The Company continues to expand the scale of mineralization at all its properties currently being drilled, boosting its presence in the lithium-rich region of northern Minas Gerais State,
Salinas Drill Results Highlights:
- The following holes confirmed and extended a known pegmatite by least 250 metres to the SW with high-grade results, including (see plan map in Figure 1, Section LT1100 NE in Figure 2, and core photos of hole BGDD-23-118 in Figure 3):
- 1.22% Li2O over 16.7m, including 1.59% Li2O over 6.3m and 1.36% Li2O over 7.0m directly at surface from 48 metres down hole respectively (hole BGDD-23-118)
- 1.51% Li2O over 11.9m from 76 metres down hole (hole BGDD-23-107)
- 1.36% Li2O over 10.0m from 35 metres down hole (hole BGDD-23-115)
- 1.23% Li2O over 8.9m (hole BGDD-23-113)
- 0.98% Li2O over 11.0m (hole BGDD-23-117)
- The following group of holes extended a known pegmatite by ~500 metres to the SW:
- 1.43% Li2O over 11.0m (hole BGDD-23-110)
- 1.66% Li2O over 3.9m (hole BGDD-23-096)
- 1.18% Li2O over 4.9m (hole BGDD-23-103)
- 1.15% Li2O over 5.0m (hole BGDD-23-114)
- 1.49% Li2O over 3.0m (hole BGDD-23-106)
- A new well-mineralized pegmatite has been discovered ~1.5 kilometres North of the main drilled zones, interpreted to be a NE extension of the large outcropping “Lavra do Zoe” pegmatite, which has been mined for spodumene intermittently for several decades. The two discovery holes intersected:
- 1.63% Li2O over 5.6m (hole BGDD-23-127)
- 1.28% Li2O over 3.6m and 1.54% Li2O over 4.0m (hole BGDD-23-126)
- Other notable intercept highlights include:
- 1.08% Li2O over 15.2m and 1.45% Li2O over 6.2m (hole BGDD-23-122)
- 1.31% Li2O over 10.0m (hole BGDD-23-116)
- 1.13% Li2O over 9.1m, including 1.61% Li2O over 4.0m (hole BGDD-23-100)
- 0.96% Li2O over 11.0m, including 1.21% Li2O over 5.0m (hole BGDD-23-102)
Figure 1. Salinas Lithium Project Location & New Drill Intercept Highlights
Figure 2. Section LT 1100 NE
Figure 3. Core Photo, Hole BGDD-23-118
Table 1. Salinas Drill Results
Hole ID | Az | Dip | From | To | Metres | Li2O (%) |
BGDD-23-096 | 310 | -80 | 66.70 | 70.64 | 3.94 | 1.66 |
BGDD-23-103 | 310 | -85 | 170.63 | 172.34 | 1.71 | 1.34 |
and | 194.00 | 198.90 | 4.90 | 1.18 | ||
BGDD-23-105 | 310 | -60 | 154.47 | 158.60 | 4.13 | 0.81 |
BGDD-23-106 | 310 | -60 | 174.54 | 177.54 | 3.00 | 1.49 |
BGDD-23-107 | 290 | -60 | 61.78 | 63.57 | 1.79 | 1.49 |
and | 76.08 | 87.99 | 11.91 | 1.51 | ||
BGDD-23-110 | 310 | -80 | 178.25 | 189.25 | 11.00 | 1.43 |
BGDD-23-112 | 310 | -85 | 244.35 | 253.35 | 9.00 | 1.05 |
BGDD-23-113 | 170 | -75 | 17.50 | 19.20 | 1.70 | 0.96 |
and | 106.51 | 109.66 | 3.15 | 0.86 | ||
and | 115.31 | 124.24 | 8.93 | 1.23 | ||
BGDD-23-114 | 310 | -60 | 209.62 | 214.62 | 5.00 | 1.15 |
BGDD-23-115 | 310 | -85 | 34.95 | 44.95 | 10.00 | 1.36 |
BGDD-23-116 | 310 | -60 | 235.00 | 245.00 | 10.00 | 1.31 |
BGDD-23-117 | 310 | -75 | 194.30 | 205.30 | 11.00 | 0.98 |
BGDD-23-118 | 130 | -65 | 26.02 | 32.02 | 6.00 | 1.16 |
and | 37.68 | 42.72 | 5.04 | 1.11 | ||
and | 48.28 | 65.01 | 16.73 | 1.22 | ||
including | 48.28 | 54.59 | 6.31 | 1.59 | ||
including | 58.05 | 65.01 | 6.96 | 1.36 | ||
and | 72.89 | 79.22 | 6.33 | 1.39 | ||
BGDD-23-119 | 310 | -60 | 72.85 | 74.61 | 1.76 | 1.69 |
and | 157.49 | 159.49 | 2.00 | 0.99 | ||
BGDD-23-120 | 310 | -85 | 274.30 | 278.27 | 3.97 | 0.79 |
and | 284.65 | 289.65 | 5.00 | 1.08 | ||
including | 284.65 | 287.09 | 2.44 | 1.41 | ||
BGDD-23-122 | 130 | -75 | 90.59 | 105.77 | 15.18 | 1.08 |
including | 93.59 | 96.59 | 3.00 | 1.34 | ||
including | 99.59 | 105.77 | 6.18 | 1.45 | ||
BGDD-23-124 | 310 | -60 | 113.23 | 116.00 | 2.77 | 0.96 |
and | 161.31 | 165.10 | 3.79 | 1.46 | ||
and | 200.19 | 201.72 | 1.53 | 0.96 | ||
BGDD-23-125 | 310 | -60 | 198.14 | 202.14 | 4.00 | 1.04 |
and | 255.45 | 269.36 | 13.91 | 0.75 | ||
including | 255.45 | 257.82 | 2.37 | 1.47 | ||
including | 259.95 | 263.28 | 3.33 | 0.69 | ||
including | 266.07 | 269.36 | 3.29 | 0.97 | ||
and | 275.12 | 277.12 | 2.00 | 0.77 | ||
BGDD-23-126 | 310 | -60 | 115.49 | 119.08 | 3.59 | 1.28 |
and | 122.47 | 126.47 | 4.00 | 1.54 | ||
BGDD-23-127 | 310 | -60 | 88.60 | 94.20 | 5.60 | 1.63 |
*No significant results/values (nsv) for holes BGDD-23-054, BGDD-23-104, BGDD-23-108, BGDD-23-111, BGDD-23-121 and BGDD-23-123
About
Quality Assurance and Control
During the drill program, assay samples were taken from NQ core and sawed in half. One-half was sent for assaying at
Qualified Persons
The technical information in this news release has been reviewed and approved by
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Cautionary Note Regarding Forward-Looking Statements
This press release contains statements that constitute “forward-statements.” Such forward looking statements involve known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, performance or achievements, or developments to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Although the Company believes, in light of the experience of its officers and directors, current conditions and expected future developments and other factors that have been considered appropriate that the expectations reflected in this forward-looking information are reasonable, undue reliance should not be placed on them because the Company can give no assurance that they will prove to be correct. When used in this press release, the words “estimate”, “project”, “belief”, “anticipate”, “intend”, “expect”, “plan”, “predict”, “may” or “should” and the negative of these words or such variations thereon or comparable terminology are intended to identify forward-looking statements and information. The forward-looking statements and information in this press release include information relating to the prospectivity of Salinas and the Company’s other mineral properties, the economic viability of the Bandeira project, the mineralization and development of the Company’s mineral properties, the Company’s exploration program and other mining projects and prospects thereof, the Company’s ability to complete a Feasibility Study, the Company’s ability to complete a NI 43-101 mineral resource estimate for Salinas, the Company’s ability to complete an environmental impact assessment and obtain the requisite permitting and approvals and the Company’s future plans. Such statements and information reflect the current view of the Company. Risks and uncertainties that may cause actual results to differ materially from those contemplated in those forward-looking statements and information. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. The forward-looking information contained in this news release represents the expectations of the Company as of the date of this news release and, accordingly, is subject to change after such date. Readers should not place undue importance on forward-looking information and should not rely upon this information as of any other date. The Company undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.
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Figure 1
Salinas Lithium Project Location & New Drill Intercept Highlights
Figure 2
Section LT 1100 NE
Figure 3
Core Photo, Hole BGDD-23-118
2024 GlobeNewswire, Inc., source