Battery Age Minerals (ASX:BM8) has defined new ‘high-priority’ target areas outside of previous drilling locations at its recently expanded Falcon Lake Lithium Project in Ontario, Canada.
The $21.13 million market capitalisation company says these new targets have been uncovered from surface rock chip sampling work in the project area.
The company says its exploration team will use these sampling results to further define additional targets moving forward.
Battery Age Minerals reports that the results also confirm the presence of mineralisation across the full extent of the Falcon Main property, with multiple locations returning over 2% lithium oxide (Li2O) outside of areas drilled as part of the maiden drilling program. The sampling work returned a peak grade of up to 2.73%
The company notes these results will be used in conjunction with other techniques deployed as part of its Summer Fieldwork Campaign to test greenfield locations that have yet to be drill tested.
This next phase of expansionary drilling will be undertaken during the upcoming winter months.
Battery Age Managing Director Gerard O’Donovan says these results confirm the presence of mineralisation across the Falcoln Main property.
“Considering the limited amount of outcrop encountered across the tenure, it is extremely encouraging to see grades of up to 2.73% Li2O returned from areas which were previously unmapped and have yet to be drill tested.
We also have received some encouraging tantalum and rubidium grades, which we will also use to inform our exploration activities moving forward.
“We are very excited about the potential to unlock significant new discoveries during this next phase of winter drilling given the significantly expanded scope and potential of the Falcon Project as outlined in recent releases”
We are very excited about the potential to unlock significant new discoveries during this next phase of winter drilling given the significantly expanded scope and potential of the Falcon Project as outlined in recent releases.”
Battery Age Minerals is working to grow its primary Falcon Lake Project in Ontario, Canada, as well as its battery metals portfolio, through acquisitions of other battery-related tenements worldwide.
The company’s Falcon Lake project is considered prospective for lithium mineralisation and is supported by key infrastructure.
Battery Age Minerals 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