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

Images: Future Battery 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.