Future Battery Minerals Uncovers High-Grade Gold Lodes at Miriam Project in WA

Future Battery Minerals (ASX: FBM) has reported better than expected results from a 21-hole Phase 1 reverse circulation (RC) drilling program at its Miriam project in Western Australia’s Goldfields.

The company’s share price leapt by more than 70% in early trade after assays from the first batch of 10 holes identified numerous thick, high-grade gold intercepts within shallow oxidised areas.

The returns from the Forrest prospect also identified significant extensional outcomes to known gold zones.

Gold Lode Expanded

Drilling has successfully and substantially expanded a known gold lode to the west, which the company says provides further opportunity to target that lode where it remains open to the north and south.

The highlight gold intersection was 33 metres at 1.57 grams per tonne from 35m downhole, including 16m at 3.10g/t from 44m downhole.

New primary fresh rock gold lodes in the south-west extension of Forrest also intercepted 12m @ 1.56g/t gold from 75m downhole including 1m @ 5.21g/t from 84m downhole.

The company is now awaiting assays from 11 holes drilled at the Canyon prospect (1.5km south of Forrest), which it expects in coming weeks.

Miriam Potential Validated

Chief executive officer Nick Rathjen said the results from the Forrest prospect had validated the company’s belief in the Miriam area and the substantial body of gold-focused exploration work it had put into the project over the past few months.

“This drilling has both confirmed the quality of historical gold lodes and highlighted multiple areas where these lodes offer strong extensional potential.”

Future Battery Minerals is now awaiting the results from Canyon, an untested 1.75km-long structural target located on the same sheared contact that hosts Forrest.

“FBM’s primary goal is to swiftly and methodically build on these Phase 1 results, which will inform future exploration drilling at Miriam,” he added.

Phase 2 Drilling

With the Phase 1 program complete, the company has begun detailed planning for a Phase 2 campaign, which will target further extensions at Forrest, along with regional targets including Canyon, Jungle and Forrest South.

The company sees the follow-up RC drilling as an opportunity to extend the gold mineralisation at Forrest and further test the upside potential of the other gold prospects in the Miriam tenure.

Future Battery Minerals remains well-funded for its planned exploration activities through 2025 and beyond, with a cash balance of A$6.4 million and zero debt as at 30 June 2025.