Astute Metals plans further drilling after uncovering high-grade lithium at Red Mountain
Astute Metals (ASX: ASE) plans to test new areas of potential lithium mineralisation identified in the inaugural diamond drilling campaign at its 100%-owned Red Mountain lithium project in Nevada, USA.
The highlight results came from drill hole RMDD002, which encountered a thick intersection of some of the highest-grade lithium mineralisation seen to date at the project.
Assay results included 86.9 metres at 1,470 parts per million lithium with 0.78% lithium carbonate equivalent (LCE) from 18.3m, as well as an internal high-grade zone grading 32.1m at 2,050ppm lithium with 1.09% LCE from 46.2m.
Immense scale
Chair Tony Leibowitz said the discovery of thick lithium mineralisation in the northernmost drill hole at Red Mountain highlights the immense scale of the project.
“Like all great discoveries, Red Mountain continues to grow and improve the more we drill,” Mr Leibowitz said.
“This drill hole is the latest in a succession of thirteen, all of which intersected strong lithium mineralisation, establishing a solid foundation for a maiden mineral resource estimate to be advanced rapidly in 2025.”
Further potential
Astute has now hit strong lithium mineralisation in all drill holes across a north-south strike extent of more than 5 kilometres, with surface sample geochemistry indicating further potential to the north, south and west of the current drilled extents.
“The manifest scale and high tenor of mineralisation are testament to Red Mountain being one of the most important recent US lithium discoveries,” Mr Leibowitz said
“The identification of substantially higher-grade lithium mineralisation in this hole, as well as that in the previously announced diamond drill hole RMDD001, indicates strong potential for further high-grade zones to be discovered.”
Next round of drilling
The company is finalising geological mapping ahead of planning and permitting for the next round of drilling at the project, which will be conducted at the earliest opportunity in the 2025 field season.
Areas of potential lithium mineralisation identified to the north and down-dip to the east of RMDD002 will be tested in future drill campaigns.
Lithium carbonate – which earlier this month Benchmark Mineral Intelligence priced at approximately $16,300 per tonne – may be used directly in battery production or converted to other battery products such as lithium hydroxide.