Astute Metals (ASX:ASE) has received further drill results as part of gaining further insights into targeted lithium mineralisation at the Red Mountain Lithium Project in Nevada, US.
Two drillholes, from the April 2025 diamond drilling program, returned multiple intersections of lithium mineralisation, including the widest mineralised intercept returned from the project to date.
Assays include 95m @ 1,340 parts per million (ppm) lithium from 54.9m, including 5.4m @ 2,320ppm lithium from 154m; and 24.3m @ 1,040ppm lithium from 7.6m, including 9.6m @ 1,040ppm lithium.
Managing Director Tony Leibowitz says the intersections demonstrate the project being a “standout compared to the majority of lithium clay projects in the US”.
“The results from these latest two holes continue to affirm the company’s interpretation of a strike extensive and high-grade lithium deposit at Red Mountain returning broad mineralised intercepts that will feed into our planned maiden mineral resource estimate for Red Mountain later this year,” Leibowitz says.
Astute, which has a market capitalisation of $11.74 million, has finalised onsite core processing. The remaining two holes for the campaign have been sampled and are with the laboratory awaiting preparation.
Results for these two holes are expected in July 2025.
Once the results are received, the outcomes of the April drilling campaign will be integrated with previous drill results to inform upcoming drilling plans for H2 2025.
The Red Mountain Project, located in central-eastern Nevada, US, 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 critical mineral deposits required for electrification and the global energy transition.
Write to Aaliyah Rogan at Mining.com.au
Images: Astute Metals
