Latin Resources Limited (ASX: LRS) ('Latin' or 'the Company') is pleased to provide a company update on the latest drilling results from resource definition drilling currently underway at the Company's 100% owned and fully funded Salinas Lithium Project ('Salinas') in Brazil.
Latin Resources' Geology Manager, Tony Greenaway commented: 'We continue to see great results coming out of the resource definition drilling at our Colina Deposit. The consistency in both the pegmatite thickness and lithium grades is extremely encouraging, bolstering our confidence to be able to deliver what we believe will be a significant upgrade to the Colina mineral resource in June. 'We are very focused on finding the extents of the rapidly growing system at Colina, where the pegmatite swarm remains open in all directions. Drilling is progressing very well, and we are on track to close off our drilling database in mid-May to enable the JORC Resource estimation process to commence in June.'
Resource definition drilling
The Company's 2023, 65,000 metre resource definition diamond drilling campaign is progressing well, with a total of 32,000 meters now completed in 109 diamond drill holes at the flagship Colina Lithium Deposit in Brazil. Recently received assay results from drill core samples continue to highlight the consistency of the high-grade pegmatite swarm at Colina, with mineralisation now defined over an area of one kilometre by one kilometre to a depth of 400m below surface. The pegmatite swarm remains open in all directions and at depth. Drilling is ongoing. The ongoing expansion of the Colina lithium pegmatites, as well as the strong correlation seen between drillholes and drill sections, provides the Company with increased confidence of the potential to significantly grow the existing 13.2Mt @ 1.2% Li2O Mineral Resource Estimate ('MRE')1 . SGS geological consultants have completed site inspections of the new drill core including the 33.07m @ 1.83% Li2O pegmatite intersected in SADD0772 , in preparation for the MRE update which is scheduled for June 2023.
Salinas South Prospect - regional mapping, soil geochemistry and drilling plannedIn addition to the current resource definition drilling campaign, Latin has completed regional mapping activities focused around the Salinas South tenement area located approximately 17.0km to the south-west of Colina, where the previous seasons' exploration work identified a 'lithium corridor' extending across 4.0km. Soil sampling completed toward the end of the previous campaign highlighted an area of anomalous lithium in the northeast of the tenement. The completed new mapping has identified initial drill targets where the Company intends to commence drilling in May/June
Metallurgical test work program
Final selection of a representative bulk sample for the next round of metallurgical test work is in the final stages, with drilling of large diameter PQ size drill core set to commence in late May. The proposed test work will follow on from the existing Heavy Liquid Separation ('HLS') test work which returned exceptional recoveries4 of over 80.5% of lithium recovered in a concentrate grading up to 6.6% Li2O. The Company recently visited the SGS Lakefield laboratory in Canada to evaluate their Dense Media separation ('DMS') pilot plant. This next phase of planned work will include multiple full Dense Media separation pilot scale tests, fines flotation test work, and hydrometallurgical lithium conversion test work to produce lithium hydroxide and lithium sulphate products from the raw Colina pegmatite feed. This test work is designed to provide information for the upcoming Definitive Feasibility Study ('DFS').
Contact:
Chris Gale
Managing Director
Latin Resources Limited
Tel: +61 8 6117 4798
About Latin Resources
Latin Resources Limited (ASX: LRS) is an Australian-based mineral exploration company, with projects in South America and Australia, that is developing mineral projects in commodities that progress global efforts towards Net Zero emissions. The Company is focused on its flagship Salinas Lithium Project in the pro-mining district of Minas Gerais Brazil, where the Company has defined a Maiden Mineral Resource Estimate of 13.3Mt @ 1.2% Li2O with an exploration target of 22Mt at its Colina Deposit. Latin has appointed leading mining consultant SGS Geological Services to undertake feasibility and metallurgical studies at the Salinas Lithium Project. Latin also holds the Catamarca Lithium Project in Argentina and through developing these assets, aims to become one of the key lithium players to feed the world's insatiable appetite for battery metals. The Australian projects include the Cloud Nine Halloysite-Kaolin Deposit. Cloud Nine Halloysite is being tested by CRC CARE aimed at identifying and refining halloysite usage in emissions reduction, specifically for the reduction in methane emissions from cattle
Forward-Looking Statement
This ASX announcement may include forward-looking statements. These forward-looking statements are not historical facts but rather are based on Latin Resources Ltd.'s current expectations, estimates and assumptions about the industry in which Latin Resources Ltd operates, and beliefs and assumptions regarding Latin Resources Ltd.'s future performance. Words such as 'anticipates', 'expects', 'intends', 'plans', 'believes', 'seeks', 'estimates', 'potential' and similar expressions are intended to identify forward-looking statements. Forward-looking statements are only predictions and are not guaranteed, and they are subject to known and unknown risks, uncertainties and assumptions, some of which are outside the control of Latin Resources Ltd. Past performance is not necessarily a guide to future performance and no representation or warranty is made as to the likelihood of achievement or reasonableness of any forward-looking statements or other forecast. Actual values, results or events may be materially different to those expressed or implied in this ASX announcement. Given these uncertainties, recipients are cautioned not to place reliance on forward looking statements. Any forward-looking statements in this announcement speak only at the date of issue of this announcement. Subject to any continuing obligations under applicable law and the ASX Listing Rules, Latin Resources Ltd does not undertake any obligation to update or revise any information or any of the forwardlooking statements in this announcement or any changes in events, conditions or circumstances on which any such forward looking statement is based
Forward-Looking Statement
This ASX announcement may include forward-looking statements. These forward-looking statements are not historical facts but rather are based on Latin Resources Ltd.'s current expectations, estimates and assumptions about the industry in which Latin Resources Ltd operates, and beliefs and assumptions regarding Latin Resources Ltd.'s future performance. Words such as 'anticipates', 'expects', 'intends', 'plans', 'believes', 'seeks', 'estimates', 'potential' and similar expressions are intended to identify forward-looking statements. Forward-looking statements are only predictions and are not guaranteed, and they are subject to known and unknown risks, uncertainties and assumptions, some of which are outside the control of Latin Resources Ltd. Past performance is not necessarily a guide to future performance and no representation or warranty is made as to the likelihood of achievement or reasonableness of any forward-looking statements or other forecast. Actual values, results or events may be materially different to those expressed or implied in this ASX announcement. Given these uncertainties, recipients are cautioned not to place reliance on forward looking statements. Any forward-looking statements in this announcement speak only at the date of issue of this announcement. Subject to any continuing obligations under applicable law and the ASX Listing Rules, Latin Resources Ltd does not undertake any obligation to update or revise any information or any of the forwardlooking statements in this announcement or any changes in events, conditions or circumstances on which any such forward looking statement is based
LATIN RESOURCES LIMITED 
