Battery Age Minerals (ASX:BM8) has discovered a new zone of spodumene mineralisation during its maiden drilling campaign at the Falcon Lake Lithium Project in Canada.
The $25.65 million market capitalisation company says this new ‘highly prospective’ area was identified as part of its summer fieldwork campaign and sits outside of the previously mapped historical occurrences.
Drill intercepts from this new discovery are shallow and from surface in areas, demonstrating the ‘exceptional’ potential to delineate shallow resources at Falcon Lake.
Intercepts returned from the new zone include hole 23FL-059 with 27.45m @ 0.83% lithium oxide (Li2O) from 19.55m downhole, including 12m @1.23% Li2O; hole 23FL-061 with 18.05m @ 1.02% Li2O from 11.95m; and hole 23FL-060 with 7.15m @ 1.06% Li2O from 23.85m.
Commenting on the new area discovered, Battery Age Minerals Managing Director Gerard O’Donovan says: “This is a very promising development, as it is the first time that we have drilled spodumene mineralisation outside of the historical occurrences at Falcon Lake, which is where most of our initial drilling has logically been focused.
We knew when we commenced exploration at the property that we had 3 known mineralised occurrences identified by previous mapping.
“we have proven through our summer fieldwork program and follow-up drilling that this mineralisation extends to new unexplored areas within an extensive 5km long prospective trend”
Now we have proven through our summer fieldwork program and follow-up drilling that this mineralisation extends to new unexplored areas within an extensive 5km long prospective trend. This gives us confidence in the potential scale of the asset and the drilling yet to come.”
Battery Age notes this is the first step-out zone targeted by its exploration team following the completion of field mapping and, with a further 30 mapped pegmatites uncovered as part of the summer program, the team will continue to systematically explore these ‘high-priority’ targets moving forward into the winter drilling campaign.
Falcon Lake is a ‘highly prospective’ lithium exploration property in Ontario.
Battery Age Minerals is focused on the rapid growth of its primary Falcon Lake project.
As of 30 June 2023, the company had $3.2 million cash and cash equivalents at hand, according to its latest quarterly report. On 24 August, Battery Age Minerals announced it was raising $6.4 million via a placement.
Write to Aaliyah Rogan at Mining.com.au
Images: Battery Age Minerals