’s occurrence showed consistent spodumene mineralisation.
We are extremely pleased to start work again on our very exciting Brazilian lithium projects,” Mr Gale said.
“The work carried out in 2019 by our technical team have uncovered some wonderful opportunities in Brazil. The more we investigate Minas Gerais the more we get excited about the huge potential this underexplored region holds.
“This significant time and investment into Brazil marks the start of the Company’s lithium strategy to develop valuable lithium projects in a fantastic mining province. I am very confident that the company can quickly and effectively execute exploration programs in Brazil which we hope will deliver positive news to its shareholders in a very timely fashion.”
Latin’s lithium projects are held by its 100% owned Brazilian subsidiary, Mineracao Ferro Nordeste , in the Jequitinhonha valley region of Minas Gerais which hosts the Eastern Brazilian pegmatite province, home to Sigma Lithium and lithium producer Companhia Brasileira de Lítio (CBL).
