Introduction to Astute Metals NL
Astute Metals NL (ASX: ASE) has announced the assay results from the first of six holes completed as part of its diamond drilling campaign at the 100%-owned Red Mountain Lithium Project in Nevada, USA. The results show significant lithium mineralization, indicating a promising discovery.
Key Highlights of the Discovery
The key highlights of the discovery include:
- Outstanding lithium mineralization returned in assays for diamond drill-hole RMDD003.
- The hole intersected 32.4m @ 3,260ppm Li from 57.2m, including 8.6m of ultra-high-grade mineralization @ 5,060ppm Li from 67.7m.
- The discovery marks the highest-grade lithium intercept recorded to date at Red Mountain.
- Mineralization was successfully extended 630m north of the previous northernmost intersection in hole RMDD002.
- The hole ends in lithium, with mineralization remaining open down-dip to the east and along strike to the north.
Significance of the Discovery
The thick zones of lithium mineralization encountered in the northernmost drill-hole at Red Mountain highlight the increasing scale of the project. Strong lithium mineralization has now been intersected in all drill-holes, spanning a north-south strike extent of over 5.6km. Surface sample geochemistry indicates further potential to the north, south, and west of the current drilled extents.
Background of the Red Mountain Project
The Red Mountain Project is located in central-eastern Nevada, adjacent to the Grand Army of the Republic Highway (Route 6). The project area has broad mapped tertiary lacustrine (lake) sedimentary rocks known locally as the Horse Camp Formation. Equivalent rocks in the state of Nevada host large lithium deposits, such as Lithium Americas’ Thacker Pass Project and American Battery Technology Corporation’s Tonopah Flats deposit.
Previous Drilling Campaigns
Astute has completed substantial surface sampling campaigns at Red Mountain, which indicate widespread lithium anomalism in soils and confirmed lithium mineralization in bedrock with some exceptional grades of up to 4,150ppm Li. A total of 13 RC and diamond drill holes have been drilled at the project for a combined 1,944m, prior to this current drilling program. These campaigns were highly successful, intersecting strong lithium mineralization in every hole.
Results of the Current Drilling Campaign
Hole RMDD003 successfully intersected three zones of lithium mineralized clay-bearing mudstones and sandstone, separated by narrow zones of unmineralised rocks. The intersections are as follows:
- 13.8m @ 1,330ppm Li / 0.71% LCE from 39.6m to 53.4m.
- 32.4m @ 3,260ppm Li / 1.74% LCE from 57.2m to 89.6m.
- 23.3m @ 1,610ppm Li / 0.86% LCE from 94.4m to End-of-hole (117.7m).
Conclusion
The results of the current drilling campaign at the Red Mountain Lithium Project are highly promising, indicating significant lithium mineralization. The discovery has the potential to be a major lithium deposit, with mineralization remaining open down-dip to the east and along strike to the north. Further drilling and exploration are needed to fully determine the extent of the mineralization and to advance the project towards a maiden JORC Mineral Resource Estimate.
