Ragusa Minerals Limited (ASX: RAS) has commenced drilling operations at the NT Lithium Project – located in the highly prospective Litchfield Pegmatite Belt in Northern Territory, approximately 120km south of Darwin.
The drilling programme is targeting lithium bearing pegmatites beneath the weathering profile – evident at the Core Lithium Project located to the north.
The company plans to drill up to ~2000m from 21 MMP approved sites, targeting the most prospective pegmatites with a view to defining a maiden mineral resource for the project.
Drilling operations have progressed well and the first drill-hole is already completed, with a very encouraging 35m downhole intercept of pegmatite recorded from 16m depth (below surface). This drill- hole provides beneficial geological reference data to determine pegmatite geometry, with upcoming drill sites targeting to intersect the same pegmatite at the desired vertical depth of ~60m.
The company is awaiting regulatory approval for a variation to the current MMP, to allow additional drilling sites to be included as part of the current drilling programme within the project.
The company is excited to commence the maiden drilling program at our strategic and highly prospective NT Lithium Project. This is a major milestone for the potential continued development of our project within a proven high-quality lithium district,” Chairperson, Jerko Zuvela, said.
“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 1 jurisdiction close to major infrastructure at a time of record lithium prices.”