Junior explorer Battery Age Minerals (ASX:BM8) has discovered 9 additional pegmatite outcrops at its Falcon Lake Lithium Project in Ontario as its summer fieldwork program kicks into gear.
The company, which has a $29.24 million market capitalisation, says of these new pegmatites, 5 contain visible spodumene ranging from 5% to 20% content.
Further, Battery Age Minerals has uncovered a pegmatite outcrop hosting 15%-20% visible spodumene. This outcrop has been uncovered over a previously unexplored 2.5km eastern section of Falcon Lake and extends the prospective mineralised corridor at the project to 5km.
Battery Age Minerals reports this represents an ‘excellent’ start to its maiden summer fieldwork program.
The company notes surface mineralisation has been confirmed across the entire 5km length of the property, which will undergo continuous exploration.
As a result, additional permitting is expected to be submitted in the coming weeks to enable the continuation of drilling across the entire property. This exploration is intended to focus ‘heavily’ on the 2.5km eastern half of the property.
It is Battery Age Minerals’ belief that the data collected from these additional summer fieldwork activities will play a pivotal role in identifying other potential exploration targets, as well as assist in prioritising them for upcoming drilling campaigns.
Shares in Battery Age Minerals were up 11.84% to $0.42 at 11:20am AEST.
Addressing the discovery, Battery Age Managing Director Gerard O’Donovan says: “This is an exciting development, particularly coming so early in the Summer Fieldwork Program. Summer is the time when we are able to conduct extensive fieldwork to expand the scale of the project by unearthing highly prospective new pegmatite targets for follow-up drilling.
“This is an exciting development, particularly coming so early in the Summer Fieldwork Program”
This significant discovery on the eastern flank of the project has confirmed that the prospective mineralised corridor extends for at least another 2.5km, giving us confidence in the scale of the system we may have at Falcon Lake. We will continue to explore and define additional high-priority targets to strengthen our drilling pipeline into the future.”
Battery Age Minerals is an ASX-listed explorer targeting the growth of its battery metal portfolio through the acquisition of other battery-related tenements worldwide.
The company’s Falcon Lake project is located in Ontario, Canada, and is nestled amongst many other lithium explorers and developers such as Green Technology Metals (ASX:GT1) and Hard Rock Lithium (CVE:RCK).
Battery Age Minerals had $3.2 million cash at hand as of 30 June 2023, according to its latest quarterly report.
Write to Adam Drought at Mining.com.au
Images: Battery Age Minerals Ltd