Home

Latin Resources unearths Brazilian “lithium corridor”

Headshot of Matt Birney
Matt BirneySponsored
Latin Resources could be onto a “lithium corridor” at its  Salinas lithium project following sampling.
Camera IconLatin Resources could be onto a “lithium corridor” at its Salinas lithium project following sampling. Credit: File

Perth-based Latin Resources has stretched its Brazilian lithium tenement with initial outcrop sampling and mapping over the Bananal Valley confirming the presence of spodumene-bearing pegmatites across a duo of new tenements at its Salinas lithium project. The best results from pegmatite sampling included rock chips going 2.71 and 1.45 per cent lithium oxide. A sampling program, completed to the South of Salinas has identified an anomalous “lithium corridor” that stretches across the project.

Latin says the lithium corridor extends north-east to south-west over a six-kilometre distance and has clusters of highly anomalous results.

The company is now bedded down in Brazil as it carries out a follow-up campaign that includes infill sampling of the high-grade anomalous zone.

The highly prospective Bananal Valley district is but a piece of Latin’s heftier Salinas lithium project in south west Brazil. The district is nestled in the revered Minas Gerais province that also hosts Sigma Lithium’s developing lithium operation.

Get in front of tomorrow's news for FREE

Journalism for the curious Australian across politics, business, culture and opinion.

READ NOW

Sigma’s landholdings are around 60 km south of Latin’s tenure and have a resource of about 52 million tonnes of high-grade lithium. Sigma is now progressing to production with a serious average grade of 1.48 per cent lithium oxide.

Interestingly, Latin’s recent sampling program drew a grade of 2.71 per cent lithium oxide, some way above Sigma’s.

If we can replicate the success of one of our closest peers, TSX listed Sigma, located around 80km southeast, with a market capitalisation just shy of CAD$1 billion market today, the Salinas Lithium Project would add enormous value to Latin’s shareholders.

The field team have identified significant spodumene outcrop that will potentially grow into a lithium Mineral Resource. The next step is to identify high profile lithium drill targets and commence drilling as soon as we can.The field team have identified significant spodumene outcrop that will potentially grow into a lithium Mineral Resource. The next step is to identify high profile lithium drill targets and commence drilling as soon as we can.

Executive Director, Chris Gale

The company is now progressing a follow-up survey to refine its drill targets ahead of its planned maiden drilling campaign.

Lithium is considered by many to be the key industrial fuel of the future. With the electric vehicle markets burgeoning and lithium prices staging a massive return after a two year hiatus, Latin’s timing looks to be right on the money.

With a hand full of high-grade results spread across the Salinas lithium project and the potential for the company to open up a lithium corridor to the south of the project area, Latin could be set to creep onto a few more radars by year’s end.

Is your ASX-listed company doing something interesting? Contact: matt.birney@wanews.com.au

Get the latest news from thewest.com.au in your inbox.

Sign up for our emails