Latin Resources (ASX: $LRS) announces high-grade results from Salinas Lithium Project

Latin Resources Limited (ASX: $LRS) has reported multiple high-grade assay results from the ongoing resource drilling program at the Colina Deposit, affirming the continuity of thickness, consistency, and quality of the mineralisation of the Salinas Lithium Project in Brazil. The results include one of the largest intersections encountered at the Salinas Project ever recorded in SADD246 with 32.92m @ 1.62% Li2O from 325.19m, demonstrating the robustness of the early interpretations for the Colina Pegmatites. The company is planning a fourth updated Colina Mineral Resource Estimate for Q2 2024 and a DFS release for Q3 2024.

Executive commentary on drilling success and future plans

Latin Resources' Vice President of Operations - Americas, Tony Greenaway, stated, 'With the Colina deposit infill drilling almost complete we are gearing up to run our next Mineral Resource Estimate. This update will be focused on increasing the JORC mineral classification of the existing 63.5Mt resource to enable the declaration of Mineral Reserves as part of the DFS which is currently underway. Results from our infill drilling have closely matched our existing data, confirming the robustness of our early interpretations for the Colina Pegmatites. Once the infill drilling is completed, we will refocus some of our drilling fleet back onto our high priority exploration target at Planalto, where our first drill hole intersected thick high-grade mineralisation.'

Summary of high-grade results and future outlook

Latin Resources has received significant mineralised intercepts from the ongoing resource drilling program at the Colina Deposit, confirming the top tier quality of the Salinas Lithium Project. The company plans to update the Colina Mineral Resource Estimate and release a DFS in the coming quarters. The true thickness analysis of current pegmatite intersections has shown that a substantial portion of the December '23 MRE is derived from pegmatites greater than 5m true thickness, indicating the deposit's amenability to simple open cut mining. Latin Resources aims to become a key player in the lithium market to support global efforts towards Net Zero emissions.