Battery Age Minerals (ASX:BM8) is working to become a ‘key contributor’ to the critical minerals industry through the advancement of its ‘foundational’ assets in Canada, Austria, and Morocco.
The $22.05 million market capitalisation company says at the Falcon Lake Lithium Project in Ontario, Canada, it has signed early exploration agreements with key First Nation Groups and has completed 7,381m of diamond drilling as part of an initial drilling phase.
This drilling work highlighted ‘thick, shallow, and high-grade’ intercepts, including assays of up to 31.75m @ 1.45% lithium oxide (Li2O) alongside multiple intercepts over 10m in width, as well as mineralisation in the first step-out zone outside of historical occurrences.
A ‘highly successful’ Summer Fieldwork Program followed, which comprised various fieldworks and uncovered over 30 pegmatites mapped by a field exploration team across the full 5km prospective corridor at the project.
The company acquired the Falcon Extension Property earlier this month, consolidating the Falcon Main area and increasing its exploration potential in the area by 69%.
A follow-up exploration program is now scheduled to begin later this month following the start of environmental baseline surveys at the site.
Battery Age Minerals also staked the Jesse Lake Lithium Project earlier this year in Ontario and, since then, has gone on to complete a short summer exploration campaign at the property.
Meanwhile, the company has completed various fieldwork activities at its Tidili Copper Project in Morocco to fuel the delivery of a maiden drill program and the definition of a drilling tender package, which is currently out to market, with a view to executing works before the end of CY2023.
Battery Age Minerals says discussions with Austrian governmental organisations to progress works at its Bleiberg Project are ongoing.
The company currently holds claims adjacent to the historic Bleiberg mine, which has some of the world’s highest germanium grades at 200 grams per tonne (g/t), as well as proven gallium mineralisation of between 90 and 110g/t.
Given both elements are recognised as critical minerals in the European Union (EU), Battery Age Minerals is now a member of the European Raw Materials Alliance — a strategic membership that allows it to collaborate with European end-users seeking reliable, secure, and sustainable access to these commodities.
Battery Age Minerals Managing Director Gerard O’Donovan says drilling in the winter months will mark the end of 2023 as it looks ahead to 2024.
“There has been a significant amount of work and value added to each of our projects since we re-listed on the ASX in February this year.
The substantial progress achieved at our focus asset, Falcon Lake in Canada, has been nothing less than remarkable and is a credit to our team.
“The substantial progress achieved at our focus asset, Falcon Lake in Canada, has been nothing less than remarkable”
While Falcon has been our primary focus, this has not taken our attention away from Tidili or Bleiberg. We have been busily working in the background on these valuable projects, and we look forward to drilling at Tidili by the end of the year, should circumstances permit.
Conversations are also well advanced with our friends in Austria with respect to the formation of a collaborative working group, and we will endeavour to formalise that this year, so we can get on the ground next year as planned.”
Battery Age Minerals is an ASX-listed battery mineral-focused company working to grow its battery metal portfolio through the acquisition of other battery-related tenements worldwide.
The company had $3.2 million cash and cash equivalents at hand as of 30 June 2023, although it raised an additional $6.4 million in August to accelerate a maiden drilling program at Falcon Lake.
Write to Adam Drought at Mining.com.au
Images: Battery Age Minerals
