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Latin unveils 241 per cent Brazilian lithium resource boost

Updated: Apr 23

Latin Resources’ directors on site in Brazil with members of the local workforce. Credit: File

Latin Resources has tabled a massive 241 per cent increase to its mineral resource estimate at its Colina lithium deposit in Brazil. It now sits at an impressive 45.2 million tonnes at 1.34 per cent lithium.

Management says the new figure confirms a higher lithium tonnage and grade with 67 per cent of the resource, or 30.2 million tonnes, going 1.4 per cent lithium and sitting in the measured and indicated category. The new resource also represents a lithium carbonate equivalent (LCE) of nearly 1.5 million tonnes.

A full breakdown of the JORC classification of the resource reveals 430,000 tonnes going 1.34 per cent lithium measured, 29.7 million tonnes grading 1.37 per cent lithium indicated and 15 million tonnes running 1.22 per cent lithium inferred.

The company now believes its Colina deposit is heading towards becoming a “tier-one” global deposit in terms of its size, grade and location.

A deposit is considered to have entered the top tier once it has the equivalent of 100,000 tonnes of LCE with a 20-year mine life. Such deposits include Tianqi Lithium and Talison Lithium’s Greenbushes mine, Pilbara Minerals’ Pilgangoora lithium project and Liontown Resources’ Kathleen Valley lithium project.

We are very excited and proud to announce this significant upgrade to our JORC resource, which is starting to show the true potential of the Colina Deposit. The increase in both size and grade reflects our early confidence in the prospective nature of our tenure in Brazil to potentially produce a tier one lithium deposit. What is even more exciting for us is the potential for resource extensions to the southwest and the multiple regional targets that we are set to drill in our ongoing work at Salinas. Latin Resources managing director Chris Gale

The tiger that Latin appears to have by the tail at Colina appears to be much bigger than it expected, with its footprint now expanding to more than 2km. With the deposit also open at depth and along strike, management remains confident it can further beef up its numbers as its eight drill rigs continue to work through a 65,000m campaign.

The company’s mission has received crucial support from both Federal and State Governments in Brazil, who are keen to ensure the nation’s lithium sector is well-placed to supply North American and European markets. Brazilian officials are making every effort to streamline the development and construction of projects to attract further investment.

With Sigma Lithium already producing from its 85.6 million tonnes at 1.43 per cent lithium Grota do Cirilo project in Brazil, Latin believes once it is also online, Brazil will move up to third spot on the global leader board of lithium production.

With the financial grunt to take its project through its definitive feasibility study next year – and then to production – Latin appears to be riding the crest of a rising lithium wave in Brazil that could help reshape the global market.

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