- Red Dirt Metals (RDT) strikes its best intercept to date at its Mt Ida lithium project in Western Australia
- The result comes from the Sister Sam pegmatite, where the company uncovered a “fantastic” intercept of 49.5 metres at 1.45 per cent lithium oxide from 387.5 metres
- More than 20 intercepts from Mt Ida are still undergoing lab analysis, with the results expected in the next six to twelve weeks
- Red Dirt plans to complete more than 200 holes for 60,000 metres of drilling over 2023 to follow up on the intercept and test the growth potential of the project
- Shares in Red Dirt Metals are down 2.78 per cent to 52.5 cents at 10:33 am AEDT
Red Dirt Metals (RDT) has struck its best intercept to date at its Mt Ida lithium project in the Eastern Goldfields region of Western Australia.
The result comes from infill drilling at the Sister Sam pegmatite, which focused on sample collection for metallurgical testwork and reverse circulation drill pre-collars.
Here, the company struck its “fantastic” intercept of 49.5 metres at 1.45 per cent lithium oxide from 387.5 metres.
This included 12.2 metres at 1.95 per cent lithium oxide from 389.1 metres and 5.5 metres at two per cent lithium oxide from 405.6 metres.
Red Dirt said it planned to complete more than 200 holes for 60,000 metres of drilling over 2023 in a bid to test the growth potential of the project and increase its understanding of the orebody to fast-track development.
“Red Dirt is focused on starting operations in 2023 and then growing,” Red Dirt Executive Chairman David Flanagan said.
“We will do that by building a great project at Mt Ida and continuing to go hard on exploration.
“The capability of our small team to manage some very intensive campaigns and achieve excellent results as included herein means we will maximise the opportunity for shareholders to benefit from current high prices.”
More than 20 intercepts from Mt Ida are still undergoing lab analysis, with the results expected in the next six to twelve weeks.
Shares in Red Dirt Metals were down 2.78 per cent to 52.5 cents at 10:33 am AEDT.