Astute Metals signals major potential of Red Mountain with high-grade lithium strikes
Astute Metals (ASX: ASE) has identified multiple high-grade lithium intersections in assay results from four new holes in a maiden reverse circulation (RC) drilling campaign at its Red Mountain Lithium Project in Nevada, USA.
The second batch of assays is from drill holes located centrally within the group and demonstrates thicker intersections than those previously announced, with all four holes intersecting over 70 metre zones grading more than 1,000 parts per million lithium.
Chair Tony Leibowitz said the latest results indicate the scale and grade potential at Red Mountain as it continues to emerge as a project of significance in North America.
Exceeded expectations
“Our confidence in the scale and significance of this discovery continues to increase with each successful drill hole at Red Mountain,” Mr Leibowitz said.
“Assays from the latest four holes have exceeded expectations and returned some very thick high-grade intercepts, which have confirmed robust lithium mineralisation in the middle of the project between intersections from the discovery holes.”
“With final assay results expected for the remaining four holes shortly, data from all holes will then be integrated into an updated geological model for Red Mountain with a view to expediting the process to achieving a maiden mineral resource estimate.”
Red Mountain program
Located in central-eastern Nevada, the Red Mountain project was only staked by Astute in August 2023.
The current drilling program was designed on the results of an initial 819-point soil sampling campaign that revealed strong lithium anomalism, with grades of up to 1,110ppm lithium and a consistent 50+ppm anomaly that stretched over a strike 8km long and up to 2.8km in width.
Rock chip sampling, undertaken in several campaigns, has revealed the presence of strongly-mineralised claystone of grades up to 4,150ppm lithium.
A total of 11 holes were drilled for a combined 1,518m as part of the maiden RC drilling campaign, which targeted lithium clay mineralisation in zones of strong soil and/or rock chip anomalism with a view to understanding the thickness and grade potential of the project.
Results received to date from the campaign confirm the discovery of subsurface lithium mineralisation over a broad 4.6km strike length at Red Mountain.