How Did Latin Resources Confirm the Planalto Prospect Discovery?
Latin Resources Limited
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How Did Latin Resources Confirm the Planalto Prospect Discovery?

Latin Resources' Remarkable Discovery at Salinas: Unveiling a New Era in Lithium Exploration

Latin Resources Limited, a major player in the lithium mining industry, has heralded a new era of exploration and development with the discovery of the Planalto Prospect within the Salinas Lithium Project in Brazil. This article delves into the company's recent operational achievements and outlines its strategic roadmap for 2024, marking significant progress in the lithium sector.

The Emergence of Planalto Prospect: Groundbreaking Discovery

The third major spodumene discovery at Salinas, the Planalto Prospect, has been confirmed by high-grade assay results from drill hole SADD223. Located approximately 1. 8 km southwest of the Colina Mineral Resource Estimate (MRE), this discovery underscores the potential of the Salinas Project to host a world-class lithium resource.

Assay Highlights

The assays from SADD223 revealed significant intercepts, including 9. 25m @ 1.

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21% Li2O and 16. 14m @ 1. 29% Li2O. These results confirm the presence of abundant, coarse-grained spodumene, reinforcing the high-grade nature of this discovery.

Strategic Advancements in 2024: Environmental and Development Milestones

Latin Resources has submitted its Environmental Impact Assessment (EIA) and Report (EIR), collectively known as EIA-RIMA, setting the stage for environmental permitting and mining licensing. This move paves the way for a Final Investment Decision (FID) by Q4 2024.

Key Appointments

The company has fortified its leadership with the appointment of Michael Drake as Vice President of Development. Bringing over 25 years of experience from companies like BHP and Newcrest, Drake's expertise is a valuable asset in driving the Salinas project towards production.

Offtake Progress

The expression of interest for offtake has garnered firm bids from leading mining companies, converters, battery manufacturers, and metals trading houses. This development is a testament to the project's potential and the company's strategic positioning in the lithium market.

Exploration Triumphs at Colina Deposit: Continued High-Grade Results

Further assays from the Colina Deposit have continued to yield high-grade lithium results, reinforcing the deposit's robust nature. Highlights include 17. 84m @ 1. 58% Li2O and 15. 65m @ 1. 60% Li2O.

EIA-RIMA: A Step Towards Sustainability

The EIA-RIMA reflects Latin Resources' commitment to sustainable mining practices, detailing the project's impact on local ecosystems and communities. The public consultation process in 2024 will further involve stakeholders in the project's development.

Looking Ahead: 2024 and Beyond

Latin Resources is gearing up for an exciting year ahead with the planned update of the JORC Mineral Resource Estimate and the completion of the Definitive Feasibility Study (DFS). These milestones are crucial in evaluating the project's economic viability and operational strategy.

The DFS Promise

The DFS, building on the Preliminary Economic Assessment's (PEA) promising results, is expected to highlight the Salinas project's potential as a low-cost spodumene producer. This study will be instrumental in driving the company's growth and success in the lithium market.

Latin Resources Limited is positioned for transformative growth in the lithium sector, with the Planalto discovery marking a significant milestone. The strategic developments in 2024, coupled with the company's commitment to sustainable practices and robust operational plans, solidify its role as a key player in the global shift towards renewable energy resources.

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