Battery Age Minerals (ASX:BM8) has made a ‘significant’ new discovery which has further expanded the exploration potential of the Falcon Lake Lithium Project in Ontario, Canada.
The $29.78 million market capitalisation company’s field team identified an additional 21 new pegmatites of which 10 are mineralised.
This discovery brings the total number of pegmatites uncovered over the campaign to 30, with 15 being mineralised.
Samples for all of the mapped pegmatites have been taken and sent to the laboratory for testing, with results expected in 6 to 8 weeks.
Battery Age says this new find confirms the presence of mineralisation outside the Metavolcanic corridor at Falcon Main and provides another target area for the company to explore, moving forward this summer season and into next year.
Along with other additional finds within the Falcon Main area will continue to be explored through drilling over winter.
The company will submit additional permitting in the coming weeks to enable the continuation of drilling across the entire Falcon main property, with an existing permit already in place for a portion of the Falcon North property, including the area where mineralisation has been discovered.
Next summer, the full extent of Falcon North will continue being explored to further define additional targets.
Commenting on this new discovery, Battery Age Minerals Managing Director Gerard O’Donovan says: “This is another fantastic development stemming from the summer fieldwork campaign.
This significant discovery at Falcon North which is located 1.2km from our main focus area at Falcon Main further expands the exploration potential of the Falcon Lake Project.
Coupled with the additional 25 pegmatites identified at Falcon Main, we now have a large quantity of drill targets to test over the winter period and further areas to prospect both this season and next.
We are very excited to keep the rig turning into the winter months and continue to define the broader scale and potential of the Falcon Lake Project.”
Battery Age Minerals is an explorer that is focused on the discovery of battery minerals. The company’s flagship Falcon Lake Lithium Project covers a total of 214 mining claims covering 42.8km-square.
As of 30 June 2023, the company had $3.2 million cash and cash equivalents at hand, according to its latest quarterly report. Post quarter, the company announced it was raising $6.4 million.
Write to Aaliyah Rogan at Mining.com.au
Images: Battery Age Minerals
