Join our daily newsletter At The Bell to receive exclusive market insights
Future Battery Minerals (ASX:FBM) has just uncovered an emerging multi-lode gold system with “extensive oxide and fresh rock mineralisation” at Miriam’s gold-focused Forrest prospects after a project-wide drilling programme.
Listen to the HotCopper podcast for in-depth discussions and insights on all the biggest headlines from throughout the week. On Spotify, Apple, and more.
This content has been prepared as part of a partnership with Future Battery Minerals Ltd and is intended for informational purposes only.
Assays returned from a 24-hole run (22 at Forrest and two more at Forrest South) pointed to the system, which remains open in multiple directions.
Gold mineralisation was also defined along a 500-metre strike, FBM confirmed.
Key Forrest intercepts ranged from 12 metres at 12.18 grams per tonne gold from 48 metres (the highest gram-metre result to date at Miriam) to six metres at 10.76g/t gold within 25 metres at 3.28g/t gold from 119 metres.
There’s no doubt about it, Future Battery’s managing director Nick Rathjen said today: The whole drill phase has been a “resounding success” for the explorer.
“The results are clear,” the Aussie explorer’s helmsman declared. “Forrest represents a much larger, higher-grade gold system than originally anticipated. This dynamic mineralisation system is now interpreted to possess multiple stacked lodes of gold mineralisation with potentially significant strike lengths.”
The market’s loved it all as well, with FBM shares exploding +30% out the gates in Monday morning trade. The explorer has been up 211% YTD, but had stagnated slightly in recent weeks – mostly part of a wider sector dump.
The whole success leaves Future Battery preparing to jump into action, too, Mr Rathjen added, with another phase of drilling now expected to start in late November (likely once all the second-phase results have come in).
The Market Link understands FBM will also be getting results from its follow-up drilling at Canyon in the next few weeks; that will mean more news flow.
On today’s, FBM was selling at 5.6cps at last sale.
Join the discussion. See what HotCopper users are saying about Future Battery Minerals Ltd and be part of the conversations that move the markets.
The material provided in this article is for information only and should not be treated as investment advice. Viewers are encouraged to conduct their own research and consult with a certified financial advisor before making any investment decisions. For full disclaimer information, please click here.
