- Ragusa Minerals (RAS) generates new drill targets after reviewing and confirming historical work within its Northern Territory lithium project
- During its initial reconnaissance site visit, the company confirmed historical high-grade lithium rock chip samples
- It has since completed the planning of its initial drill program, which will target the main known outcropping pegmatite bodies
- Ragusa will utilise an existing approved Mining Management Plan for Exploration (MMP) to drill up to 21 drill holes during the dry season
- Shares in the company last traded at 10 cents on August 10
Ragusa Minerals (RAS) has generated new drill targets after reviewing and confirming historical work within its Northern Territory lithium project.
The company identified numerous high-grade lithium results from historical rock chip samples.
These results were confirmed after Ragusa collected several samples from various locations during its initial reconnaissance site visit.
The company recorded results such as 5.46 per cent lithium oxide, 2.27 grams per tonne (g/t) gold, and 4.59 g/t gold.
Ragusa has since completed the planning of its initial drill program, which will target the main known outcropping pegmatite bodies.
It will utilise an existing approved Mining Management Plan for Exploration (MMP) to drill up to 21 drill holes during the dry season.
Ragusa Chairman Jerko Zuvela said the company was well-placed to accelerate the development of the project.
“We have a significant opportunity to utilise our exploration and development experience to rapidly progress our NT lithium project and realise the massive upside value potential in a Tier One jurisdiction close to major infrastructure at a time of record lithium prices,” Mr Zuvela said.
Shares in Ragusa Minerals last traded at 10 cents each on August 10.