Eastern Resources starts Lepidolite Hill drilling

Eastern Resources (ASX:EFE) has started reverse circulation (RC) drilling at its Lepidolite Hill Lithium Project 8km south-southwest of Coolgardie in the Eastern Goldfields of Western Australia.

Historical drilling discovered thick and ‘high-grade’ lithium-bearing pegmatites at the project. Spodumene-bearing pegmatites also have been identified at Future Battery Minerals’ (ASX:FBM) Kangaroo Hill Lithium project, which is adjacent to the project.

At Lepidolite Hill, outcropping exposure of lepidolite and petalite was mined in the early 1970’s and there is significant potential for further discoveries of lepidolite, petalite and spodumene.

The 48-hole RC drilling program, totalling 5,000m, will be progressed in 3 phases. This drilling program is designed to assess the potential for extensions of lithium-bearing pegmatites, and to target the area between the existing Lepidolite Hill pit and Tantalite Hill, and East of Signal Hill towards Future Battery Minerals’ spodumene-bearing pegmatite at the east of the project.

The Lepidolite Hill Lithium Project is strategically located in the Southern Yilgarn lithium belt. The Project is located some 18km south-southwest of Coolgardie WA, and 32 km west of the Mt Marion Lithium mine.

The project was a historical old lepidolite and petalite mine in the early 1970s. Lepidolite-rich pegmatites are common in the Lepidolite Hill project area. An exploration drilling program conducted by Lithium Australia (ASX:LIT) in 2019 discovered further lithium mineralisation at the project.

Pegmatite horizons were encountered in all drillholes and visual lepidolite and/or petalite and zinnwaldite were recorded in 19 out of the 35 drillholes, with an outstanding result of lithium bearing pegmatite grading 18m @ 1.45% Li2O from 5m within drillhole LHRC023.

Mine stockpiles and limited drilling have confirmed high grade lithium, tantalum, and rubidium. The project has significant potential for further discoveries of lepidolite, petalite, and spodumene.

Eastern Resources’ partner Yongxing Special Materials has strong demand for lepidolite and notes the promising test work completed by Lithium Australia which indicates potential for high recovery of lithium.

The company is also developing the Nowa Nowa Iron project in East Gippsland, Victoria. It has formed a strategic partnership with Ya Hua International Investment and Development Co, a wholly owned subsidiary of Yahua Group – one of the largest Chinese lithium converters – to acquire and develop spodumene projects.

Eastern Resources also has executed a strategic partnership agreement with Yongxing Special Materials Technology Co to acquire and develop lepidolite projects. Yongxing is one of the major Chinese lithium converters using lepidolite concentrates as feed to produce battery grade lithium carbonate.

Write to Adam Orlando at Mining.com.au

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Written By Adam Orlando
Mining.com.au Managing Editor Adam Orlando has more than 20 years’ experience in the media having held senior roles at various publications, including as Asia-Pacific Sector Head (Mining) at global newswire Acuris (formerly Mergermarket). Adam has worked in newsrooms around the world including Hong Kong, Singapore, London, and Sydney.

Lodestar Minerals: Ears to the ground at Earaheedy ahead of upcoming 2024 fieldwork

Lodestar Minerals (ASX:LSR) Managing Director Ed Turner says the company is getting ready to plan a fresh bout of target generation and fieldwork activities across its Earaheedy Project in Western Australia as it awaits the results from its final round of 2023 drilling and soil sampling. As the company continues to uncover gold and copper in Western Australia, Turner says it also enjoys a ‘free ride’ to Future Battery Minerals’ (ASX:FBM) success thanks to its 6% interest in the fellow ASX-listed business.

Lodestar prepares for 2024 Earaheedy exploration work

Lodestar Minerals (ASX:LSR) is gearing up to complete ‘large-scale’ target generation work across its Earaheedy Project in Western Australia as it plans its 2024 exploration programs. 

The base metal and gold explorer will be conducting a thorough review of project data upon receiving fresh assay results from diamond core drilling and 4,650 geochemical soil samples before planning any follow-up work. 

Managing Director Ed Turner says: “We have submitted our final batch of soil samples for this year, which will be part of the large-scale target generation for the 2024 exploration program targeting copper and gold, as well as zinc, lead, and silver.”

“We have submitted our final batch of soil samples for this year, which will be part of the large-scale target generation for the 2024 exploration program targeting copper and gold, as well as zinc, lead, and silver”

The company plans to include geophysical data in its review, which it says can be done in more detail once all drilling data has been collected. 

Meanwhile, Lodestar announced today (20 December) that it has completed a diamond core drilling program at Earaheedy that was designed to follow up on previously reported ‘significant’ gold and copper intersections.

The program comprised 3 diamond core holes for 793.40m and one reverse circulation (RC) hole for 300m. 

Turner says these drilholes have provided the company with geological, mineralisation, and structural information that will support future drill planning. 

Assay results are expected to be returned in late January 2024. 

The Earaheedy Project covers 1,400km-square along the under-explored Earaheedy basin northeast margin in Western Australia. 

Lodestar Minerals is an active base metal and gold explorer with assets in Western Australia. 

As of 30 September 2023, the company had $453,000 cash and cash equivalents at hand, according to its latest quarterly report. 

Lodestar also received $250,000 following the end of the September quarter as a final payment from the sale of its 20% interest in Eastern Coolgardie Goldfields (ECG) to Future Battery Minerals (ASX:FBM). The company also holds 27.5 million shares in Future Battery Minerals as a result of its sale of ECG that it can liquidate to fund company operations if needed.

Write to Aaliyah Rogan at Mining.com.au   

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Written By Aaliyah Rogan
Relocated from the East Coast in New Zealand to Queensland Australia, Aaliyah is a fervent journalist who has a passion for storytelling. When Aaliyah isn’t writing stories, she is either spending time with friends and family or down at the beach.

Future Battery jumps on new Kangaroo Hills targets

Future Battery Minerals (ASX:FBM) is preparing to begin its phase four drilling program in Q1 2024 at the Kangaroo Hills Lithium Project (KHLP) in Western Australia, upon identifying new targets via resistivity survey results. 

The program will include reverse circulation (RC) drilling at the Big Red extension, along with scout testing at the Quokka, Big Red West, Big Red North, and Western Grey prospects. 

Future Battery Minerals, which has a market capitalisation of $36.29 million, reports that results from the optimised resistivity survey over the northern area of KHLP extended the prospective target area to the north of the currently defined Big Red mineralised zone by up to 2.2km north-south. 

Further, the survey highlighted 2 connected prospective resistive anomalies along strike that has been identified as Big Red North. 

Future Battery says these optimised resistivity results deliver new northern drill targets, alongside increasing the confidence in planned drillholes positioning for pre-existing targets.

Technical Director Robin Cox says these results provide the company with additional confidence that the northern extensional drilling of Big Red offers ‘substantial’ upside opportunity to what is already defined. 

“Clear delineation of 2 new, higher order anomalies to the north of Big Red is a significant outcome, in an area which we are now calling Big Red North.

Further, the refinement of pre-existing regional resistivity targets to the north, Western Grey and Quokka allows us to sharpen our drill planning for the initial testing of these highly prospective areas. We are equally excited about testing these high-potential targets.”

Permitting for drilling is advancing for the northern areas of KHLP, drilling of these new identified areas is planned to begin in Q1 2024. 

Future Battery Minerals is a battery minerals-focused explorer with assets in stable pro mining jurisdictions. The company’s assets are considered to be prospective for lithium, nickel, and copper. 

As of 30 September 2023, the company had $5.05 million cash at hand, according to its latest quarterly report.

Write to Aaliyah Rogan at Mining.com.au   

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Written By Aaliyah Rogan
Relocated from the East Coast in New Zealand to Queensland Australia, Aaliyah is a fervent journalist who has a passion for storytelling. When Aaliyah isn’t writing stories, she is either spending time with friends and family or down at the beach.

Future Battery kicks off Nevada Lithium Project drilling

Future Battery Minerals (ASX:FBM) is conducting a 6-hole reverse circulation (RC) drilling program to test the strike extent of the Lone Mountain deposit as part of its Nevada Lithium Project (NLP) in the US. 

The $37.36 million market capitalisation company plans to also test for ‘higher-grade’ zones — more than 1,000 parts per million (ppm) lithium — of this shallow claystone mineralisation at Lone Mountain. 

Drilling is expected to complete the program during December, with assay results to be returned during Q1 2024. 

This news comes after Future Battery completed a 3-hole diamond drilling program which was designed to deliver a maiden Mineral Resource Estimate for NLP, as previously reported

Queensland-based engineering consultants Stantec Consulting has been appointed to conduct the MRE, which remains on track for delivery in Q1 2024. 

Future Battery Minerals Technical Director Robin Cox says the company has extended the known Lone Mountain host formation substantially at depth and the core and samples have provided further accuracy in terms of geology. 

“We believe this deposit progressively shallows as it moves south and the planned RC holes are targeting this potential strike extension.

The resource drilling is set to culminate in a targeted maiden MRE deceleration for the NLP during Q1 CY 2024.”

Future Battery Minerals is an ASX-listed battery minerals explorer focused on discovering lithium, nickel, and copper in stable pro-mining jurisdictions. 

As of 30 September 2023, the company had $5.05 million cash at hand and zero debt according to its latest quarterly report.

Write to Aaliyah Rogan at Mining.com.au    

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Written By Aaliyah Rogan
Relocated from the East Coast in New Zealand to Queensland Australia, Aaliyah is a fervent journalist who has a passion for storytelling. When Aaliyah isn’t writing stories, she is either spending time with friends and family or down at the beach.

Lodestar spins diamond rigs at Earaheedy

Lodestar Minerals (ASX:LSR) is making plans to collect additional samples early in 2024 to underpin the drilling of new target areas at its Earaheedy Project in Western Australia.  

In the lead-up to this work, the $8.09 million market capitalisation company has begun a maiden 1,000m diamond drilling program at Earaheedy to follow up on some ‘significant’ reverse circulation (RC) gold and base metal intersections reported earlier this month.

Key RC results included hole LERC012 with 8m @ 1.05 grams per tonne (g/t) gold (Au) from 44m, including 4m @ 1.73g/t Au; hole LERC008 with 8m @ 0.74g/t Au from 8m; hole LERC017 with 12m @ 0.1% copper (Cu) from 40m; and hole LERC012 with 2m @ 0.24% zinc (Zn) from 160m.  

Lodestar reports the new diamond drilling has been designed to test the depth and strike extensions of mineralised intervals and the orientation of the mineralisation and stratigraphy.

The company plans to drill 4 diamond core holes for roughly 1,000m within Zone 1, 4, and 5. 

Lodestar says the drilling is expected to be completed in 2-3 weeks, with assays scheduled to be received in January to early February 2024. 

Meanwhile, the company notes it has completed 4,650 samples over 2023, and it expects to receive the final assays from these samples in January 2024. It plans to use the assays to define new copper-gold, gold, and zinc-lead-silver targets across its tenure.

Lodestar Minerals Managing Director Ed Turner says the company believes the Earaheedy Project has the potential to host multiple copper-gold deposits. 

“Our geological model, which has gold and copper being associated along the presence of volcanic sills within the sedimentary piles, has similarities to the high-grade VMS copper-gold DeGrussa deposit, which occurs within the region in the same aged sedimentary rocks of the Bryah Basin.” 

“Our geological model … has similarities to the high-grade VMS copper-gold DeGrussa deposit, which occurs within the region in the same aged sedimentary rocks of the Bryah Basin” 

Lodestar Minerals is an active metal and gold explorer. Its asset portfolio comprises the wholly owned Earaheedy, Jubilee Well, and Coolgardie West projects in Western Australia and the Ned’s Creek joint venture (JV) Project.  

The Earaheedy Project holds a ‘major’ strategic landholding comprising over 1,400km-square on the northern margin of the prospective Earaheedy Basin. 

As of 30 September 2023, Lodestar Minerals had $453,000 cash and cash equivalents at hand, although it has since received an additional $250,000 as the final payment of its cash consideration component from the sale of its 20% interest in Eastern Coolgardie Goldfields (ECG) to Future Battery Minerals (ASX:FBM). 

The company currently holds 27.5 million shares in Future Battery Minerals that can be liquidated to fund its operations.

Write to Adam Drought at Mining.com.au

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Written By Adam Drought
Born and raised in the UK, Adam is a sports fanatic with an interest in Rugby League and UFC/MMA. When not training in Muay Thai and Brazilian Jiu Jitsu, Adam attends Griffith University where he is completing his final year of a Communication & Journalism degree.

Future Battery increases size of Kangaroo Hills system

Future Battery Minerals (ASX:FBM) has expanded its initial metallurgical testwork program at the Kangaroo Hills Lithium Project in Western Australia. 

The $45.89 million market capitalisation company says the expanded program will include additional sample analysis on discrete HLS and flotation work streams. 

Metallurgical and engineering consultant Minsol Engineering will be conducting the testwork, with full results expected to be received in Q1 2024. 

This news comes after Future Battery completed its phase three drilling program at Kangaroo Hills, which returned more shallow, ‘high-grade’ lithium intercepts. 

‘Significant’ new assay results from the Rocky prospect include hole KHRC114 with 4m @ 1.37% lithium oxide (Li2O) from 25m; and hole KHRC094 with 1m @ 1.85% Li2O from 8m and 1m @ 1.42% Li2O from 14m.

Drilling conducted at Rocky to date has defined a ‘highly’ continuous mineralised system at shallow depths, although thinner and of ‘lower’ average grade than the Big Red prospect. 

Future Battery reports assay results from Big Red include hole KHRC145 with 8m @ 0.91% Li2O from 34m, including 5m @ 1.21% Li2O from 37m. 

The company notes that both of these prospects are expected to form a ‘significant’ part of any future development plans at Kangaroo Hills. 

Future Battery Minerals Technical Director Robin Cox says the latest batch of assays have ‘significantly’ increased the overall size of Kangaroo Hills’ system and contributes to future development scenarios at the project. 

“With the completion of the phase three program at Kangaroo Hills, our focus now turns to the potential of the area moving north from the Big Red and Rocky pegmatites. 

Both these systems remain wide open to the north — and at depth — and several other regional target areas to the north demand prompt testing, including the highly prospective Western Grey zone. We expect to be drilling in these northern areas upon receipt of final permitting.”

Both of the Big Red and Rocky prospect system’s remain open along strike to the north and at depth. 

The Kangaroo Hills project is a hard rock lithium discovery in the Goldfields region of Western Australia. 

Future Battery Minerals is a lithium, nickel, and copper explorer focused on discoveries in stable pro mining jurisdictions. 

As of 30 September 2023, the company had $5.05 million cash at hand and zero debt, according to its latest quarterly report.

Write to Aaliyah Rogan at Mining.com.au   

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Written By Aaliyah Rogan
Relocated from the East Coast in New Zealand to Queensland Australia, Aaliyah is a fervent journalist who has a passion for storytelling. When Aaliyah isn’t writing stories, she is either spending time with friends and family or down at the beach.

Lodestar to tackle diamond drilling at Earaheedy

Lodestar Minerals (ASX:LSR) has scheduled a 1,000m diamond core drilling program for mid-November after uncovering ‘significant’ gold, copper, and base metal mineralisation at its Earaheedy Project in Western Australia. 

The $10.11 million market capitalisation company says the ‘highly encouraging’ results come from an initial reverse circulation (RC) drilling program at Earaheedy. This drilling work supports Lodestar’s geological model and the ‘strong’ potential for multiple mineralised systems to exist at the project. 

Key results include hole LERC012 with 8m @ 1.05 grams per tonne (g/t) gold from 44m, including 4m @ 1.73g/t gold; hole LERC016 with 8m @ 0.11% copper from 76m; and hole LERC015 with 4m @ 0.29% zinc from 20m. 

The company reports that the RC drilling comprised 22 holes for 3,900m, designed to follow up on ‘significant’ gold and copper intersections from previous first-pass aircore (AC) drilling, as reported on 2 August this year.

Lodestar has moved forward with a downhole electromagnetic (DHEM) survey work utilising the RC holes ahead of the planned diamond drilling program. The survey work is aimed at detecting potential conductors indicative of nearby massive copper sulphide mineralisation. 

The diamond drilling is designed to test the orientation and structural controls of gold and copper mineralisation in conjunction with any DHEM conductors identified. 

Lodestar adds that infill and regional soil sampling programs are still ongoing to test for copper and zinc mineralisation and standalone gold deposits.      

Lodestar Minerals Managing Director Ed Turner says the new RC results further confirm the prospectivity of the Earaheedy project for gold and base metal mineralisation.

“The significant gold, copper, and zinc intersections justify diamond core drilling, which will commence in mid-November. Whilst these composite samples are encouraging, we are expecting the single-metre intervals will likely display even higher grades. 

“Whilst these composite samples are encouraging, we are expecting the single-metre intervals will likely display even higher grades”

Our initial drilling campaigns have clearly shown the project has the potential to host multiple mineralised systems, namely a high-grade VMS copper-gold DeGrussa style deposit, as well as stand-alone gold deposits. Soil sampling is also underway between the drilled areas which have never been tested previously with geochemistry.”  

Lodestar Minerals is a Western Australian base metal and gold explorer focused on its wholly owned Earaheedy and Coolgardie West projects, as well as its Ned’s Creek joint venture (JV) Project. 

Lodestar Minerals had $453,000 cash and cash equivalents at hand as of 30 September 2023, according to its latest quarterly report, although it has since received an additional $250,000 as the final payment of its cash consideration component from the sale of its 20% interest in Eastern Coolgardie Goldfields (ECG) to Future Battery Minerals (ASX:FBM). 

The company currently holds 27.5 million shares in Future Battery Minerals that can be liquidated to fund its operations.

Write to Adam Drought at Mining.com.au

Images: Lodestar Minerals
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Written By Adam Drought
Born and raised in the UK, Adam is a sports fanatic with an interest in Rugby League and UFC/MMA. When not training in Muay Thai and Brazilian Jiu Jitsu, Adam attends Griffith University where he is completing his final year of a Communication & Journalism degree.

IMARC: Lodestar laying foundations for 2024 exploration and discovery

Lodestar Minerals (ASX:LSR) is looking to round off 2023 with diamond drilling as it lays the foundations for its planned 2024 exploration and discovery work in Western Australia.

Speaking to Mining.com.au on the sidelines of the International Mining and Resources Conference (IMARC) on day 2 (1 November 2023), Managing Director Ed Turner says drilling should be underway by mid-November and completed by early December, once assays from previous aircore (AC) and reverse circulation (RC) drilling programs are received. 

Results are expected to be announced as early as next week. 

“We did 5,000m of drilling and discovered copper and gold across 5 of the 7 targets that we drilled which are under sand cover in the Earaheedy Basin. That was very early encouragement, and so we followed that up with 4,000m of reverse circulation (RC) drilling that we completed during the interim. This is rapid progress.

We are hoping to not only follow up on the copper and gold hits from AC and RC drilling but hopefully give us that structural information that we currently don’t have.

That will really help us plan more targeted drill programs within the area we are currently drilling for next year. But at the same time, we are also doing a lot of soil geochem outside of that area and the rest of the project area that hasn’t been tested, and that includes the zinc-lead-silver targets.”

Turner tells this news service its upcoming work will be the last wave of exploration before the company takes a break over the summer season to interpret results and data to design its battle plans heading into 2024. 

He notes that the company remains fully funded to undertake its current exploration plans, but work in the new year isn’t as clear just yet. 

“We are fully funded for our current exploration programs, but we don’t know what the exact programs for next year are going to be yet, so we will review that over the summer. We do have access to $3 million worth of Future Battery Minerals (ASX:FBM) shares, which we can sell if need be.”

The MD says if all goes well, Lodestar will return to IMARC in 2024 with a potentially ‘significant’ Earaheedy discovery under its wing. 

“Hopefully by this time next year we will have made a significant copper and/or gold discovery, or even a zinc-lead-silver discovery at Earaheedy. We think that is possible in the timeframe, you never know how long exploration is going to take, and we do have a very large land package, but we are very encouraged by the early results we have seen from our 2 drilling programs so far. 

“Hopefully by this time next year we will have made a significant copper and/or gold discovery, or even a zinc-lead-silver discovery at Earaheedy

We believe we are on the right track and [a discovery] could happen anytime next year.”

Mining.com.au is an official media partner of IMARC.

Lodestar Minerals is an active Western Australian base metal and gold explorer focused on the Earaheedy Basin, one of Western Australia’s most underexplored and prospective base metal provinces.

Write to Adam Drought at Mining.com.au

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Written By Adam Drought
Born and raised in the UK, Adam is a sports fanatic with an interest in Rugby League and UFC/MMA. When not training in Muay Thai and Brazilian Jiu Jitsu, Adam attends Griffith University where he is completing his final year of a Communication & Journalism degree.

Future Battery Minerals flags leadership shift

Future Battery Minerals (ASX:FBM) Executive Chairman Mike Edwards has assumed the role of Non-Executive Chairman as Nick Rathjen begins his tenure as Managing Director and CEO. 

The $45.89 million market capitalisation company says Edwards has been ‘instrumental’ in leading the company through a ‘significant’ restructuring and subsequent transition into a lithium-focused company. 

Future Battery notes that Edwards represents a key part of its leadership team, and he will continue to lead the board in a non-executive capacity as the company ‘rapidly’ advances its Kangaroo Hills and Nevada lithium projects in Western Australia and Nevada, US, respectively. 

Future Battery Minerals believes both these projects have the potential to be ‘world-class’ deposits. 

This latest management change follows the departure of company Non-Executive Director Paul Brown last week (11 October 2023) and comes only 24 hours after the company flagged a lithium pegmatite swarm at the Big Red and Rocky prospects within its Kangaroo Hills Project.

A fresh diamond drilling program is now scheduled to begin in November this year at Kangaroo Hills to test potential down-dip extension/thickening. 

Future Battery Minerals is a lithium, nickel, and copper explorer that currently holds a portfolio of projects being driven towards development and production. 

The Kangaroo Hills Project is located in Western Australia and is wholly owned by Future Battery Minerals after the company acquired the remaining interest from its former joint venture (JV) partner, Lodestar Resources (ASX:LSR), as reported on 11 August this year. 

Future Battery Minerals had $3.04 million cash and cash equivalents at hand as of 30 June 2023, although it raised an additional $7.6 million in September through a placement to accelerate exploration at both the Kangaroo Hills and Nevada projects.

Write to Adam Drought at Mining.com.au

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Written By Adam Drought
Born and raised in the UK, Adam is a sports fanatic with an interest in Rugby League and UFC/MMA. When not training in Muay Thai and Brazilian Jiu Jitsu, Adam attends Griffith University where he is completing his final year of a Communication & Journalism degree.

Future Battery flags Kangaroo Hills lithium pegmatite swarm

Future Battery Minerals (ASX:FBM) is looking to begin a fresh diamond drilling program at its Kangaroo Hills Lithium Project in November after confirming the existence of a near-surface lithium pegmatite swarm. 

The $56.08 million market capitalisation company says this swarm has been uncovered at the Big Red and Rocky prospects following an expanded phase three reverse circulation (RC) and diamond drilling program. 

The company reports hole KHDD006, which was drilled at Big Red and returned 22m @ 1.24% lithium oxide (Li2O) from 23m, is ‘particularly significant’ as it confirms the relative consistency of the Big Red system with respect to thickness and grade. 

Other key results include hole KHRC057 with 8m @ 1.08% Li2O from 40m; and hole KHRC089 with 6m @ 1.03% Li2O from 60m. Both of these holes were drilled at Rocky. 

Assays for a further 43 holes are pending. 

Future Battery Minerals notes these outstanding assays from Rocky represent numerous further extensional intercepts of visual spodumene-bearing pegmatite.

The company says drilling is currently focused on testing the remaining shallow extensions of the Big Red and Rocky pegmatite system, as well as evaluating regional targets. 

Future Battery Minerals’ planned November diamond drilling program will test potential down-dip extension/thickening at Rocky. 

Further drilling of key targets moving north from Big Red, including the regional Western Grey target, is also expected to start once final environmental permitting is granted.     

Future Battery Minerals Technical Director Robin Cox says these recent developments confirm early visual spodumene observations in this ‘emerging’ lithium-caesium-tantalum (LCT) system.   

“The initial set of assays from the recent RC and DD program at Big Red and Rocky has delivered further excellent results and confirms the early visual spodumene observations of this emerging LCT pegmatite system.

Recent RC drilling at Rocky (assays pending) has also returned many shallow, substantial intercepts of visual spodumene-bearing pegmatites that have significantly increased the scale of this system with assays outstanding.”

“The initial set of assays from the recent RC and DD program at Big Red and Rocky has delivered further excellent results and confirms the early visual spodumene observations of this emerging LCT pegmatite system”

This announcement comes following the resignation of company Non-Executive Director Paul Brown last week (11 October 2023). 

The company expects to appoint a new Non-Executive Director to complement its existing board composition.  

Future Battery Minerals is a lithium, nickel, and copper explorer that currently holds a portfolio of projects being driven towards development and production. 

The Kangaroo Hills Project is located in Western Australia and is wholly owned by Future Battery Minerals after the company acquired the remaining interest from its former joint venture (JV) partner, Lodestar Resources (ASX:LSR), as reported on 11 August this year. 

Future Battery Minerals had $3.04 million cash and cash equivalents at hand as of 30 June 2023, although it raised an additional $7.6 million in September through a placement to accelerate exploration at both Kangaroo Hills and its Nevada Lithium Project in the US.

Write to Adam Drought at Mining.com.au

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Written By Adam Drought
Born and raised in the UK, Adam is a sports fanatic with an interest in Rugby League and UFC/MMA. When not training in Muay Thai and Brazilian Jiu Jitsu, Adam attends Griffith University where he is completing his final year of a Communication & Journalism degree.

Sabre uncovers new Cave Hill lithium anomalies

Sabre Resources (ASX:SBR) has identified 3 new ‘key’ lithium-anomalous targets through soil sampling conducted across its Cave Hill Lithium Project in Western Australia. 

The $9 million market capitalisation company says these ‘large’ lithium-in-soil anomalies lie south and along-strike of Future Battery Minerals’ (ASX:FBM) Kangaroo Hills Lithium Project (KHLP). 

All 3 anomalies are in areas of soil and/or alluvial cover and include lithium (Li) values of more than 30 parts per million (ppm) Li, with a peak value of 37ppm Li. 

Sabre is continuing to conduct further sampling on the largest tenement at Cave Hill, E15/1844, which is interpreted to contain extensive greenstone sequences under soil/alluvial cover. This area has never been tested for lithium, nickel, and gold. 

Sabre Resources Chief Executive Officer (CEO) Jon Dugdale says that this discovery is ‘very encouraging’ and demonstrates that this greenstone corridor has the potential to host ‘major’ lithium deposits. 

“The anomalies lie immediately to the south and within the same greenstone corridor as the Kangaroo Hills lithium-spodumene discovery and on a parallel trend to the Widgiemooltha Belt 25km to the east, which hosts major lithium resources. 

We look forward to the results of further sampling in progress, which is testing greenstone corridors which are prospective for lithium-bearing pegmatites within the 100km strike length of contiguous tenements which the company holds in the area.

An initial 724 auger soil sample results were received from a planned 2,800 sample program across the 5 tenements that make up the 700km-square Cave Hill Project. 

Sabre says Cave Hill’s location within the same belt as Future Battery’s KHLP showcases its ‘significant’ lithium potential.

Sabre Resources is a battery, base, and precious metals explorer and developer with assets in Western Australia and the Northern Territory. As of 30 June 2023, the company had $4.512 million cash at hand, according to its latest quarterly report.

Write to Aaliyah Rogan at Mining.com.au  

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Written By Aaliyah Rogan
Relocated from the East Coast in New Zealand to Queensland Australia, Aaliyah is a fervent journalist who has a passion for storytelling. When Aaliyah isn’t writing stories, she is either spending time with friends and family or down at the beach.

Future Battery launches drilling in Nevada

Future Battery Minerals (ASX:FBM) has begun resource drilling to target lithium clay mineralisation at the Lone Mountain prospect within its Nevada Lithium Project in the US. 

The $58.63 million market capitalisation company plans to complete a combination of diamond and reverse circulation (RC) drilling, with the aim of delivering a maiden Mineral Resource Estimate (MRE) for the project in Q1 2024. 

Drilling will also test an ‘exciting’ discovery made at Lone Mountain, as announced on 13 July 2023. 

A diamond drill rig is now on-site collecting core samples at Lone Mountain. Future Battery says this will provide an accurate control on geology and will further test a number of locations where previous drill techniques failed to reach the planned target depth. 

Core samples taken will also be used for comparative analysis to RC samples and to investigate any potential grade discrepancies between the RC and diamond core sampling techniques. 

Future Battery notes the RC drilling is scheduled to kick off in November this year, following completion of permitting to the south of Lone Mountain, and will cover over 2km of additional prospective strike. 

Commenting on the ongoing exploration activities, Future Battery Minerals Technical Director Robin Cox says: “Future Battery Minerals is excited to be back drilling again in Nevada, where previous programs at Lone Mountain successfully discovered a significant scale of lithium claystone highlighted by the current mineralised east-west strike of 3km and north-south strike of 1.3km, which still remains open to the south for a further 2km. 

The company is now on track towards establishing a maiden MRE at the NLP, and the current drilling program is the crucial next step in achieving this milestone.”

The company is now on track towards establishing a maiden MRE at the NLP”

The Nevada project is 80% owned by Future Battery Minerals and encompasses 4 prospects: Traction, San Antone, Western Flats, and Lone Mountain. Lone Mountain lies near the mining hub of Tonopah in Nevada, US. 

Future Battery Minerals is a battery minerals exploration company focused on its US and Australian assets. The company’s portfolio of assets is prospective for nickel, copper, cobalt, lithium, zinc, and gold. 

As of 30 June 2023, the company had $3.04 million cash at hand, according to its latest quarterly report. On 15 September 2023, the company conducted a placement to raise $7.6 million, and it has received the first tranche of the placement, totalling $5.2 million. 

Write to Aaliyah Rogan at Mining.com.au   

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Written By Aaliyah Rogan
Relocated from the East Coast in New Zealand to Queensland Australia, Aaliyah is a fervent journalist who has a passion for storytelling. When Aaliyah isn’t writing stories, she is either spending time with friends and family or down at the beach.

Future Battery drives ‘aggressive’ lithium exploration

Future Battery Minerals (ASX:FBM) is set to launch fresh diamond drilling at its Nevada Lithium Project in the US within the next 7 days.

It comes as part of the company’s ‘aggressive’ lithium exploration plans across its US and Australian assets. 

In Nevada, the drilling will consist of up to 4 core holes and forms part of a ‘larger’ resource drilling program encompassing wide-spaced reverse circulation (RC) and diamond drilling. 

The $59.19 million market capitalisation company is focusing on the Lone Mountain prospect, where thick shallow lithium claystones have been uncovered over a footprint of 3km by 1.3km and remain open for a further 2km to the south. 

Future Battery is aiming to deliver a maiden Mineral Resource Estimate (MRE) for the Nevada project early next year. 

Meanwhile, at the Kangaroo Hills Lithium Project in Western Australia, a phase three RC drill program is now focusing on the spodumene pegmatite swarm identified at the Big Red and Rocky prospects. 

Future Battery Minerals has drilled 57 RC holes so far, with all assays still pending. The company is also awaiting assays for 6 diamond holes.

Further diamond drilling is planned to test the potential depth extensions of mineralisation pegmatites. 

Baseline environmental Flora and Fauna surveys are currently underway at Kangaroo Hills, which are anticipated to be completed in early November. These surveys are a condition for further permitting in the timber reserve. 

Future Battery notes its early-stage metallurgical testwork is also nearing completion, with results to be returned in late October. The work will form part of a larger ongoing metallurgy study as Kangaroo Hills advances. 

In today’s ASX announcement, the company notes its newly appointed Managing Director Nicholas Rathjen will be entering the role as of 18 October. 

Commenting on the ongoing activities, Future Battery Minerals Technical Director Robin Cox says: “Following the completion last week of the oversubscribed $7.6 million placement from institutional and sophisticated investors, including Hancock Prospecting, the company has wasted no time in advancing exploration activities at its 2 lithium projects at the KHLP and the NLP. 

we are now fully funded with an aggressive, expanded exploration strategy underway aiming to deliver 2 maiden lithium resources in the new year”

These activities signal a big momentum shift for the company, as we are now fully funded with an aggressive, expanded exploration strategy underway aiming to deliver 2 maiden lithium resources in the new year. 

On the corporate front, we are very pleased to announce that our newly appointed MD Nick Rathjen will be joining the company earlier than anticipated from mid-October. With Nick coming on board, we are confident that he will inject the skills and energy to take FBM into this next phase. This is an exciting new chapter for FBM, with significant news and catalysts coming!”

Future Battery Minerals is an ASX-listed exploration company focused on its lithium assets in Western Australia and Nevada, US. 

As of 30 June 2023, the company had $3.04 million cash at hand, according to its latest quarterly report. Subsequent to this, the company launched a $7.6 million share placement, announced on 15 September

Future Battery Minerals has completed the first tranche of this placement to pocket $5.2 million.

Write to Aaliyah Rogan at Mining.com.au  

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Written By Aaliyah Rogan
Relocated from the East Coast in New Zealand to Queensland Australia, Aaliyah is a fervent journalist who has a passion for storytelling. When Aaliyah isn’t writing stories, she is either spending time with friends and family or down at the beach.

Eastern Resources lands Lepidolite Hill PoW approval

Eastern Resources (ASX:EFE) is one step closer to drilling at its 70% owned Lepidolite Hill Lithium Project in Western Australia after landing approval for a program of work (PoW). 

The $9.93 million market capitalisation company says the project is located adjacent to the Kangaroo Hills Lithium Project, which is wholly owned by Future Battery Minerals (ASX:FBM) and where ‘thick’ spodumene bearing pegmatites were recently identified. 

Eastern Resources reports it recently completed systematic mapping at Lepidolite Hill followed by a drilling program targeting the area between the existing Lepidolite Hill pit and Tantalite Hill, and east of Signal Hill towards Future Battery’s spodumene discovery.

Now, the upcoming drill program will test the potential for extensions to the lithium-caesium-tantalum (LCT) pegmatites found at the project, as well as assess the potential for lithium-bearing pegmatites adjacent to the Kangaroo Hills project. 

Drilling is scheduled to begin following the completion of heritage surveys, which are slated for next quarter.     

Commenting on the program of work, Eastern Resources Executive Director Myles Fang says: “We are excited about the upcoming drill program at the Lepidolite Hill Project, which will assess the potential for lithium mineralisation. 

Exploration is planned at a number of high-priority areas, with drilling focused on existing and newly identified prospects at both Signal Hill and Tantalite Hill

Exploration is planned at a number of high-priority areas, with drilling focused on existing and newly identified prospects at both Signal Hill and Tantalite Hill.”

Eastern Resources is an ASX-listed lithium focused explorer and developer that holds 5 lithium assets in Western Australia. 

The company’s Lepidolite Hill project is located in the Southern Yilgarn Lithium Belt, about 18km south-southwest of the township of Coolgardie and 32km west of the Mt Marion Lithium mine. 

Eastern Resources had $5.9 million cash at hand as of 30 June 2023, according to its latest quarterly report. 

Write to Adam Drought at Mining.com.au

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Born and raised in the UK, Adam is a sports fanatic with an interest in Rugby League and UFC/MMA. When not training in Muay Thai and Brazilian Jiu Jitsu, Adam attends Griffith University where he is completing his final year of a Communication & Journalism degree.

Hancock Prospecting backs Future Battery Minerals

Future Battery Minerals (ASX:FBM) has received firm commitments from private investors to raise $7.6 million under a ‘heavily oversubscribed’ share placement. 

The $52.36 million market capitalisation company says the placement will be completed over 2 tranches at an issue price of $0.10 per share. 

Among the institutional, sophisticated, and professional investors taking part in the share placement is Gina Rinehart’s Hancock Prospecting, which has agreed to join Future Battery’s register as a cornerstone investor, committing to invest $2.65 million across the 2 tranches. 

Future Battery Minerals shares have spiked 21.7% to $0.14 as of 10:15am AEST this morning (15 September).

Under tranche one of the placement, 51,950,424 shares will be issued to raise just under $5.2 million. Meanwhile, the second tranche of the placement will issue 23,850,000 shares to raise around $2.385 million. 

Subject to shareholder approval, Future Battery Minerals directors will participate for an amount of $225,000 in tranche 2.

Funds raised from the placement will be used to accelerate exploration activities at the company’s Kangaroo Hills and Nevada Lithium projects. 

At Kangaroo Hills, the funds will be put towards completing a phase three drilling program, ongoing diamond drill testing, and metallurgical and mineralogical assessments on core samples. 

The company adds that the funds will also go towards ongoing target generative surveys and completing baseline environmental surveys at Kangaroo Hills. 

At the Nevada project, the funds will be used towards starting a phase three reverse circulation (RC) and diamond drilling program later this month, initial metallurgical testwork, and delivering a maiden Mineral Resource Estimate (MRE) for the Lone Mountain prospect next year. 

The funds will also be used for general working capital purposes. 

Commenting on the placement, Future Battery Minerals Executive Chairman Mike Edwards says: “We are extremely pleased with the strong support received from both new and existing professional sophisticated and institutional investors, and we welcome Hancock Prospecting Pty Ltd to our register.

The strongly oversubscribed placement not only confirms the quality of our projects but is also validation to the experience and track record of our dedicated teams in Western Australia and Nevada” 

The strongly oversubscribed placement not only confirms the quality of our projects but is also validation to the experience and track record of our dedicated teams in Western Australia and Nevada. 

We now look forward to continuing our exciting journey in the knowledge we are fully funded to accelerate exploration and development at both the Kangaroo Hills and Nevada Lithium projects.”

Future Battery Minerals is a battery minerals-focused exploration company. The company is focused on making discoveries around Australia and in Nevada, US.

Write to Aaliyah Rogan at Mining.com.au     

Images: Future Battery Minerals
Author Image
Written By Aaliyah Rogan
Relocated from the East Coast in New Zealand to Queensland Australia, Aaliyah is a fervent journalist who has a passion for storytelling. When Aaliyah isn’t writing stories, she is either spending time with friends and family or down at the beach.