Astute Metals (ASX:ASE) is preparing for a reverse circulation drilling program at the group’s Red Mountain Lithium Project in Nevada, US, as part of the company’s strategy to undertake a maiden resource estimate.
The maiden resource is anticipated to be delivered at the end of 2025, upon completing a 16-hole for 3,680m drilling program. The program, beginning next month, has been designed to prioritise infill drilling of the northern part of Red Mountain.
Astute, which has a market capitalisation of $10.66 million, says targeted areas include the north and multiple lenses of the central Red Mountain Project, with the aim to test for mineralisation down to 200m below surface.
The southern and western areas of Red Mountain will remain as upside for future exploration drilling.
Chairman Tony Leibowitz says the program aims to expand the current known limits of the mineralisation and underpin a maiden resource.
“Red Mountain is shaping up as a transformational opportunity, and we look forward to defining what we believe will be one of the highest grade US lithium projects, providing the catalyst for a significant uplift in value,” Leibowitz says.
Astute intends to submit a notice of intent to the Bureau of Land Management for permitting approval in the coming days.
Drill contractor Major Drilling is expected to arrive at the Needles Gold Project in the US, with a reverse circulation drill rig within three weeks to begin drilling. The Needles’ program is anticipated to take eight to 14 days to complete, after which the rig will mobilise directly to Red Mountain.
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 mineral explorer focused on discovering and developing deposits of critical metals required for electrification and the global energy transition.
Write to Aaliyah Rogan at Mining.com.au
Images: Astute Metals
