New Age Exploration (ASX:NAE) has completed a maiden reverse circulation (RC) lithium-caesium-tantalum (LCT) drilling program at its Quartz Hill Project in Western Australia.
Under the program, the $10.76 million market capitalisation company drilled 21 shallow RC holes to test multiple ‘high-priority’ LCT pegmatite targets within the project.
These targets were marked as ‘high-priority’ after surface soil samples were collected and analysed using the UltraFine+ method as part of a Commonwealth Scientific and Industrial Research (CSIRO) project.
New Age Exploration Executive Director Joshua Wellisch says the drilling program was carried out safely and efficiently, which reflects the technical team’s ‘exceptional’ capabilities.
“We are eagerly looking forward to receiving the assay results, which are anticipated in early 2024.”
“We are eagerly looking forward to receiving the assay results, which are anticipated in early 2024″
Alongside the drilling work, New Age completed a passive seismic survey using horizontal-to-vertical spectral ratio (HVSR) technology in the project area. This survey supported the company’s understanding of the depth of the cover to bedrock and other subterranean features.
The Quartz Hill Project sits in the Central Pilbara region of Western Australia.
New Age Exploration is a diversified minerals explorer and developer focused on its assets in the Central and Eastern Pilbara district.
As of 30 September 2023, the company had $3.031 million cash and cash equivalents at hand, according to its latest quarterly report.
Write to Aaliyah Rogan at Mining.com.au
Images: New Age Exploration
