Future Battery Minerals (ASX:FBM) has kicked off an expanded reverse circulation (RC) drilling program at the Rocky prospect within its Kangaroo Hills Lithium Project in Western Australia.
The $54.64 million market capitalisation company is further testing the ‘highly prospective’ prospect after intercepting spodumene-bearing pegmatites in a recent diamond core drilling program.
Diamond drilling intercepted numerous pegmatites with visible coarse spodumene at the Big Red prospect, including a ‘thick package’ of spodumene pegmatite up to 23.3m in downhole thickness in drillhole KHDD006.
Future Battery reports that all drillholes intercepted pegmatites ranging from 1m to 20.9m in downhole thickness.
The company’s exploration strategy will now follow the strike and dip direction of the mineralised pegmatites to potentially uncover a much ‘larger’ source pegmatite. Under the expanded RC program, Future Battery Minerals will drill for an additional 6,000m.
Commenting on the discovery and ongoing activities, Future Battery Minerals Technical Director Robin Cox says: “Following the outstanding results of the recent RC drilling at the Rocky prospect, which identified multiple stacked pegmatites semi-parallel to the Big Red discovery, our ongoing diamond core drilling has extended the assessment of the prospect.
“This phase of drilling has successfully intercepted numerous pegmatite formations displaying visible spodumene mineralisation“
This phase of drilling has successfully intercepted numerous pegmatite formations displaying visible spodumene mineralisation. These findings are consistent with the modelled stacked system and is further proof we are on track for discovering a significant lithium system.
The RC rig has now returned to the Rocky prospect as part of the company’s expanded exploration program. We are aiming to further test Rocky, specifically targeting the potential extensions and thickening of the mineralised pegmatites.
In addition, the company is conducting further geophysical surveys to identify new regional targets and we look forward to the results of this survey.”
Future Battery has also submitted drilling program of work (PoW) permits within the Kangaroo Hill Timber Reserve, which overlies the untested northern portion of the Big Red, Western Grey, and Quokka prospects.
Phase three drill planning and permitting is also underway for the Nevada Lithium Project, which is anticipated to begin in late September this year.
Future Battery Minerals is a battery minerals-focused explorer that wholly owns the Kangaroo Hills Lithium Project in the Goldfields of Western Australia. As of 30 June 2023, the company had $3.04 million cash and cash equivalents at hand, according to its latest quarterly report.
Write to Aaliyah Rogan at Mining.com.au
Images: Future Battery Minerals
