Astute Metals NL reports high-grade lithium intersections

Astute Metals NL (ASX: $ASE) has announced the results from the second batch of assays for the Red Mountain Lithium Project in Nevada, USA. The assay results for the next four holes, RMRC004-007, have returned high-grade mineralisation, with intersections up to +80m thickness. These results demonstrate thicker intersections than those previously announced, indicating the significant scale and grade potential at Red Mountain.

Executive commentary on Red Mountain project

Astute Chairman, Tony Leibowitz, expressed confidence in the scale and significance of the Red Mountain discovery, stating, 'Our confidence in the scale and significance of this discovery continues to increase with each successful drill-hole at Red Mountain. Assays from the latest four holes have exceeded expectations and returned some very thick, high-grade intercepts which have confirmed robust lithium mineralisation in the middle of the project, between intersections from the discovery holes.' He also mentioned that the final assay results for the remaining four holes will be integrated into an updated geological model for Red Mountain, with a view to expediting the process to achieving a maiden Mineral Resource Estimate.

Summary of Red Mountain lithium project announcement

The second batch of assays from the Red Mountain Lithium Project has revealed high-grade lithium intersections, indicating significant potential for the project. The intersections sit mid-project within 4.6km of strike length drilled to date at Red Mountain. The results demonstrate thicker intersections than those previously announced, with all four holes intersecting +70m zones grading over 1,000ppm lithium. The Company is awaiting outstanding assay results for the remaining four drill holes completed as part of the maiden drill campaign at Red Mountain, which will be integrated into an updated geological model for the project. The presence of outcropping claystone host-rocks and close proximity to infrastructure further enhance the attractiveness of the project. The Company's next steps include conducting a full interpretation of the outstanding assay results and establishing detailed future plans for the Project.