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Vancouver, BC TheNewswire - March 11, 2025 Coniagas Battery Metals Inc. (TSXV: COS) ("Coniagas" or the "Company"), is working with Laurentia Exploration to fine tune the next drill program with both infill drilling and step-out holes on the Graal property, the Company's strategically located asset near Saguenay-Lac St. Jean, Quebec.
Prior to drilling, the Company proposes to complete a property-wide airborne mag-EM survey with particular design consideration given to the superconductive nature of the Graal base metal mineralization and with a tighter line spacing over the highly prospective area between the Discovery Zone and the MHY Zone. The data from this survey will provide critical information to guide this and future exploration programs.
Frank Basa, P.Eng. Ontario, President and CEO of Coniagas, stated, "The Graal Property has already delivered exceptional near-surface Copper and Nickel values. With this next phase of drilling, we are confident that additional holes will add lateral and vertical extent enabling known zones to be connected, all while building upon the results within known mineralized zones."
The initial drill plan, a total of 9,500m in 58 holes, is laid out to focus primarily on near-surface mineralization and to extend the best intercepts in the Discovery, MHY and Gravi Zones. Some holes will target untested surface EM anomalies from surveys conducted in the previous program. A total of 1,775 m has been allocated to a more regional approach to confirm historic intercepts peripheral to the main Zones.
Given that the known mineralization is near surface, a program of prospecting with a beep mat has been proposed to test regional extent of mineralization using known Max/Min EM anomaly trends and the airborne geophysics data received to gain a better understanding of the local geology prior to drilling program in those areas.
For Historical and recent exploration results, please see previous news release or the project section on the company website .
Strategic Location:
The Graal property boasts an excellent location north of Saguenay-Lac St. Jean, offering several logistical advantages:
Year-Round Accessibility: The site is road-accessible and drill-ready throughout the year.
Proximity to Infrastructure: The nearby Chute-de-Passe power station provides reliable and cost-effective energy.
Local Industrial Hub: The town of Lac-St. Jean, an industrial hub, offers a skilled workforce and port access to the St. Lawrence River.
Frank Basa, P.Eng. Ontario, President and CEO of Coniagas, stated, " Graal's near-surface mineralization delivers clear economic advantages. Our drill program targets zone expansion while connecting discrete bodies into one unified resource, and the shallow-depth deposit compresses development timelines by years. This benefit is amplified by our existing infrastructure and local skilled workforce ."
Qualified Person
The technical information reported in this news release was reviewed and approved by Maxime Bouchard, Geo, M.Sc. (OGQ #1752), an independent Qualified Person as defined by Canadian NI 43-101 standards. The Qualified Person has not completed sufficient work to verify the historical information on the Property, particularly regarding historical drill results. However, the Qualified Person believes that drilling and analytical results were completed to industry standard practices. The information provides an indication of the exploration potential of the Property but may not be representative of expected results.
About Coniagas Battery Metals Inc.
Coniagas Battery Metals Inc. is a Canadian junior mining company focused on nickel, copper and cobalt and platinum group metals in Québec. Coniagas' strategy is to create value for shareholders through the development of its mineral properties, with the intention to develop Coniagas into a critical metals supplier to the electric vehicle (EV) market.
At its 100% owned Graal project near Saguenay, Quebec, Coniagas has conducted successful exploration involving geophysics as well as shallow drilling that hit mineralization in almost every hole. It has confirmed an open-pit deposit model at Graal along a 6 km strike length of high-grade nickel and copper with cobalt, platinum and palladium byproducts. The Company plans in the near-term to conduct additional drilling leading to the production of a Ni 43-101 resource report, metallurgical testing and consultations with First Nations. The Graal project and immediate work plan are outlined in detail in the "NI 43-101 Technical Report Graal Nickel & Copper Project, Saguenay-Lac-St-Jean, Quebec, Canada" dated January 17, 2024. The report is available along with other information at the Company's website https://coniagas.com/
"Frank J. Basa"
Frank J. Basa, P. Eng. Member of Professional Engineers Ontario
Chief Executive Officer
For further information, contact:
Frank J. Basa, P. Eng. Ontario
Chief Executive Officer
416-625-2342
or:
Wayne Cheveldayoff, Corporate Communications
P: 416-710-2410 E: waynecheveldayoff@gmail.com
You can follow Coniagas on Social Media:
LinkedIn:
X (Twitte r ):
Facebook:
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Caution Regarding Forward-Looking Statements
This news release may contain forward-looking statements regarding Coniagas Battery Metals Inc. ("Coniagas" or the "Company") which include, but are not limited to, comments that involve future events and conditions, which are subject to various risks and uncertainties. Except for statements of historical facts, comments that address the Coniagas trading on the TSX Venture Exchange, resource potential, upcoming work programs, geological interpretations, receipt and security of mineral property titles, availability of funds, and others are forward-looking. No assurance can be given that any of the foregoing will be achieved. Forward-looking statements are not guarantees of future performance and actual results may vary materially from those statements. General business conditions are factors that could cause actual results to vary materially from forward-looking statements. The Company does not undertake to update any forward-looking information in this news release or other communications unless required by law.
Copyright (c) 2025 TheNewswire - All rights reserved.
News Provided by TheNewsWire via QuoteMedia
The presentation will focus on the Graal Project’s near-term plans including areas to be drilled and its longer-term potential as a possible nickel-copper mine with cobalt, platinum, and palladium byproducts. The Company has engaged the services of Laurentia Exploration to design and manage ongoing exploration activities at the Graal property, strategically located near an ocean port at Saguenay-Lac St. Jean, Quebec. (See Feb. 3, 2025 news release .)
Mr. Basa stated, "The prospect of expanding upon known zones and finding new zones containing nickel, copper, cobalt and PGM at Graal is encouraging from the results of the completed drill programs. Numerous drill hole intercepts confirm the potential of Graal property for hosting significant and thick massive sulfides mineralization. We will continue to add to these results within known mineralized zones to increase our understanding while stepping out to expand those zones along the defined trends while exploring for new zones.” (See maps below for NiEq and CuEq calculations and planned areas for drilling, and the Feb. 3, 2025 news release for details and supporting data.)
Currently, the interpreted geological models indicate a potential for a low-grade, large-volume orebody with local and smaller but richer and thicker lenses along a lengthy mineralized trend. This scenario suggests the possibility of having a large, low-grade starter pit that can evolve to underground mining of the rich higher-grade pockets .
Graal Map with nickel equivalent (NiEq) calculations shown
Click Image To View Full Size
Alternative Graal Map with copper equivalent (CuE) calculations shown
Click Image To View Full Size
* For equivalents the prices were taken 2025-01-24 in USD: Cu $9,445.192/tonne, Ni $15,660.10/ tonne, Co $24,299.35/ tonne, Pt $950.00/oz, Pd $1,002.00/oz. Note that the equivilant calculation are for total metal content without consideration for recovery and/or metallurgical losses .
Q ualified Person
This news release has been reviewed and approved by Frank Basa, P.Eng. Ontario, CEO of Coniagas Battery Metals Inc., a qualified person in accordance with National Instrument 43- 101 standards.
The technical information reported in this news release and in the Feb. 3, 2025 news release was reviewed and approved by Maxime Bouchard, Geo, M.Sc. (OGQ #1752), an independent Qualified Person as defined by Canadian NI 43-101 standards. The Qualified Person has not completed sufficient work to verify the historical information on the Property, particularly regarding historical drill results. However, the Qualified Person believes that drilling and analytical results were completed to industry standard practices. The information provides an indication of the exploration potential of the Property but may not be representative of expected results.
About Coniagas Battery Metals Inc.
Coniagas Battery Metals Inc. is a Canadian junior mining company focused on nickel, copper and cobalt and platinum group metals in Québec. Coniagas’ strategy is to create value for shareholders through the development of its mineral properties, with the intention to develop Coniagas into a critical metals supplier to the electric vehicle (EV) market.
At its 100% owned Graal project near Saguenay, Quebec, Coniagas has conducted successful exploration involving geophysics as well as shallow drilling that hit mineralization in almost every hole. It has confirmed an open-pit deposit model at Graal along a 6 km strike length of high-grade nickel and copper with cobalt, platinum and palladium byproducts. The Company plans in the near-term to conduct additional drilling leading to the production of a Ni 43-101 resource report, metallurgical testing and consultations with First Nations. The Graal project and immediate work plan are outlined in detail in the “NI 43-101 Technical Report Graal Nickel & Copper Project, Saguenay-Lac-St-Jean, Quebec, Canada” dated January 17, 2024. The report is available along with other information at the Company’s website https://coniagas.com/
Frank J. Basa, P. Eng. Member of Professional Engineers Ontario
Chief Executive Officer
For further information, contact:
Frank J. Basa, P. Eng. Ontario
Chief Executive Officer
416-625-2342
or:
Wayne Cheveldayoff, Corporate Communications
P: 416-710-2410 E: waynecheveldayoff@gmail.com
You can follow Coniagas on Social Media:
LinkedIn:
X (Twitte r ):
Facebook:
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Caution Regarding Forward-Looking Statements
This news release may contain forward-looking statements regarding Coniagas Battery Metals Inc. (“Coniagas” or the “Company”) which include, but are not limited to, comments that involve future events and conditions, which are subject to various risks and uncertainties. Except for statements of historical facts, comments that address the Coniagas trading on the TSX Venture Exchange, resource potential, upcoming work programs, geological interpretations, receipt and security of mineral property titles, availability of funds, and others are forward-looking. No assurance can be given that any of the foregoing will be achieved. Forward-looking statements are not guarantees of future performance and actual results may vary materially from those statements. General business conditions are factors that could cause actual results to vary materially from forward-looking statements. The Company does not undertake to update any forward-looking information in this news release or other communications unless required by law.
Copyright (c) 2025 TheNewswire - All rights reserved.News Provided by TheNewsWire via QuoteMedia
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Vancouver, BC TheNewswire - February 11, 2025 Coniagas Battery Metals Inc. (TSXV: COS) ("Coniagas" or the "Company"), announces that it has granted stock options to its directors to purchase an aggregate of 500,000 common shares in the capital of the Company. The stock options are exercisable for a term of three years at an exercise price of $0.05 per share. All stock options are granted in accordance with the terms of the Company's Stock Option Plan and the policies of the TSX Venture Exchange and are exercisable immediately.
About Coniagas Battery Metals Inc.
Coniagas Battery Metals Inc. is a Canadian junior mining company focused on nickel, copper and cobalt and platinum group metals in Québec. Coniagas' strategy is to create value for shareholders through the development of its mineral properties, with the intention to develop Coniagas into a critical metals supplier to the electric vehicle (EV) market.
At its 100% owned Graal project near Saguenay, Quebec, Coniagas has conducted successful exploration involving geophysics as well as shallow drilling that hit mineralization in almost every hole. It has confirmed an open-pit deposit model at Graal along a 6 km strike length of high-grade nickel and copper with cobalt, platinum and palladium byproducts. The Company plans in the near-term to conduct additional drilling leading to the production of a Ni 43-101 resource report, metallurgical testing and consultations with First Nations. The Graal project and immediate work plan are outlined in detail in the "NI 43-101 Technical Report Graal Nickel & Copper Project, Saguenay-Lac-St-Jean, Quebec, Canada" dated January 17, 2024. The report is available along with other information at the Company's website https://coniagas.com/
"Frank J. Basa"
Frank J. Basa, P. Eng. Member of Professional Engineers Ontario
Chief Executive Officer
For further information, contact:
Frank J. Basa, P. Eng. Ontario
Chief Executive Officer
416-625-2342
or:
Wayne Cheveldayoff, Corporate Communications
P: 416-710-2410 E: waynecheveldayoff@gmail.com
You can follow Coniagas on Social Media:
LinkedIn:
X (Twitte r ):
Facebook:
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Caution Regarding Forward-Looking Statements
This news release may contain forward-looking statements regarding Coniagas Battery Metals Inc. ("Coniagas" or the "Company") which include, but are not limited to, comments that involve future events and conditions, which are subject to various risks and uncertainties. Except for statements of historical facts, comments that address the Coniagas trading on the TSX Venture Exchange, resource potential, upcoming work programs, geological interpretations, receipt and security of mineral property titles, availability of funds, and others are forward-looking. No assurance can be given that any of the foregoing will be achieved. Forward-looking statements are not guarantees of future performance and actual results may vary materially from those statements. General business conditions are factors that could cause actual results to vary materially from forward-looking statements. The Company does not undertake to update any forward-looking information in this news release or other communications unless required by law.
Copyright (c) 2025 TheNewswire - All rights reserved.
News Provided by TheNewsWire via QuoteMedia
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Vancouver, BC TheNewswire - February 3, 2025 Coniagas Battery Metals Inc. (TSXV: COS) ("Coniagas" or the "Company"), is pleased to engage the services of Laurentia Exploration to design and manage ongoing exploration activities at the Graal property, highlighting the potential of this strategically located asset near Saguenay-Lac St. Jean, Quebec.
Frank J. Basa, President and CEO, stated, "The prospect of expanding upon known zones and finding new zones containing nickel, copper, cobalt and PGM at Graal is encouraging from the results of the completed drill programs. Numerous drill hole intercepts confirm the potential of Graal property for hosting significant and thick massive sulfides mineralization. We will continue to add to these results within known mineralized zones to increase our understanding while stepping out to expand those zones along the defined trends while exploring for new zones."
Historical Exploration Highlights:
The Company is excited to add to the reported excellent drilling results from the MHY, Gravi and Discovery zones, confirming shallow, near-surface mineralization. Certain significant drill intercepts include PGM values added to the equivalents:
MHY Zone : Holes GRL-22-60 and GRL-22-61
GRL-22-60 returned:
28.90 m of 1.88% CuEq *, includes 0.73% Nickel (Ni), 0.41% Copper (Cu), 0.09% Cobalt (Co), 0.04 g/t Platinum (Pt), 0.05 g/t Palladium (Pd)
GRL-22-61 returned:
15.90m of 1.67 % CuEq *, includes 0.53% Ni, 0.56% Cu, 0.08% Co, 0.03 g/t Pt, 0.05 g/t Pd
Gravi Zone : Holes NRC-22-24 and GRL-22-57
GRL-22-57 returned:
8.40 m of 1.91 % CuEq * includes 0.68% Ni, 0.55% Cu, 0.08% Co, 0.08 g/t Pt, 0.03 g/t Pd
NRC-22-24 returned:
33.60 m of 1.11 % CuEq * includes 0.32% Ni, 0.46% Cu, 0.04% Co, 0.03 g/t Pt, 0.02 g/t Pd
Discovery Zone : Holes NRC-21-03 and GRL-22-32
NRC-21-03 returned:
5.70 m of 2.23 % CuEq * includes 0.84% Ni, 0.59% Cu, 0.09% Co, 0.03 g/t Pt, 0.03 g/t Pd
GRL-22-32 returned:
6.40 m of 1.06 % CuEq * includes 0.41% Ni, 0.26% Cu, 0.05% Co, 0.01 g/t Pd
* For equivalents the prices were taken 2025-01-24 in USD: Cu $9,445.192/tonne, Ni $15,660.10/ tonne, Co $24,299.35/ tonne, Pt $950.00/oz, Pd $1,002.00/oz. Note that the CuEq is for total metal content without consideration for recovery and/or metallurgical losses .
Figure 1
Click Image To View Full Size
Next Steps:
The Company has engaged Laurentia Exploration to design and manage the program while continuing the permitting process to be able to expand the near surface zones at Graal. This expansion aims to further delineate the resource potential and enhance the economic viability of the project.
The Company intends on following up on the geophysical anomaly delineated by TDEM surveys on the MHY zone that indicated a large conductive layer interpreted to be approximately 1.7km long with a minimum depth extent of 850m . Due to the nature and extent of the Graal mineralization, this survey returned a strong response to this electromagnetic. The Company plans to use the same method to explore and generate new drill targets between MHY and Discovery Zones. Several BHEM (Borehole electromagnetic surveys) made in the previous drill campaign also reveal several other conductors and extension modelled by Maxwell that need to be tested or delineated.
Currently, the interpreted models indicate a potential for a low-grade, large-volume orebody with local and smaller but richer and thicker lenses along the mineralized trend, as seen in the intersection made in drillhole GRL-22-61. This scenario suggests the possibility of having a large, low-grade starter pit that can evolve to underground mining of the rich higher-grade pockets .
Strategic Location:
The Graal property boasts an excellent location north of Saguenay-Lac St. Jean, offering several logistical advantages:
Year-Round Accessibility: The site is road-accessible and drill-ready throughout the year.
Proximity to Infrastructure: The nearby Chute-de-Passe power station provides reliable and cost-effective energy.
Local Industrial Hub: The town of Lac-St. Jean, an industrial hub, offers a skilled workforce and port access to the St. Lawrence River.
Qualified Person
The technical information reported in this news release was reviewed and approved by Maxime Bouchard, Geo, M.Sc. (OGQ #1752), an independent Qualified Person as defined by Canadian NI 43-101 standards. The Qualified Person has not completed sufficient work to verify the historical information on the Property, particularly regarding historical drill results. However, the Qualified Person believes that drilling and analytical results were completed to industry standard practices. The information provides an indication of the exploration potential of the Property but may not be representative of expected results.
About Coniagas Battery Metals Inc.
Coniagas Battery Metals Inc. is a Canadian junior mining company focused on nickel, copper and cobalt and platinum group metals in Québec. Coniagas' strategy is to create value for shareholders through the development of its mineral properties, with the intention to develop Coniagas into a critical metals supplier to the electric vehicle (EV) market.
At its 100% owned Graal project near Saguenay, Quebec, Coniagas has conducted successful exploration involving geophysics as well as shallow drilling that hit mineralization in almost every hole. It has confirmed an open-pit deposit model at Graal along a 6 km strike length of high-grade nickel and copper with cobalt, platinum and palladium byproducts. The Company plans in the near-term to conduct additional drilling leading to the production of a Ni 43-101 resource report, metallurgical testing and consultations with First Nations. The Graal project and immediate work plan are outlined in detail in the "NI 43-101 Technical Report Graal Nickel & Copper Project, Saguenay-Lac-St-Jean, Quebec, Canada" dated January 17, 2024. The report is available along with other information at the Company's website https://coniagas.com/
"Frank J. Basa"
Frank J. Basa, P. Eng. Member of Professional Engineers Ontario
Chief Executive Officer
For further information, contact:
Frank J. Basa, P. Eng. Ontario
Chief Executive Officer
416-625-2342
or:
Wayne Cheveldayoff, Corporate Communications
P: 416-710-2410 E: waynecheveldayoff@gmail.com
You can follow Coniagas on Social Media:
LinkedIn:
X (Twitte r ):
Facebook:
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Caution Regarding Forward-Looking Statements
This news release may contain forward-looking statements regarding Coniagas Battery Metals Inc. ("Coniagas" or the "Company") which include, but are not limited to, comments that involve future events and conditions, which are subject to various risks and uncertainties. Except for statements of historical facts, comments that address the Coniagas trading on the TSX Venture Exchange, resource potential, upcoming work programs, geological interpretations, receipt and security of mineral property titles, availability of funds, and others are forward-looking. No assurance can be given that any of the foregoing will be achieved. Forward-looking statements are not guarantees of future performance and actual results may vary materially from those statements. General business conditions are factors that could cause actual results to vary materially from forward-looking statements. The Company does not undertake to update any forward-looking information in this news release or other communications unless required by law.
Copyright (c) 2025 TheNewswire - All rights reserved.
News Provided by TheNewsWire via QuoteMedia
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Vancouver, BC September 30, 2024 TheNewswire - Coniagas Battery Metals Inc. ("Coniagas" or the "Company") (TSXV:COS) announces that it has held a second and final closing of its previously-announced non-brokered private placement of units.
At the second closing, Coniagas issued an aggregate of 858,266 units at a price of $0.12 per unit for gross proceeds of approximately $102,992. Each unit is comprised of one common share and one-half of a common share purchase warrant. Each full warrant entitles the holder thereof to purchase one additional common share at a price of $0.15 for five years from the date of issuance.
Of the 858,266 units issued at the second closing, 441,666 units are comprised of a common share that will qualify as a "flow-through share" as defined in the Income Tax Act (Canada) and one-half of a common share purchase warrant, representing gross proceeds of approximately $53,000.
Coniagas issued a total of 4,059,433 units in the private placement for gross proceeds of approximately $487,132. Of the 4,059,433 units, a total of 1,713,666 were "flow-through" units, representing gross "flow-through" proceeds of approximately $205,639.
Coniagas will use the proceeds from the private placement of the "flow-through" units for exploration on the Graal property in Québec as well as for metallurgical test work and will use the net proceeds from the private placement of the non-"flow-through" units for working capital.
In connection with the second closing, Coniagas paid cash finder's fees in an aggregate amount of $3,709.99, being 7% of the proceeds from subscriptions by subscribers identified by finders, and issued an aggregate of 30,916 warrants to finders, representing 7% of the number of units issued to subscribers identified by them. Each of the finder's warrants will entitle its holder to purchase one additional common share of Coniagas at a price of $0.15 for two years from the date of issuance. Coniagas also issued an aggregate of 22,083 common shares to certain finders, representing an amount equal to 5% of the number of units issued to subscribers identified by them.
All securities issued at the second closing are subject to a four-month "hold period" under applicable securities regulations, which will end on January 31, 2025. The private placement is subject to final approval by the TSX Venture Exchange.
About Coniagas Battery Metals Inc.
Coniagas Battery Metals Inc. is a Canadian junior mining company focused on nickel, copper, cobalt, and platinum group metals in Quebec. Our strategy is to create shareholder value through the development of our mineral properties, with the goal of becoming a critical metals supplier to the EV market.
Coniagas has achieved notable success with geophysics and shallow drilling at its 100% owned Graal project near Saguenay, Quebec, consistently hitting mineralization. This success has confirmed an open-pit deposit model along a 6 km strike of high-grade nickel and copper, with cobalt, platinum, and palladium byproducts. Upcoming plans include further drilling, an NI 43-101 resource report, metallurgical testing, and consultations with First Nations. The Graal project and immediate work plan are outlined in detail in the "NI 43-101 Technical Report Graal Nickel & Copper Project, Saguenay-Lac-St-Jean, Quebec, Canada" dated January 17, 2024. The report is available along with other information at the Company's website.
"Frank J. Basa"
Frank J. Basa, P. Eng., Order of Engineers Ontario
Chief Executive Officer
For further information, contact:
Frank J. Basa, P. Eng. Ontario
Chief Executive Officer
416-625-2342
or:
Wayne Cheveldayoff, Corporate Communications
P: 416-710-2410 E: waynecheveldayoff@gmail.com
You can follow Coniagas on Social Media:
LinkedIn:
X (Twitter):
Facebook:
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Caution Regarding Forward-Looking Statements
This news release may contain forward-looking statements regarding Coniagas Battery Metals Inc. ("Coniagas" or the "Company") which include, but are not limited to, comments that involve future events and conditions, which are subject to various risks and uncertainties. Except for statements of historical facts, comments that address the private placement referred to above, resource potential, upcoming work programs, geological interpretations, receipt and security of mineral property titles, availability of funds, and others are forward-looking. No assurance can be given that any of the foregoing will be achieved. In particular, Coniagas cannot give any assurance that it will be able to complete further tranches of the private placement referred to above, either in whole or in part, or that funds will be expended for exploration purposes. Forward-looking statements are not guarantees of future performance and actual results may vary materially from those statements. General business conditions are factors that could cause actual results to vary materially from forward-looking statements. The Company does not undertake to update any forward-looking information in this news release or other communications unless required by law.
Copyright (c) 2024 TheNewswire - All rights reserved.
News Provided by TheNewsWire via QuoteMedia
Key Highlights
Following on from the results announced on 22 April 2025, this second phase of Falcon Beneficiation testwork was designed to concentrate lithium-bearing clay and remove unmineralized gangue (waste) in order to decrease mass and increase lithium grade. In a mineral processing context, a reduction in tonnes and volume processed with an increased head-grade typically results in lower processing costs.
This second Falcon testwork program was conducted by Sepro Laboratories (Sepro) and utilised high- clay drill core samples from hole RMDD002 (which intersected 86.9m @ 1,470ppm Li from 18.3m4). This follow-up test was designed to establish how high-clay material performed using the Falcon method, for comparison with results from the previous test conducted on lower grade mineralisation from Red Mountain.
The latest result indicates a strong ability to upgrade mineralisation, achieving a reduction of sample mass by 51.8% with a concurrent increase in lithium grade of 38% (from 3,245 to 4,481ppm Li), with an overall 66.6% lithium recovery. These results compare favourably with the previous round of testwork, exhibiting both a greater upgrade in lithium and reduction in mass, with a substantial 43% reduction in calcium and carbon (interpreted as calcite removal) expected to result in a significant reduction in acid consumption. The Company has commissioned Attrition Scrubbing testwork – another method of beneficiation – for comparison with the Falcon results. Once complete, sample products from both the Falcon and Attrition Scrubbing tests will be assessed for acid consumption in future leachability tests.
Astute Chairman, Tony Leibowitz, said:“The demonstration of a commercial pathway to a lithium product is the natural complement to the establishment of a Mineral Resource. It is for this reason that Astute has actively advanced workflows for both exploration drilling and metallurgical testing at Red Mountain, in tandem. These positive results, which reinforce the previous results from the project, represent the systematic de-risking of what continues to emerge as an important US- based critical metals project.”
Figure 1. Clay-rich RMDD002 drill-core from 160-165ft (3,280ppm Li) used in Falcon beneficiation testwork.
Background
Located in central-eastern Nevada (Figure 4), adjacent to the Grand Army of the Republic Highway (Route 6), which links the regional mining towns of Ely and Tonopah, the Red Mountain Project was staked by Astute in August 2023.
The Project area has broad mapped tertiary lacustrine (lake) sedimentary rocks known locally as the Horse Camp Formation1. Elsewhere in the state of Nevada, equivalent rocks host large lithium deposits (see Figure 4) such as Lithium Americas’ (NYSE: LAC) 62.1Mt LCE Thacker Pass Project2 and American Lithium (TSX.V: LI) 9.79Mt LCE TLC Lithium Project3.
Astute has completed substantial surface sampling campaigns at Red Mountain, which indicate widespread lithium anomalism in soils (Figure 3) and confirmed lithium mineralisation in bedrock with some exceptional grades of up to 4,150ppm Li1,5.
A total of 19 RC and diamond drill holes have been drilled at the project to date for a combined 3,666m. Exploration drilling has been highly successful, with strong lithium mineralisation intersected in every hole for which assays have been received9.
Scoping leachability testwork on mineralised material from Red Mountain indicates high leachability of lithium of up to 98%, varying with temperature, acid strength and leaching duration, and proof-of- concept beneficiation testwork has indicated the potential to upgrade the Red Mountain mineralisation6,8.
About Beneficiation
The primary purpose of beneficiation is to optimise the value of mineralised material by separating unwanted waste material (gangue) from valuable minerals.
Testwork conducted to date at Red Mountain indicates that clay-hosted lithium mineralisation may be upgraded through beneficiation, which seeks to remove coarser grained material, such as particles of sand, that do not contain appreciable lithium8. Successful beneficiation can result in reduced reagent consumption, reduced plant wear and tear, and a reduced environmental footprint.
Click here for the full ASX Release
This article includes content from Astute Metals NL, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
HIGHLIGHTS
Figure 1 – Pursuit’s 99.5% Li₂CO₃ Sample Ready for Dispatch to Potential Offtake Partners
In relation to the dispatch of samples, Pursuit Managing Director & CEO, Aaron Revelle, said:
“Achieving 99.5% lithium carbonate purity is a major technical milestone for Pursuit and a clear demonstration of the capability embedded within our flowsheet, team, and pilot plant infrastructure. It not only validates the compatibility of our process design with Rio Grande Sur brines but also confirms our ability to deliver a consistently high-quality product suited to a wide range of industrial and energy storage applications. Dispatching these samples to potential offtake partners is a critical first step in our commercialisation pathway, enabling product qualification and accelerating engagement with strategic customers in tough market conditions. As we transition into the next phase of development, our focus is firmly on advancing feasibility for our 5,000tpa operation and securing long-term partnerships that will underpin the future production and growth of the Rio Grande Sur Project.”
Initial pilot production at Pursuit’s 250tpa Pilot Plant in Salta successfully produced 15 kilograms of lithium carbonate at 98.9% purity, validating both the compatibility of the Rio Grande Sur brine and the efficiency of the Company’s conventional processing flowsheet. To enhance product quality and simulate potential refinement steps at commercial scale, a portion of this material was further treated at bench scale using fractional crystallisation (FX) and ion exchange (IX) techniques. These post processing steps upgraded the product to 99.5% purity, meeting established benchmarks for technical-grade lithium carbonate.
The final product assays confirm not only the effectiveness of Pursuit’s downstream purification strategy but also the scalability and robustness of its broader flowsheet. This achievement represents a critical milestone on the path to commercial readiness supporting key feasibility assumptions, validating end product quality, and enabling active engagement with prospective offtake partners.
Pursuit is well positioned to undertake additional small-batch production as required to meet partner qualification needs and advance strategic discussions. Furthermore, it demonstrates Pursuit’s capability to produce high-purity lithium carbonate suitable for industrial use, with potential to meet battery-grade specifications through additional refinement.
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