- Ragusa Minerals (RAS) gears up to launch a maiden drill program at its NT Lithium project near Darwin
- The company has completed site preparations ahead of the drilling work, including access tracks and drill pad clearing
- Additionally, Ragusa took on further reconnaissance and sampling work during the site visit, identifying a new pegmatite along the eastern edge of the project area
- The pegmatite returned a field sample result of 0.21 per cent lithium oxide, which the company says is consistent with a depleted lithium-bearing pegmatite outcrop
- Shares in Ragusa Minerals last traded at 32 cents each on September 26
Ragusa Minerals (RAS) has geared up to launch a maiden drill program at its NT Lithium project near Darwin.
The company has completed site preparation earthworks in the area, including access tracks and drill pad clearing.
Additionally, Ragusa took on further reconnaissance and sampling work during the site visit, identifying a new pegmatite along the eastern edge of the project area.
The pegmatite returned a field sample result of 0.21 per cent lithium oxide, which the company said was consistent with a depleted lithium-bearing pegmatite outcrop.
Further, Ragusa highlighted another field sampling result that returned assays of 2.48 per cent lithium oxide.
Chairman Jerko Zuvelo said the company was in a strong position to rapidly 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.
Ragusa said the continued “positive” field sampling results and the growing number of drill targets in the area gave the company “increasing optimism” for the potential of a major new discovery beneath the superficial weathering surface.
Shares in Ragusa Minerals last traded at 32 cents each on September 26.