Impact: Positive
Latin reported assays from its ongoing ~65,000m drill program at its 100%-owned Salinas Li project in Brazil. Assays were provided from the infill, extension, exploration and deep drilling program at the Colina deposit, as well as the exploration drill program at the recently discovered Fog’s Block target. While infill and extension results from the Colina deposit continue to be in line with previously released results, the new discovery at the Colina Southwest outcrop, as well as results from Fog’s Block are highly encouraging. These results confirm that the mineralized footprint of the Colina system extends for at least 12km to the SW, and further supports the view that the entire corridor could extend up to 26km (to the Salinas South target area which is still to be drill tested; read note). Assays have also confirmed that the Colina deposit could be extended for a further 560m to the SW, as well as at depth, boding very well for future resource estimates. Although drilling remains ongoing with 11 rigs and ~25,000m left to be completed, we look forward to seeing the upcoming PEA (Q3/23) for the Salinas project, which we expect will demonstrate very positive economics in light of the results from the pilot scale, DMS test (read note).
