Latin unveils new pegmatite zone in Brazil

Diamond drilling at Latin Resources’ Colina prospect, part of the larger Bananal lithium project in Brazil, continues to emphasise the operation’s potential, with a recent probe confirming an additional pegmatite zone at depth. The discovery is situated below a previously defined 7.46m intercept that boasted an up to 20 per cent concentration of visual spodumene content.

Drilling at the prospect’s centre has yielded several stunning intersections so far, including a 25.24m hit at 1.25 per cent lithium oxide from 94.14m. The company says its latest work has validated the wide, spodumene-rich pegmatite strike.

Intriguingly, management has said mineralisation at Colina remains open to the south and with the explorer vectoring in on a late 2022 maiden resource estimate, its latest achievement could be a timely boost.

The company has been testing the pegmatites at Colina over the past few months and given its latest find sits beneath a previous target, the prospect’s central hub looks to be shaping up to be a lucrative new zone.

It will now complete preliminary dense metallurgical test work on drill core pulled from its latest run through at Colina in order to determine the ground’s preliminary recovery and potential lithium grades. The company says the core could also be used to provide guidance for more detailed lab work that could fast-track its exploration activities ahead of its mineral resource.

Latin’s rolling drilling campaign in Brazil forms part of a 100-hole, 22,000m-plus resource definition play at Colina. With recent results suggesting the pegmatites are extending at depth, early signs appear to be pointing to a victory in the company’s Brazilian battery metals hunt.

Away from the Colina, Latin also has its gaze set on a suite of additional pegmatite targets further west that were identified in a previous program.

The company’s Brazilian battery metals ground takes in two key assets: the Bananal Valley and Salinas South lithium projects. Interestingly, both operations are in the Jequitinhonha Valley, within earshot of the country’s only known lithium operation — Sigma Lithium’s Grota do Cirilio project.

Sigma is nearing commercial production at Grota do Cirilio and hopes to produce an end product with a remarkable average grade of about 1.48 per cent lithium oxide.

Latin originally began working in the district about three years ago, after grass-roots exploration led to the discovery of numerous pegmatite sequences within the basement of outcropping metamorphic rocks. A subsequent round of mapping suggested the pegmatites hosted elevated spodumene, a lithium-bearing mineral.

A recent projection by global consulting group Deloitte suggests by 2030 the world could see an up to 950 per cent increase in battery-powered electric vehicles and with Latin seemingly delivering the goods in Brazil, the company could be one to keep an eye on.

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