Join our daily newsletter At The Bell to receive exclusive market insights
- Future Battery Minerals (FBM) reports multiple thick, high-grade assay results from drilling at its Kangaroo Hills lithium project in Western Australia
- The project is owned jointly by FBM and Lodestar Minerals (LSR), which holds a 20 per cent interest in Kangaroo Hills
- The parties have received assays from four high-priority holes, with results including 27 metres at 1.32 per cent lithium oxide from 64 metres
- Assays are still pending for the remaining 23 holes of the phase-two reverse circulation drilling program, while diamond drilling is underway
- Future Battery Minerals is up 4.35 per cent to 12 cents and Lodestar Minerals is down 9 per cent to 0.5 cents at midday AEST
Future Battery Minerals (FBM) has struck multiple thick, high-grade assay results at the Kangaroo Hills lithium project in Western Australia.
The project is held jointly by FBM and Lodestar Minerals (LSR), which holds a 20 per cent interest in Kangaroo Hills.
The parties have received assay results from four high-priority holes drilled as immediate step-outs to the north, south, and east of a hole that previously returned results of 29 metres at 1.36 per cent lithium oxide.
All four of the new holes identified a thick pegmatite unit interpreted to be the same host rock of the high-grade lithium mineralisation.
Results from the new bout of assays included 27 metres at 1.32 per cent lithium oxide from 64 metres, including four metres at 2.5 per cent lithium oxide from 80 metres.
Additional hits included 19 metres at 1.03 per cent lithium oxide from 42 metres.
FBM said new results extended the mineralisation of the previous zone, increasing the strike length to greater than 300 metres and a width of 200 metres.
Assays are still pending for the remaining 23 holes of the phase two reverse circulation (RC) drilling program, which is expected to extend the width and strike of the prospective pegmatite unit.
Meanwhile, diamond drilling (DD) has begun to confirm the orientation of the pegmatite and provide bulk samples for early-stage mineralogical and metallurgical analysis.
“Given the immediate success of the 2023 phase one and phase two RC exploration drilling programs, the company is keen to better understand the mineralogy and metallurgy of this important discovery through the DD program now underway,” FBM Technical Director Robin Cox said.
Future Battery Minerals was up 4.35 per cent to 12 cents and Lodestar Minerals was down 9 per cent to 0.5 cents at midday AEST.
