Stelar Metals (ASX:SLB) has begun a 3,000m reverse circulation (RC) drilling program at its Trident Lithium Project in New South Wales.
It marks the first hard rock lithium drilling program taken on by the company at the project.
The $23.33 million market capitalisation company has engaged Bullion Drilling Services to undertake the drilling activities, with a focus on testing beneath the historic lithium mines that have identified ‘major’ lithium-caesium-tantalum (LCT) pegmatites.
Drilling is aimed to be completed by early next month, with assay results anticipated to be returned early next year.
The program is designed to be flexible to allow for an initial assessment of the orientation and morphology of the known lithium-mineralised pegmatites.
Stelar Metals Chief Executive Officer (CEO) Colin Skidmore says the company is glad to be finally testing its interpretations and uncovering the lithium potential of the project.
“This is a significant development for Trident since project acquisition earlier this year, and we look forward to sharing results as they return over the coming months.”
The company notes that the mapping of other pegmatites in the Euriowie pegmatite field is ongoing, aimed at generating targets for a second round of drilling in early 2024.
Stelar Metals is a lithium explorer and developer focused on its Trident project in the Broken Hill region of New South Wales.
As of 30 September 2023, the company had $5.452 million cash at hand, according to its latest quarterly report.
Write to Aaliyah Rogan at Mining.com.au
Images: Stelar Metals