Astute Metals NL (ASX: ASE) has stated that assay results from its final four holes from its inaugural Reverse Circulation (RC) drilling campaign at its 100%-owned Red Mountain Lithium Project in Nevada, have returned high-grade mineralization.
Astute chairman, Tony Leibowitz, said: “With all results now received from the recent phase of drilling, the potential of the Red Mountain lithium discovery continues to grow. The team has also now completed a detailed geological interpretation of the deposit which gives us excellent insights into its future commercial potential.”
Assay results from the final batch of samples include the following drill intersections:
- RMRC008: 25.9m @ 1,120ppm Li / 0.60% Lithium Carbonate Equivalent1 (LCE) from 73.2m
- RMRC009: 50.3m @ 908ppm Li / 0.48% LCE from 15.2m 18.3m @ 904ppm Li / 0.48% LCE from 68.6m 13.7m @ 995ppm Li / 0.53% LCE from 99.1m 29.0m @ 1,060ppm Li / 0.57% LCE from 123.4m to End of Hole
- RMRC010: 33.5m @ 1,260ppm Li / 0.67% LCE from 19.8m 30.5m @ 898ppm Li / 0.48% LCE from 74.7m
- RMRC011: 44.2m @ 905ppm Li / 0.48% LCE from Surface 48.8m @ 834ppm Li / 0.44% LCE from 51.8m 13.7m @ 1,260ppm Li / 0.67% LCE from 120.4m end of hole
This final batch of assays, from drill holes located in the south of the project area, demonstrate multiple zones of lithium mineralization, adding to the overall potential of the project. Combined with the previously announced results, these indicate excellent scale and grade potential at Red Mountain, as it continues to emerge as a lithium project of significance in North America.
“Encouragingly, this work has identified multiple zones of lithium mineralization in the south, which also highlights the potential for further significant growth in the size of the mineralized system. We are now looking forward to planning our next programme of work and laying the foundations for a maiden JORC mineral resource estimate to quantify the size of this opportunity for our shareholders.” Added Tony
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