Battery Age Minerals (ASX:BM8) has continued to confirm the presence of ‘significant’ shallow mineralisation in a further 15 holes from its drilling campaign at the Falcon Lake Lithium Project in Ontario, Canada.
These holes all intersected significant grades of spodumene mineralisation, building on the previously reported initial assay results as announced on the 26 of July.
The $30.23 million market capitalisation company says following on from the recent $6.4 million capital raising and outstanding results generated by the ongoing summer fieldwork prospecting campaign, Battery Age will continue drilling through the winter months. During the period it will test the significant pipeline of high priority targets it has identified across the 5km of mineralisation.
Further field exploration work is ongoing including geochemical sampling and ground magnetic surveys.
Following the completion and collation of this data set the company notes it will be able to further refine priority targets and will update the market accordingly as the drilling strategy is developed.
Drilling to date has been mainly focused in and around the historical lithium occurrences Falcon West, Discovery & East but with collated summer fieldwork data and ongoing geological interpretation work which is currently underway new areas will be tested across the 5km of Falcon Main.
Addressing the results, Battery Age Managing Director Gerard O’Donovan says: “These results continue to confirm that we have significant mineralisation across many holes and in multiple locations across the property.
We are also excited about the high-priority targets that have been generated for the drill rig as part of the summer fieldwork program which is ongoing at site.
“This fieldwork has given us a fantastic platform to continue drilling during the winter months across the 5km of mineralised corridor, building further on these recent discoveries“
This fieldwork has given us a fantastic platform to continue drilling during the winter months across the 5km of mineralised corridor, building further on these recent discoveries. This will enable us to continue defining the scale of mineralisation at Falcon Main.”
All holes from the recent drilling for which laboratory assays have been returned contain significant lithium mineralisation with composite highs of 1.45% Li2O over 31.75m in hole 23FL-031 and up to 2.04% Li2O in hole 23FL-018.
The results to date continue to confirm the potential for Falcon Like to host significant mineralisation with assay grades of up to 2.04% Li2O returned over 8.65m (23FL-018).
To date 57 holes for 6462m has been drilled with assays received for 38 holes. A further 19 holes are currently awaiting assay. It is expected that assays for subsequent holes will be available within 6-8 weeks, in accordance with expected turnaround timeframes from the laboratory.
Write to Adam Orlando at Mining.com.au
Images: Battery Age Minerals
