- Future Battery Minerals (ASX:FBM) is kicking off a resource growth drill run at its Nevada lithium project in the US
- The project is situated within a busy mining district
- FBM is set to launch a maiden JORC in Q1CY24
- The company is targeting southward extensions of mineralisation at Lone Mountain
- FBM shares last traded at 7.2 cents
Geotechs are targeting Lone Mountain, a key prospect of interest on-site, intending to confirm southward extensions.
Lone Mountain is currently a target area some 3 by 1.3 kilometres in size.
The NLP sits near three other projects; two run by Toronto-listed miners and also ASX-listed Ioneer (ASX:INR).
Extension hoped for
Future Battery Minerals is hopeful that southward mineralisation will continue for another two kilometres in that direction.
“We believe this deposit progressively shallows as it moves south and the planned RC holes are targeting this potential strike extension,” FBM Technical Director Robin Cox said.
“They are also designed to test for higher-grade zones (+1,000 ppm Li) within this shallow claystone.”
Low grades but thick hits
The company has previously hit thick intersections of low-grade lithium, including a 179-metre intersection at 766 parts per million (ppm) lithium.
While those concentrations might not blow shareholders out of the water, the relatively shallow depths they were pulled from – at less than 50 metres – make the prospect more attractive, assuming a widespread system.
Today’s RC drill run follows a recently concluded phase three diamond-tipped drill run on-site.
“The resource drilling program is set to culminate in a targeted maiden mineral resource estimate declaration for the NLP during Q1 CY2024,” Ms Cox added.
FBM shares last traded at 7.2 cents.