Future Battery Minerals’ Phase 3 drilling increases scale of lithium system at its Kangaroo Hills project
Special Report: Future Battery Minerals has further outlined the prospectivity of its Kangaroo Hills project in WA’s Goldfields region after final assays from Phase 3 drilling returned more lithium intersections.
Kangaroo Hills is just 17km south of Coolgardie and 30km from Mineral Resources’ (ASX:MIN) Mt Marion lithium mine and is regarded by Future Battery Minerals (ASX:FBM) as having the potential to host a lithium deposit of both scale and tonnage.
Since lithium-caesium-tantalum (LCT) pegmatites were discovered at the project in 2022, exploration has outlined the potential scale of its lithium prospectivity, while drilling has consistently returned strong assays that validate the company’s belief in its value.
Earlier results from the Phase 3 drilling have also highlighted the potential of the Rocky prospect to add value to any future development due to its shallow nature and proximity to the Big Red prospect.
Assays from the final 15 holes of the Phase 3 reverse circulation and diamond drilling program have now returned further lithium intersections.
These holes were focused on grid drilling of the Rocky prospect and wide-spaced scout drilling to the east of Big Red, as well as the Eastern Grey and Wallaroo regional targets.
The final batch of results, which included a top hit of 3m @ 1.5% Li2O from 37m, have further increased the scale of the mineralised system, which remains open along strike to the north and at depth.
At Rocky, drilling and recent modelling of the pegmatites has demonstrated a highly continuous mineralised system beginning at shallow depths, albeit thinner and of lower average grade than the standout neighbouring Big Red pegmatite.
“With receipt of the final batch of assays from the Phase 3 program at Kangaroo Hills, we are now sharply focussed on commencing drill testing of the area moving north from the Big Red / Rocky system,” FBM technical director Robin Cox said.
“Critically, the shallow, thick, high-grade lithium mineralisation at Big Red remains wide open along strike to the north and at depth.
“In addition to Big Red Extension, the northern part of the KHLP also offers several other high-potential regional resistivity anomaly targets including Western Grey, Quokka, Big Red West, Big Red North and Western Grey.
“We are excited to drill these northern areas promptly upon receipt of final permitting, with this drilling targeted to commence during the current quarter.”
FBM’s upcoming Phase 4 drilling will focus on the interpreted northern continuity of the shallow, thick, high-grade mineralisation intersected at Big Red.
Heritage and further targeted flora surveys have now been completed at the new untested northern resistivity targets in preparation for drilling, which is expected to start this quarter once drill permitting is received.
Meanwhile, Phase 3 diamond drilling at the company’s Nevada project have extended high-grade lithium mineralisation at depth.
The Nevada lithium project is within the mining hub of Tonopah, which is a premier global mining district and home to other advanced lithium claystone projects such as Ioneer’s (ASX:INR) Rhyolite Ridge, TLC (TSX:LI) and Thacker Pass (TSX:LAC), which is currently under development.
It shares a similar mineralisation style to projects in the region such as Rhyolite Ridge, which has snagged offtake agreements with Ford Motor Company and PPES (joint venture between Toyota and Panasonic).
Assays from the three Phase 3 diamond holes drilled to twin three previous reverse circulation holes at the Lone Mountain prospect have now extended high-grade mineralisation up to a further 37m downhole.
All three holes returned thick, continuous, high-grade intervals, with two remaining within the lithium claystone mineralisation at end-of-hole.
Notable intersections are:
WF23-015C and WF23-011C also returned an uplift in lithium grade when compared to the previously drilled RC equivalents, with a 14% and 7% improvement observed respectively.
The company remains on track to deliver a maiden resource for the Nevada project during the current quarter.
This article was developed in collaboration with Future Battery Minerals, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.