Image of the lithium element.
Source: Adobe Stock Images
The Market Online - At The Bell

Join our daily newsletter At The Bell to receive exclusive market insights

WA-focused lithium explorer Future Battery Minerals (ASX:FBM) is moving quickly to delineate the Big Red pegmatite first identified at its Kangaroo Hill Lithium Project in January, kicking off a Phase 4B drilling program to test its parameters, based on strong results yielded from recent exploration.

Step-out drilling (Phase 4A) was carried out in recent months over Big Red, revealing that the pegmatite had 65 metres of continuity, and with a top intercept of 31 metres at 1.13 percent lithium oxide (Li2O) from 86 metres.

Other results included 29 metres at 1.36 percent Li2O from 38 metres, 27 metres at 1.32 percent Li2O from 64 metres, 23 metres at 1.19 percent Li2O from 44 metres, and 22 metres at 1.24 percent Li2O from 23 metres.

The Phase 4B program will follow this work up with 3,000 metres of reverse circulation (RC) drilling to test the north-easterly extension of the pegmatite, which is shallow, thick and gently-dipping.

Reflecting the fast-moving pace of exploration at Big Red, Future Battery Minerals expected to complete Phase 4B drilling by June, with assays expected later the following month.

Kangaroo Hills is located near Coolgardie in the WA Goldfields, and notably, is only 130 kilometres from Minerals Resources Ltd’s (ASX:MIN) Mt Marion Lithium Mine.

Future Battery Minerals has been trading at 3.9 cents.

fbm by the numbers
More From The Market Online

OD6 Metals rediscovers ultra high-grade Big Jim fluorspar lode

OD6 Metals has rediscovered the historically significant high-grade Big Jim fluorspar lode at its Quinn project…
The Market Online Video

The ASX Today: Aussie market caught between Wall Street records, unstoppable oil – and all on Budget Day

Hello and welcome to HotCopper’s The ASX Today, I’m Seja Al Zaidi.
HotCopper Daily Market Trends Graphic

Tuesday’s HotCopper trends: Elevtra, Metallium, EV Resources, and other daily topics

the S&P/ASX 200 is lower today, dropping 35.20 points or 0.40% to 8,666.60. Bottom performing stocks…

Hazer Group signs MoU to assess Australian energy independence

Hazer Group has entered into a non-binding MoU to assess opportunities for developing low carbon liquid…