More spodumene intercepts at its Brazilian lithium project

Today, LRS announced that it has intersected more spodumene bearing pegmatites in both drillhole no 5 and 6.

In our last note we wrote that the results from drillhole four would start to prove out whether or not a spodumene structure is getting bigger across its project. Today LRS announced that in that particular hole LRS returned ~36m of cumulative pegmatite intercepts with one intercept alone measuring ~17m.

LRS also confirmed that both holes five and six also made pegmatite interceptions with hole six still ongoing.

All of this means LRS has now put together a ~500m section of its total ~1.5km strike zone, confirming spodumene bearing pegmatite intercepts across the entire 500m southern section of the prospective strike zone.

Finally, LRS confirmed that the assays from drill holes one and two are expected within the next few weeks.

If those assays confirm the presence of high grade lithium across the structure then we think LRS will be in a strong position to potentially tick off objective #1 in our 2022 Investment Memo of putting together a maiden JORC resource for its Brazilian lithium project.