Astute Metals (ASX:ASE) has established an exploration target for the Red Mountain Lithium Project in Nevada, US, which the explorer says shows the project’s potential to become significant on the US critical minerals stage.
The exploration target — which has been divided into Target A and Target B — ranges from 1.136 billion tonnes to 1.515 billion tonnes at a range between 785 parts per million lithium and 1,328 ppm lithium.
Target A is the focus of an upcoming exploration drilling program during the first half of this year, while Target B will undergo further surface sampling before exploration drilling in the second half of 2025.
Astute Metals, which has a market capitalisation of $18.85 million, has planned two drilling programs this year, followed by a maiden mineral resource estimate for Q4 2025.
The results from previously conducted work — including soil and rock chip sampling, geological mapping, structural orientation measurements, and drilling results — formed the basis of the exploration target.
Chairman Tony Leibowitz says establishing an initial exploration target demonstrates Red Mountain is a substantial lithium discovery with potential to become a project of significance on the US critical minerals stage.
“The initial exploration target shows the scope to rapidly drill out a substantial part of Red Mountain which we believe could rival some of the biggest lithium projects in North America,” Leibowitz says.
“The project is located in the tier one mining jurisdiction of Nevada and with the new Trump Administration prioritising fast-tracked permitting and development of domestic critical metal projects, Astute is well-placed to unlock the significant value of this discovery.”
Astute Metals is a diversified mineral explorer focused on critical mineral deposits required for electrification and the global energy transition. The company has assets in Nevada, US and the Northern Territory.
Write to Aaliyah Rogan at Mining.com.au
Images: Astute Metals
