Rock chip assays from Astute Metals’ (ASX:ASE) Red Mountain Project in Nevada are in and they have demonstrated the potential for expansion of the lithium horizon to the north.
The samples returned grades of between 2,550 parts per million (ppm) and 4,150 ppm lithium up to 1.4km north of the northern-most drill hole, RMRC0021.
Twenty samples returned grades over 1,000ppm lithium.
Astute says a total of 81 samples collected and assayed reveal the presence of “high-grade” lithium claystone mineralisation in outcropping and sub-cropping claystones at Red Mountain.
This builds on Astute’s understanding of the prospective horizons at Red Mountain and follows a recently completed maiden drilling program.
Results from the first three drill holes returned 59.4m @ 1,300ppm lithium/0.69% lithium carbonate equivalent (LCE) from 73.2m. Results from the remaining eight drill holes are expected to be released in two batches by the end of July.
The results from rock chip sampling now suggest that the targeted lithium horizon extends further north than previously interpreted.
The extended zone will be tested through future drilling at the project.
Chairman Tony Leibowitz says the rock chip results provide further evidence of the scale and potential of Red Mountain.
“We are eagerly awaiting the assays from eight drill holes along the initial 4.6km of strike tested by our recent drilling, with these new rock chip results further extending the prospective horizon to over 6km – adding a significant new area for drill testing later this year,” he says.
“The latest results suggest that Red Mountain could be a very large and significant lithium discovery, and we are looking forward to systematically unlocking its full potential.”
Once Astute has the remaining drill results, it will undertake a full interpretation of both drilling and surface sampling results ahead of mapping out detailed future plans, including follow-up drilling.
Located in central-eastern Nevada, the Red Mountain Project was staked by Astute in August 2023.
The project area has broad mapped tertiary lacustrine (lake) sedimentary rocks known locally as the Horse Camp Formation.
Elsewhere in Nevada, equivalent rocks host large lithium deposits such as Lithium Americas’ (NYSE:LAC) 16.1Mt LCE Thacker Pass Project, American Battery Technology’s (OTCMKTS: ABML) 15.8Mt LCE Tonopah Flats deposit and American Lithium’s (TSX.V: LI) 9.79Mt LCE TLC Lithium Project.
Write to Angela East at Mining.com.au
Images: Astute Metals
