Overview of Astute Metals' Red Mountain Lithium Project

Astute Metals NL (ASX: $ASE) has confirmed a significant lithium discovery at its 100%-owned Red Mountain Lithium Project in Nevada, USA. The final batch of assay results from the inaugural Reverse Circulation (RC) drilling campaign has revealed high-grade mineralisation, with intersections of up to +50m thickness. The project has shown multiple zones of lithium mineralisation, further enhancing its potential.

Executive Commentary on Red Mountain Lithium Project

Astute Chairman, Tony Leibowitz, expressed optimism about the Red Mountain lithium discovery, stating, 'With all results now received from the recent phase of drilling, the potential of the Red Mountain lithium discovery continues to grow. The team has also now completed a detailed geological interpretation of the deposit, which gives us excellent insights into its future commercial potential. Encouragingly, this work has identified multiple zones of lithium mineralization in the south, which also highlights the potential for further significant growth in the size of the mineralized system. We are now looking forward to planning our next program of work and laying the foundations for a maiden JORC Mineral Resource Estimate to quantify the size of this opportunity for our shareholders.'

Summary of Red Mountain Lithium Project

The Red Mountain Lithium Project has demonstrated significant lithium mineralisation, with multiple zones identified, indicating excellent scale and grade potential. The project's geological interpretation has revealed a main prospective stratigraphic zone stretching approximately 4km, with additional subordinate zones of anomalism. The results have been overwhelmingly positive, and the company plans to conduct a maiden diamond drilling campaign, perform initial metallurgical testwork, and consider airborne hyperspectral surveying to identify further zones of clay-rich lithologies. The project's proximity to infrastructure and the presence of outcropping claystone host-rocks further enhance its appeal. Astute Metals aims to build upon the current results and discover additional mineralised horizons, further solidifying the Red Mountain Lithium Project's potential.