Battery Age Minerals drills up more high-grade lithium at Falcon Lake

There has been no shortage of exploration momentum for Battery Age Minerals (ASX: BM8) as the company delivers another set of ‘highly encouraging assay results’ from its drilling campaign at the Falcon Lake Lithium Project in Ontario, Canada.

The latest batch of assays confirms the presence of significant shallow mineralisation in a further 15 holes that have now been laboratory tested. The holes all intersected significant grades of spodumene mineralisation, including:

• 27.6 metres @ 1.37% Li2O from 16.65m down-hole

• 21.92 metres @ 1.44% Li2O from 5.7m down-hole

• 26 metres @ 1.00% Li2O from 46.3m down-hole

For context, high-grade lithium is typically considered to be grades of 1.0% Li20 or more.

The results build on the success of Falcon Lake’s maiden drilling campaign back in late July, which hit intercepts such as 27.6 metres at 1.37% Li20 from a 16.7 metre down-hole.

“These results continue to confirm that we have significant mineralisation across many holes and in multiple locations across the property,” said Managing Director Gerard O’Donovan. 

Source: Battery Age Minerals

More to come

Battery Age has drilled 57 holes for 6,462 metres to date with assays received for 38  holes,  all of which have returned significant lithium mineralisation.

A further 19 holes are currently awaiting assay and expected to be available within 6-8 weeks.

Testing a pipeline of high priority targets

“We are also excited about the high-priority targets that have been generated for the drill rig as part of the summer fieldwork programme which is ongoing at site,” said O’Donovan.

“This fieldwork has given us a fantastic platform to continue drilling during the winter months across the 5km of mineralised corridor, building further on these recent discoveries.”

Drilling efforts to date have mainly focused around historical lithium occurrences within the Falcon West and East. But recent exploration success and fieldwork data will push drilling to new areas across the 5 km corridor.

Last month the company successfully raised $6.4 million to support the continued aggressive exploration of Falcon Lake, including up to 15,000 metres of drilling. The raise leveraged the ‘follow-through shares’ provisions under Canadian tax law, which priced new shares at 46 cents per share or an 11% premium to pre-raise prices.

DISCLAIMER: Market Index helps small-cap ASX listed companies connect with Australian investors through clear and concise articles on key developments. Battery Age Minerals was a client at the time of publishing. All coverage contains factual information only and should not be interpreted as an opinion or financial advice.