Accelerate Resources (ASX: $AX8) Quarterly Activity Report highlights

Accelerate Resources Limited (ASX: $AX8) is pleased to present the Company's Quarterly Activity Report for the three-month period ending 31 March 2024. The report highlights the progress made at the Prinsep Lithium Project, including the definition of a continuously mineralised 45-60m wide pegmatite outcrop over 650m length in the northern pegmatite zone with assays up to 1.68% Li2O. The maiden drill program at the Prinsep Lithium Project is rapidly advancing with Heritage surveys commencing in April 2024, and drilling is set to commence immediately post final approvals. Additionally, the company has injected $300,000 cash through the sale of non-core assets.

Executive Commentary on Quarterly Activity

The results of the infill and extensional rock chip sampling program at the Prinsep Lithium Project have been very encouraging, confirming the continuity of lithium mineralisation across the mapped width extent of the main northern pegmatite to 60m. The upcoming geochemical soil sampling program across highly prospective corridors within the greater Karratha Projects is expected to further enhance our understanding of the mineralised pegmatites and assist in identifying new undercover trends. We are also pleased to announce the commencement of the maiden drill program at the Prinsep Lithium Project in May 2024, which will focus on the high-grade and wide northern lithium pegmatite trend, with preparations already underway in anticipation of receiving final permitting.

Summary of Quarterly Activity and Outlook

Accelerate Resources (ASX: $AX8) has made significant progress in the March 2024 quarter, particularly at the Prinsep Lithium Project, where the definition of a continuously mineralised pegmatite outcrop and the upcoming maiden drill program indicate a positive outlook for the company. The cash injection through the sale of non-core assets further strengthens the company's financial position for the upcoming exploration and drilling campaign. With the geochemical soil sampling program underway and the commencement of the maiden drill program scheduled, Accelerate Resources is well-positioned to advance its lithium projects and capitalize on the emerging opportunities within the lithium belt between Karratha and Roebourne, West Pilbara.