Key Take Away: Future Battery Minerals Ltd reports an encouraging expansion of the Kangaroo Hills Lithium Project. The initial assay results from their Phase 3 drill program confirm a significant near-surface lithium pegmatite presence, especially at Big Red and Rocky prospects.
Within the verdant terrains of Western Australia, the Kangaroo Hills Lithium Project, managed by Future Battery Minerals Ltd (ASX: FBM), is gaining prominence. The recent Phase 3 drilling results have provided a promising glimpse into the lithium-rich ground, further solidifying FBM’s strategy.
The company has reported significant assay outcomes such as:
For those unacquainted, “pegmatite” is a type of rock enriched with lithium, among other minerals. A high concentration suggests potential for mining operations.
FBM’s Technical Director, Robin Cox, shared his enthusiasm, “The initial set of assays from the recent RC and DD program at Big Red and Rocky have delivered further excellent results and confirms the early visual spodumene observations of this emerging LCT pegmatite system. In particular, the result from KHDD006 at Big Red provides further support to the relative consistency in that area of the system in terms of shallow, thick intervals (+20m) at a high lithium grade (+1.2% Li2O).”
“Recent RC drilling at Rocky (assays pending) has also returned many shallow, substantial intercepts of visual spodumene bearing pegmatites that have significantly increased the scale of this system with assays outstanding. The focus of drilling at Rocky will move shortly to a diamond tail program to commence testing for extension at depth, including the potential for a thickening of mineralisation.”
“In terms of ongoing scout target drilling, we are seeing encouraging early signs at Wallaroo (West) and further drilling is planned to test the identified pegmatites in this area. The grant of final environmental permitting will also allow us to commence drilling north from Big Red, including other attractive combined resistivity/structural target areas such as Western Grey”.
While FBM has been actively targeting the Big Red and Rocky pegmatite systems, they’re also casting an eye on other regional prospects like Wallaroo. Their drilling program is expected to continue into November, targeting potential extensions at Rocky. This involves a DD program to assess potential down-dip extension or thickening at Rocky.
Beyond the immediate results, the broader market implications are clear. As the demand for electric vehicles and renewable energy solutions continues to soar, lithium, a key component for batteries, remains in the spotlight. Future Battery Minerals Ltd’s success in Kangaroo Hills is not just a win for them, but potentially an indication of Australia’s bolstered position in the global lithium market.
However, as always, investors should tread cautiously. While assay results provide scientific data on mineral presence, they don’t guarantee successful mining operations or returns. But for now, the horizon looks like it may hold potential for Future Battery Minerals Ltd.
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