Asian Battery Metals (ASX:AZ9) has identified lithium-bearing pegmatite at the Tsagann Ders Project in Mongolia from recent scout drilling and surface sampling.
The drilling program consisted of four drillholes, covering a total of 250m, with 203 samples collected.
Assays include 8.1m @ 0.73 lithium oxide from 6.4m, including 4.1m @ 1.06% Li2O from 10.4m as the highest intercept reported.
Exploration was conducted to provide initial information of sub-geology, with scout drilling focused on the southern end of the project.
Drilling is intended to follow up trench excavation work conducted in 2023, while samples were collected to date the age of lithium-bearing pegmatite and host granite.
The company awaits age confirmation from samples collected to determine the ages of the lithium-bearing pegmatite.
The lithium price has seen a 116.36% increase year-on-year, and is currently trading at ¥168,000 ($34,284) per tonne, Trading Economics reports.
Located in a rural district in the Dundgobi province of Mongolia, the Tsagann Ders Project is wholly owned by Asian Battery Metals and is prospective for lithium mineralisation.
The company believes the project has potential to deliver between 4% and 6% of lithium oxide concentrate in Li-Mica.
Asian Battery Metals is focused on exploration and the development of projects.
The company is presenting at the RIU Explorers Conference in Fremantle, Western Australia being held 17-19 February. Mining.com.au is an official media partner of this year’s event.
Write to Paige Furner at Mining.com.au
Images: Asian Battery
