Latin Resources releases encouraging drilling results from Ancasti lithium project

By Trevor Hoey. Published at Apr 13, 2017, in Small Caps

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.

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