Future Battery Minerals Ltd (ASX:FBM) has extended the known mineralisation of its pegmatite targets – and discovered new ones – through a program of reverse circulation drilling at the Kangaroo Hills Lithium Project (KHLP) in Western Australia.
The company was mainly testing northern targets at the project, with extension work at the Big Red target area showing northern continuity, and yielding intercepts such as 31 metres at 1.13% lithium oxide (Li2O) from 86 metres, including 20 metres at 1.43%Li2O from 88 metres; and 12 metres at 1.02% Li2O from 52 metres.
In addition to this, Future Battery Minerals identified a new crop of pegmatites – which will be named Potoroo – through step out drilling 200 metres to the north of the Big Red Extension, with intercepts including 14 metres at 1.04% Li2O from 108 metres; and 8 metres at 0.51% Li2O from 155 metres.
Managing Director and CEO Nick Rathjen said the drilling program had been worth waiting for, given what it indicated about the mineralisation at Kangaroo Hills.
“It is satisfying to have this wait validated with the demonstrated extension of the thick, shallow, high-grade Big Red mineralisation to the north and achieving the best intercept to date at the Project,” he said.
“The drilling of the Big Red Extension has also identified faulting that has altered our interpretation of Big Red’s geometry to the north.
“We believe that the larger Big Red pegmatite (inclusive of Big Red Extension) remains open to the north-east, rather than to the north-north-west coincident with the resistivity feature in this area.
“The resistivity may be highlighting shallower pegmatites in addition to Big Red, such as the newly discovered Potoroo, which will be investigated further in future drill programs.
“The newly discovered pegmatites at Potoroo are also highly significant. Not only do they extend the overall mineralised footprint of the KHLP, but they clearly represent further scale potential at the Project.”
The company is also set to kick off drilling at Big Red’s northeast extension in the next few weeks.
Future Battery Minerals has been trading at 4.9 cents.