Battery Age Minerals’ maiden drill run hits high-grade lithium in Canada
The team of ex-Pilbara Minerals explorers have hit high-grade lithium at Falcon Lake.
Source: iStock
Mentioned
KEY POINTS
- Assay results from the first four holes at Falcon Lake have returned grades as high as 1.44% Li20
- Assays are pending for 17 holes, expected in the next 4-6 weeks
- In parallel, the company plans to commence a summer field work programme in the coming weeks
What happens when you band together a team of ex-Pilbara Minerals leaders under a new company called Battery Age Minerals (ASX: BM8), tasked with exploring the prospective Falcon Lake Project in Canada?
You get some high-grade lithium intercepts as part of Falcon Lake’s maiden drilling program.
The initial batch of assays from the first four holes confirmed ‘significant shallow lithium mineralisation’, with intercepts including:
27.6 metres at 1.37% Li<sub>2</sub>0 from 16.7 metres
21.9 metres at 1.44% Li<sub>2</sub>0 from 5.7 metres
26 metres at 1.00% Li<sub>2</sub>0 from 46.3 metres
Generally speaking, a grade of Li<sub>2</sub>0 of 1.0% or higher is considered ‘high grade’.
“The maiden drilling represents the first step in a phased approach at Falcon Lake and it is fantastic to have generated some outstanding results to begin with,” commented CEO Gerard O’Donovan.
To date, 26 holes for 2,693 metres have been drilled with assays pending for 17 holes. The company says visual observations of mineralisation range between 5% to 25%.
Battery Age Minerals shares opened 19% higher to 47 cents as the market opened on Wednesday.
Battery Age Minerals chart (Source: Market Index)
Next steps: More assays plus Phase 2
The maiden ~5000 metres diamond drilling program has approximately 2,300 metres of drilling left. While assays for the pending 17 holes are expected in the next 4-6 weeks.
In parallel, Battery Age plans to begin its summer field work program in the coming weeks. This program represents Phase 2 of its exploration program.
“The second phase which will run in parallel to drilling includes our field exploration campaign. This will commence in the near term, and we are confident it will generate more high-priority targets for the drill rig as we move across the property,” said O’Donovan.
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.
