ASX-listed exploration company Astro Resources (ASX:ARO) is continuing to advance its lithium strategy with the procurement of 2 ‘highly prospective’ landholdings in Nevada.
The new lithium project areas are located in the southern extent of Nevada’s Montezuma Valley, south-west of the township of Tonopah. The company reports that these projects have been pursued after a systematic review of regional open file data such as, mapped geology, topography, stream sediment geochemistry, land administration, and an assessment of suitable claim-free areas.
The Polaris and Altair projects are adjacent to outcropping tertiary sedimentary host rock units which are recognised to host claystone lithium deposits around Nevada including Ioneer’s (ASX:INR) DFS-stage Rhyolite Ridge Project, and Lithium America’s 16.1 million tonne lithium carbonate equivalent (LCE) Thacker Pass deposit, which is the largest known sedimentary lithium deposit in North America.
The Polaris Project is located in the north covering an area of 14.5km-square, and the Altair Project is in the south covering an area of 27.5km-square, for a total of 509 unpatented mining claims.
Astro announces that the planning for initial drill programs is in its final stages for both projects.
Additionally, founding Chairman of lithium producer Pilbara Minerals (ASX:PLS) Tony Leibowitz has been appointed as Astro’s Executive Chairman, alongside experienced geologist John Young appointed as Astro’s Non-Executive Director, which will further strengthen and enhance the company’s capabilities in its quest for lithium projects in Nevada.
Addressing the appointment, Leibowitz says: “I am tremendously excited to take on an executive role with Astro, with the company holding a high-quality portfolio of exploration assets, including an expanding lithium landholding in North America’s premier lithium district.”
Going forward, Astro’s focus will be on advancing its portfolio of lithium-in-clay projects in Nevada, as well as progressing its Georgina Basin IOCG Project in the Northern Territory and Governor Broome Mineral Sands Project in Western Australia.
“I am tremendously excited to take on an executive role with Astro, with the company holding a high-quality portfolio of exploration assets…”
The company states that planning for the 2023 work program at the Governor Broome Mineral Sands Project has been completed and infill air core drilling is expected to begin in mid-March. The exploration of air core drilling of potential mineralised areas within E70/5872 is expected to begin mid-April with results for both drilling expected by late this year.
Astro’s Scoping Study for the Governor Broome Project will also be executed following the completion of the Jack Track Inferred Resources being upgraded to Indicated Resources. The study is expected to be completed by early 2024.
Astro Resources’ focus is primarily to explore mineral sands, diamond, and gold deposits with its current portfolio located in proven resources jurisdictions of Western Australia and Nevada, US.
Images: Astro Resources Ltd
