Latin Resources releases encouraging drilling results from Ancasti lithium project
Hey! Looks like you have stumbled on the section of our website where we have archived articles from our old business model.
In 2019 the original founding team returned to run Next Investors, we changed our business model to only write about stocks we carefully research and are invested in for the long term.
The below articles were written under our previous business model. We have kept these articles online here for your reference.
Our new mission is to build a high performing ASX micro cap investment portfolio and share our research, analysis and investment strategy with our readers.
Click Here to View Latest Articles
Latin Resources (ASX:LRS) has released final analysis results from its initial reverse circulation drilling program at the company’s lithium project in the Ancasti region of Catamarca, Argentina.
LRS has secured a large tract of territory in that region with over 101,450 hectares of exploration concessions in the lithium pegmatite districts of Catamarca and San Luis Provinces, Argentina.
Of the 40 holes drilled across a total of 2680 metres, there was a significant focus on the Reflejos del Mar and Campo el Abra prospects with the latter being open along strike to the north and south, and at depth down dip to the east.
Significant grades of up to 2.4% lithium dioxide were identified at Campo el Abra, and management has flagged this as an area which will be followed up in future drilling programs.
Reflejos del Mar
Looking first at Reflejos del Mar where drilling was completed on March 2, of the thirteen holes drilled, eight intercepted pegmatites of between 1 and 8 metres in apparent thickness. The drilling successfully intersected the down dip extension of the pegmatite orebody exploited in the historic mine and confirmed the LRS geological model.
Highlighting the encouraging grades and associated mineralisation at Reflejos del Mar, LRS’s Managing Director, Chris Gale said, “These first pass exploration results are very encouraging with several significant intercepts containing lithium grades that are considered suitable for further investigation and possible development. It is also worth noting the presence of elevated niobium and tantalum grades which may contribute to any future operation with by‐product credits”.
Campo el Abra
Drilling was completed at Campo el Abra on March 8. Of the eight holes drilled, six intercepted pegmatites of between 6 and 17 metres in apparent thickness, containing between trace visual spodumene up to 30% as logged by onsite geologists.
Management said the pegmatite intercepted was the down dip extension of the outcropping pegmatite that was the subject of small scale historical mining, and that its location and orientation was consistent with post mapping expectations.
All 65 samples taken at Campo el Abra have now been received and processed. LRS noted that the grades were significant and lay in the correct range to support further investigation and possible developmental studies. The mineralisation is of reasonable thickness when considering possible theoretical mining scenarios and it is open to the north, south and at depth.
Results point to successful exploration campaign at San Luis
Summing up these latest developments, Gale said, “The continuing evidence of solid lithium assay results, combined with significant thickness on our spodumene pegmatites is building our lithium strategy in Catamarca”.
Gale noted that the group could now build a strong case that the majority of pegmatites on the 70,000 hectare project area will contain viable lithium grades.
While this is encouraging news for the Catamarca project, Gale also highlighted that it makes the next phase of the company’s exploratory drilling at San Luis even more exciting given the known structures are thicker in nature and run for hundreds of metres in length.
General Information Only
S3 Consortium Pty Ltd (S3, ‘we’, ‘us’, ‘our’) (CAR No. 433913) is a corporate authorised representative of LeMessurier Securities Pty Ltd (AFSL No. 296877). The information contained in this article is general information and is for informational purposes only. Any advice is general advice only. Any advice contained in this article does not constitute personal advice and S3 has not taken into consideration your personal objectives, financial situation or needs. Please seek your own independent professional advice before making any financial investment decision. Those persons acting upon information contained in this article do so entirely at their own risk.
Conflicts of Interest Notice
S3 and its associated entities may hold investments in companies featured in its articles, including through being paid in the securities of the companies we provide commentary on. We disclose the securities held in relation to a particular company that we provide commentary on. Refer to our Disclosure Policy for information on our self-imposed trading blackouts, hold conditions and de-risking (sell conditions) which seek to mitigate against any potential conflicts of interest.
Publication Notice and Disclaimer
The information contained in this article is current as at the publication date. At the time of publishing, the information contained in this article is based on sources which are available in the public domain that we consider to be reliable, and our own analysis of those sources. The views of the author may not reflect the views of the AFSL holder. Any decision by you to purchase securities in the companies featured in this article should be done so after you have sought your own independent professional advice regarding this information and made your own inquiries as to the validity of any information in this article.
Any forward-looking statements contained in this article are not guarantees or predictions of future performance, and involve known and unknown risks, uncertainties and other factors, many of which are beyond our control, and which may cause actual results or performance of companies featured to differ materially from those expressed in the statements contained in this article. S3 cannot and does not give any assurance that the results or performance expressed or implied by any forward-looking statements contained in this article will actually occur and readers are cautioned not to put undue reliance on forward-looking statements.
This article may include references to our past investing performance. Past performance is not a reliable indicator of our future investing performance.