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
Images: Future Battery Minerals
