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Latin Resources eyes spodumene in all intercepts

Published: 17:00 22 Feb 2017 EST

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Spodumene bearing pegmatite

Latin Resources (ASX:LRS) has visually confirmed that 11 of 13 drill holes in the current program contain significant spodumene pegmatite intercepts and all intercepts contain visible spodumene.

First pass exploration drilling is nearing completion at two of the first four targets at the 100% owned Ancasti Lithium Project in Catamarca, Argentina.

The apparent thicknesses of the pegmatite intercepts range from 1-9 metres and the intercepts range in depth from 9-47 metres.

Chris Gale, managing director, commented: “The extension of strike and thickness of intercepts of the pegmatites is extremely encouraging for our Catamarca project.

“The visible spodumene in all intercepts is even more encouraging this is now proving our theory that we do have lithium spodumene at depth at these historical lithium mines.”


Drilling update

Drilling is targeting an initial four targets in Ipizca II, Reflecto De Mar, Campo el Abra and Santa Gertrudis.

First pass exploration reverse circulation drilling at Ipizca II was completed last week and is nearing completion at Reflejos del Mar.

A total of thirteen holes for circa 800 metres has been drilled to a range of final depths of between 24 -126 metres.

Ipizca II

At Ipizca II five holes were completed for circa 400 metres. All holes intercepted the pegmatite dyke that is exposed at surface within an old open pit and tunnel system.

A thinner blind pegmatite was also intercepted from 9-11 metres in hole number IPIIRC003.

Follow up drilling is necessary to define the northern and down dip extents of mineralisation.

Reflejos del Mar

At Reflejos del Mar, eight holes have been completed for circa 400 metres.

Drilling is showing that the pegmatites continue at depth to the east and extend further along strike to the north beyond the mapped outcrop in the old open pit workings.

Drilling is continuing to extend the mineralisation to the north and to the east down dip.


Analysis

The positive preliminary drilling results from the first two targets, Ipizca II and Reflecto de Mar, provide confidence moving forward to the next two targets.

That being said, these 4 targets represent only 8% of the company’s total landholding of 70,000 hectares at Catamarca.

Latin Resources has ample opportunities for discovery given the large scale of untested exploration ground throughout its Argentinian lithium projects.

Assay results are expected before the end of February.

Shares are trading up over 50% through 2017, currently priced at $0.019.

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