Diversified explorer Astro Resources (ASX:ARO) has confirmed ‘highly anomalous’ lithium mineralisation through assays from initial scout drillholes completed at the Polaris Project in Nevada, US.
The company reports the presence of ‘highly’ anomalous lithium in all 3 holes assayed is considered to be an excellent result for the company’s initial foray into lithium clay exploration in Nevada.
Astro reports the increasing lithium grade displayed towards the end-of-hole (EOH) in both PL02 and PL04 is interpreted as ‘highly prospective’ and is also an indication that drilling may have stopped short of a ‘higher-grade’ zone of lithium mineralisation. As a result, Astro says immediate return to drilling at these sites is warranted.
Drillhole PL04 intersected 3.05m @ 140.8 parts per million (ppm) Li from 153.9m to EOH; PL02 intersected 1.52m @ 261ppm Li from 153.9m to EOH; and PL01 intersected 12.2m @ 145ppm Li from 129.5m within a broader Siebert Formation anomalous zone of 68.6m @ 70.1ppm Li.
Astro, which is looking to change its name to Astute Metals pending shareholder approval, reports a re-drill strategy was already under consideration due to the depth of drilling at the initial sites being limited by the drill rig configuration at the time. The company says drilling has now restarted at Polaris to execute this re-drill strategy. Once drilling at Polaris is complete, the company will drill 2 planned holes at the nearby Altair project.
Commenting on the results, Astro Resources Chairman Tony Leibowitz says: “Assay results for the lithium claystone intersections reported in our first 3 holes in May have confirmed the presence of highly anomalous lithium. This is a very positive development for the project as it confirms the lithium-bearing nature of the Siebert Formation in this area, with strong indications that higher grades and thicker mineralised zones may occur nearby.
“This is a very positive development for the project as it confirms the lithium-bearing nature of the Siebert Formation in this area, with strong indications that higher grades and thicker mineralised zones may occur nearby”
This potential will be the focus of the now resumed drilling campaign, which will target thicker zones and extensions of the holes which terminated in strong lithium anomalism.
The team has done a great job getting the drill program underway again, and we are still all looking forward to seeing what this next phase of drilling can deliver for our shareholders over the coming weeks.”
Astro Resources is an ASX-listed, and diversified explorer with a portfolio of assets across Australia and North America. These projects include the Georgina Basin Iron Oxide Copper-Gold Project (IOCG) in the Northern Territory, and the Governor Broome Mineral Sands Project in Western Australia.
In Nevada, the company holds the Needles Gold Project, along with the newly staked Polaris and Altair projects. In the company’s half-year financial report, the company had a cash position of about $2.510 million as of 31 December 2022.
Write to Harry Mulholland at Mining.com.au
Images: Astro Resources Ltd
