Latin Resources Ltd (ASX: LRS) announced high-grade lithium discovered at Salinas Lithium Project
Latin Resources Ltd (ASX: LRS) announced that the first assay results from drilling at the Salinas Lithium Project in Brazil, have confirmed that the previously reported spodumene rich pegmatites contain high-grade lithium with a peak grade of 3.22% returned from one sample. These positive assay results at the Salinas Lithium Project in Brazil are growing Latin’s confidence of a potential new, high-grade lithium discovery.
Following the announcement, shares in Latin Resources Ltd jumped 25% to $0.095/share.
When a mining company announces a new resource discovery it’s exciting times for shareholders.
A lot of capital goes into exploration and when a new deposit is found there’s usually a share price boost.
Discovery is the reward stage for investors, particularly of junior mining stocks, searching for undiscovered deposits of natural resources.
When discussing new resource discoveries it’s beneficial to know the difference between greenfield and brown exploration.
Greenfield exploration is looking for mineral deposits in areas that have not been explored.
In brownfield exploration deposits are being sought near or next to an already existing mine.
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