Resource Mining Corporation (ASX:RMI) is preparing an exploration permit application over recently identified lithium pegmatites at its Hirvikallio Project in Southern Finland.
The $19.11 million market capitalisation company recently conducted fieldwork on the project aimed to improve its understanding of the lithium mineralisation, as well as extend the areas containing lithium pegmatites.
Assays have been returned from 22 samples, with grades of up to 4.26% lithium oxide (Li2O) being encountered.
Resource Mining says these results confirm the lithium potential of the project and the company is now completing a detailed analysis of trace element ratios of all the staples taken from the project.
This will help to uncover any additional lithium pegmatites in the area.
Resource Mining Corporation Executive Chairman Asimwe Kabunga says the results confirm the presence of ‘high-grade’ lithium-bearing pegmatite bodies in the central and southern part of the reservation area.
“Trace element studies on the samples taken during the 2022 and 2023 field seasons will increase our knowledge and understanding of the pegmatite system(s) in the Hirvikallio project, and will likely lead to discovering additional high-grade lithium-bearing pegmatites.”
Meanwhile, Resource Mining has also applied for exploration permits at the Kola Lithium Project in the Kaustinen lithium pegmatite province of Finland, which is expected to be granted shortly.
Once granted, drilling will begin as soon as practically possible.
The Hirvikallio project lies on a 165km-square exploration reservation in the Somero-Trammela area of Southern Finland.
Resource Mining Corporation is an Australian minerals company focused on advancing its portfolio of exploration projects prospective for battery metals.
As of 30 September 2023, the company had $1.345 million cash and cash equivalents at hand, according to its latest quarterly report.
Write to Aaliyah Rogan at Mining.com.au
Images: Resource Mining Corporation