- Ragusa Minerals (RAS) receives historical drilling results confirming the presence of lithium at the Northern Territory lithium project
- Results from a diamond drill-hole completed at the Tank Hill prospect back in 2019 returned a 25.5-metre pegmatite intercept with logged spodumene and lithium
- Ragusa Chair Jerko Zuvela says the historical results provide “additional confirmatory data for the next phase exploration works”
- Deeper drilling is planned for the coming dry season and planning is also underway for additional exploration to provide better information for drill-hole targeting
- RAS shares are up 4.55 per cent trading at 11.5 cents at 1:38 pm AEDT
Ragusa Minerals (RAS) has received historical drilling results confirming the presence of lithium at the Northern Territory lithium project.
The company received data from a diamond drill-hole completed by May Drilling at the Tank Hill prospect area back in 2019.
The results included a 25.5-metre pegmatite intercept with logged spodumene and corresponding elevated lithium.
Additionally, Ragusa said the surface expression of the pegmatite indicated a 12-metre
true thickness, supported by downhole data.
Testing is planned once access is possible.
Ragusa Chair Jerko Zuvela said the company was encouraged by the historical results which provide “additional confirmatory data for the next phase exploration works”.
“Ragusa is in a strong position to rapidly accelerate lithium exploration at our project within a proven high quality lithium district in a tier one jurisdiction close to major infrastructure at a time of record lithium prices,” Mr Zuvela said.
The Tank Hill Prospect contains at least two thick pegmatite outcrops around 63 metres apart and is one of the priority areas for planned drilling within the current approved mining management plan.
Deeper drilling is planned for the coming dry season and planning is also underway for additional exploration to support drill-hole targeting.
Ragusa is in a tenement farm-in agreement with May Drilling for the exclusive right to earn an initial 90 per cent interest in five tenements in the Litchfield Pegmatite Belt of the Northern Territory.
RAS shares were up 4.55 per cent trading at 11.5 cents at 1:38 pm AEDT.