Impact: Positive
Latin reported drill results from its 100%-owned, flagship Salinas Li-pegmatite project in Brazil. Results included assays from one hole (SADD223) at the Planalto prospect, located ~1.8km SW of the Colina deposit. Highlight intercepts from Planalto included 1.29% Li2O over 16.14m and 1.21% Li2O over 9.25m. Mineralization encountered at Planalto was reported at depth, starting at almost 400m, so we don’t see this being included in the mine plan, at least initially. However, the company believes that this system at Planalto actually extends up dip, toward surface, so there may be potential for shallower mineralization with further drilling. A follow-up diamond drilling program is expected to begin shortly, with the aim of delineating a resource in this area. Overall, we believe these are positive results as it continues to confirm the expansion potential of the Colina deposit further along strike to the SW and along the ~12km-long prospective corridor. Additionally, Latin announced it has submitted its EIA for Salinas and made several key appointments. We are encouraged to see management advancing Salinas to the next stage of its development with a final investment decision expected by the end of 2024.
.
