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Astute Metals NL (ASX: ASE) (“ASE”, “Astute” or “the Company”) is pleased to advise that recently completed geological mapping and rock chip sampling at the 100%-owned Red Mountain Lithium Project in Nevada, USA has identified a new zone of lithium bearing clay-rich rocks (shown as the Dark green ‘Unit J’ in Figures 1-3) with lithium grades of up to 2,100ppm lithium.
Key Highlights
- Detailed geological mapping completed by consulting expert Professor Phillip Gans of the University of California Santa Barbara.
- Mapping identifies two priority clay-rich and lithium- hosting rock units at Red Mountain.
- Additional rock-chip sampling within ‘Unit J’ identifies a broad zone of mineralisation grading up to 2,100ppm Li.
- Mapped as the most clay-rich rock type. ‘Unit J’ has only been tested by one drill hole, indicating excellent upside.
- Continuous ‘Unit O’ trending approximately north-south through project will underpin the upcoming Exploration Target.
Unit J is a claystone and siltstone dominated rock type located in the west of the Red Mountain Project area which was identified as part of detailed geological mapping undertaken by consultant geologist Professor Phillip Gans of the University of California Santa Barbara. Professor Gans identified Unit J as the most clay-rich rock unit at the Project and recommended a targeted sampling campaign to establish the presence of lithium mineralisation. Subsequently a total of 38 sub-crop and outcrop samples were taken over an area of 800 x 500m of Unit J (Figure 1), with excellent assay results returned from 13 samples grading 1,000ppm lithium or greater. The sampling revealed outstanding exploration potential in this previously unsampled part of the project.
The mapping also identified two priority rock units for future drill targeting – Unit O and the previously mentioned Unit J. Unit O (shown in pale green in Figures 1-3) is dominated by silt and sandstone with clay-rich horizons, is interpreted to be continuous over a 7.8km extent across the Project, and has been tested by 12 of the 13 holes drilled to date, each of which has intersected strong lithium mineralisation7.
The continuous nature of Unit O will underpin a maiden Exploration Target for the Project and inform the drill targeting strategy for the first half of 2025, as the Company advances toward a Maiden Mineral Resource Estimate in the second half.
Astute Chairman, Tony Leibowitz, said:
“With the advice of expert independent consultants, we are continuing to systematically progress the Red Mountain Project. The identification of a new high-grade lithium-bearing unit increases the project’s potential, while the enhanced geological understanding allows the calculation of an Exploration Target, as well as contributes to de-risking of the upcoming drilling campaign, paving the way for a maiden Mineral Resource Estimate in the second half of 2025”
Figure 1. Mapped geology and rock chip lithium geochemistry with red box indicating new lithium zone in Unit J.
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 Formation2. 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 and confirmed lithium mineralisation in bedrock with some exceptional grades of up to 4,150ppm Li1,6 (Figures 1 and 3).
A total of 13 RC and diamond drill holes have been drilled at the project for a combined 1,944.72m. Both campaigns were highly successful with strong lithium mineralisation intersected in every hole drilled7.
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 duration8.
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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.
Firebird Produces LMFP Batteries
HIGHLIGHTS
- LMFP cathode material testwork is underway at Firebird’s state-of-the-art R&D centre, located in Jinshi, Hunan Province, China. Five batches have been completed, with LMFP button batteries already produced from this early round of testing.
- 100 batches expected to be completed - each batch to be turned into button batteries for full evaluation and analysis. Program being completed with Central South University (CSU) of Hunan, under a binding strategic collaboration agreement.1
- Production of LMFP fits within Firebirds growth strategy of becoming a near-term, low-cost manganese-based cathode material business, to deliver products into the growing electric vehicle battery market.
- Substantial cost advantages expected to flow through to manganese sulphate operating costs through this innovative LMFP production process, which retains manganese sulphate in solution, eliminating the need for sulphate crystallisation, packaging and other ancillary costs.
- Bypassing the packaging and crystallisation steps, combined with reduced handling within sulphate process, will yield a ~32% or US$167/t saving in the projected manganese sulphate operating cost. 2
- Leveraging its unique processing methods and technology, Firebird expects this streamlined approach will not only significantly reduce costs but will result in a higher-quality LMFP product, strengthening Firebird's position in the market.
- Testwork results will be used to undertake a Scoping Study and, once completed, Firebird will assess options to expand the current pilot plant to produce approximately one metric tonne per day of LMFP.
Image 1: Button batteries made with Firebird LMFP. Note: Battery industry standard to conduct battery testing on button batteries
Firebird Managing Director Mr Peter Allen commented:“The commencement of testwork and first production of LMFP batteries with CSU is an exciting and transformative step forward for Firebird in the commercialisation of our LMFP cathode materials, which will ultimately be distributed directly into global battery markets.
“This achievement places Firebird in a very small select group of non-Chinese owned companies (first Australian company) to have produced LMFP batteries. Manganese sulphate is a critical element within LMFP and our manganese processing knowledge and IP enables Firebird to drive significant value by co-precipitation.
“We expect our process to translate into substantial cost advantages in sulphate production by bypassing the manganese sulphate crystallisation process, which is the largest component of our operating cost. This streamlined approach not only reduces costs but also results in a superior quality LMFP product, strengthening our position as a cost-effective, high-quality leader in the market.
“The progress we have made in a short period of time is testament to our dedicated and innovative team and partners who have been instrumental in fast-tracking our journey toward becoming a leading manganese chemical business.
“The production of LMFP batteries is aligned with our growth strategy of establishing Firebird as a leading and low-cost manganese-based cathode material business. We are well-positioned to deliver on this strategy and through our sector leading manganese team and proposed, tier-one manganese sulphate plant, the Company is fully focused on establishing operations and continuing to innovate through our leading technology processes to generate strong stakeholder returns.
“The future for Firebird is very exciting and we look forward to delivering on a busy 2025.”
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This article includes content from Firebird Metals Limited, 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.
