Astute Metals (ASX:ASE) is preparing to conduct a phase two diamond drilling program at the Red Mountain Lithium Project in the US.
The six-hole for 1,370m drilling campaign, conducted by True North Drilling, is designed to test extensions to the previously defined lithium mineralisation along strike, at depth and under thin alluvial cover.
The program will begin in the second week of April and is expected to be completed within the month. The results will be returned by late May 2025.
Astute, which has a market capitalisation of $18.24 million, says the results will be used to inform hole design for a final drilling campaign in the second half of this year, which in turn is expected to allow for a maiden resource estimate by the end of 2025.
Chairman Tony Leibowitz says drilling aims to expand the current known limits of the mineralisation and guide future resources.
“Given the scale of the recently announced exploration target, the next phase of drilling will aim to infill and extend the deposit, providing a solid platform for a maiden mineral resource estimate later this year,” Leibowitz says.
“Red Mountain is shaping up as a transformational opportunity for our shareholders, and we look forward to defining what we believe will be one of the largest new lithium projects in North America.”
The Red Mountain Project, located in central-eastern Nevada, has broad mapped tertiary lake sedimentary rocks known locally as the Horse Camp Formation.
Astute Metals is a diversified explorer focused on primarily lithium and copper in the US and Northern Territory, Australia.
Write to Aaliyah Rogan at Mining.com.au
Images: Astute Metals
