Astute Metals NL (ASX: ASE) has received outstanding rock chip assay results of up to 2,190ppm lithium from sampled claystone at the recently staked 100%-owned Red Mountain Lithium Project in Nevada, USA.
A total of 36 samples were taken at Red Mountain, targeting claystone and other outcropping to subcropping rock types to characterise the Project’s potential for lithium mineralisation.
Recently reported soil sampling results revealed a large-scale zone of anomalism stretching over 8km strike and up to 2.8km width. The rock-chip results reported in this announcement demonstrate the presence of strongly mineralised claystones underlying this anomaly, with multiple samples grading above 500ppm lithium.
Based on the strength of the soil and rock-chip results, Astute is now focused on designing and permitting an initial drill campaign at the highly prospective Red Mountain Project to test key targets. The Company is aiming to have drillholes permitted by the end of the calendar year, with the intention of commencing drilling as soon as seasonal conditions allow following the Nevada winter.
“Our field work programmes at Red Mountain continue to highlight the Project’s exceptional prospectivity for claystone-hosted lithium mineralisation, with these rock-chip results indicating the presence of strongly mineralised claystones extending over a broad area,” Executive Chairman, Tony Leibowitz, said.
“We’re very much looking forward to getting scout drilling underway at Red Mountain as soon as weather permits to provide a more definitive test of this potential.”
Background
Located in central eastern Nevada, the Red Mountain Project was staked in August 2023 following a desktop project generation exercise and subsequent on-ground reconnaissance conducted in May 2023. The project area has broad mapped tertiary lacustrine (lake) sedimentary rocks known locally as the Horse Camp Formation, and regionally as part of the Ts3.
Elsewhere in the state of Nevada, the Ts3 hosts large lithium deposits such as the 15.8Mt LCE (lithium carbonate equivalent) Tonopah Flats deposit1 and the 9.79Mt LCE TLC Lithium Project.
After staking was completed, Astute completed an 819-point soil sampling campaign that revealed strong lithium anomalism in soils, with grades of up to 1,110ppm lithium and a coherent 50ppm+ anomaly that stretched over 8km strike and up to 2.8km width.
Other attractive characteristics include outcropping claystone host-rocks and close proximity to infrastructure, including the Project being immediately adjacent to the Grand Army of the Republic Highway which links the regional cities of Ely with Tonopah, close to the Company’s existing Polaris and Altair Projects.
The results of the rock chip sampling reveal the presence of strongly mineralised claystone, with 10 claystones grading on average 1,102ppm lithium, ranging from 132-2,190ppm lithium. As a relatively soft rock type, claystones at Red Mountain do not tend to outcrop, but are rather covered by 30cm or so of soil and decomposed claystone, which had to be removed prior to sampling. Other rock types that were sampled include limestone, various felsic volcanic rocks, breccias and undifferentiated sedimentary rocks, which typically yielded lower lithium grades than the claystones.
The recessive nature of the claystone means that more claystone may be present than is immediately apparent, with the harder rock types presenting as outcrop and the claystone being hidden by a shallow veneer of soil.
Next Steps
Together, the soil sampling and rock-chip sampling results from Red Mountain reveal a compelling target for exploration drill testing. The company is now finalising its interpretation of all results and planning an initial scout drilling campaign to test the lithium soil anomalism in a number of strategic locations at the Project.
Once final hole designs have been completed, the company will submit a Notice of Operations to the Nevada Bureau of Land Management (BLM) in order to permit the disturbance required for drilling. The company expects to have permitting approved and a bond in place by the end of the calendar year, with a view to mobilising a drill rig to test the holes once seasonal conditions permit, towards the end of Q1 2024.
