Future Battery Minerals bounds into new Kangaroo targets – The West Australian

Future Battery Minerals has reaped the benefits of its target generation work after uncovering seven new high-priority targets in a total strike length of more than 3km at its Kangaroo Hills lithium project in Western Australia.

The identified zones are due to be tested at the next round of exploration, which is due to start shortly, while a passive seismic and ground-gravity trial is underway.

Of the seven new prospects, Big Red has already shown form as it hosts a recently discovered thick high-grade spodumene pegmatite, which the company says is coincident with a large-scale anomaly of about 1km in strike length. The drilling at Big Red will be aimed at expanding previous intercepts of 27m at 1.32 per cent lithium from 64m and 29m going 1.36 per cent lithium from 38m.

Management has dubbed its other prospects Western Grey, Eastern Grey, Rocky, Quokka, Wallaroo and Pademelon and believes they all have the potential to host further lithium-caesium-tantalum pegmatites that sit in swarms, or as flat lying sheets similar to those at Big Red.

This generative work reviewed multiple layers of data, including geophysics, geochemistry, mapping and drill hole data to produce these high priority drill targets. While target generation remains an important and on-going exercise in the exploration of the Kangaroo Hills Lithium Project.

The Kangaroo Hills lithium project is a joint venture (JV) between Future Battery, which controls 80 per cent, and Lodestar Minerals, which holds the remaining 20 per cent.

Future Battery is still waiting on assays from about 23 holes from phase-two drilling at its Big Red discovery, but expects them to land shortly.

It is a busy time for the company, which earlier this week kicked off a 3000m reverse-circulation (RC) drilling program at its Nevada lithium project (NLP) joint venture, as it looks to target extensions of thick lithium claystone at its Western Flats prospect.

Management says the campaign will run for the next four to six weeks and will also include exploration across its Lone Mountain and Heller prospects.

In June last year, Future Battery acquired an 80 per cent interest in the project from the shareholders of Nevada Australia, who retain the remaining 20 per cent.

The project is in prime lithium real estate, with several big sedimentary-hosted deposits calling the area home. They include Ioneer Resources’ Rhyolite Ridge and American Lithium Corporation’s TLC lithium project. Albemarle’s Silver Peak operation, which is currently the only producing lithium mine in North America, lies about 45km to the west of the NLP.

Additionally, the NLP is within close proximity to the Tesla Gigafactory and has access to United States ports on that country’s west coast, providing a clear downstream processing path for any future lithium mineralisation.

With demand for electric vehicles forecast to rise by more than 40 per cent in the next two years, analysts expect the demand for lithium to continue. And with Future Battery already having its hands full in both hemispheres, the chances of things quietening down for the explorer any time soon look happily slim.

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Source: https://news.google.com/rss/articles/CBMidGh0dHBzOi8vdGhld2VzdC5jb20uYXUvYnVzaW5lc3MvcHVibGljLWNvbXBhbmllcy9mdXR1cmUtYmF0dGVyeS1taW5lcmFscy1ib3VuZHMtaW50by1uZXcta2FuZ2Fyb28tdGFyZ2V0cy1jLTEwOTE2NjE40gF4aHR0cHM6Ly90aGV3ZXN0LmNvbS5hdS9idXNpbmVzcy9wdWJsaWMtY29tcGFuaWVzL2Z1dHVyZS1iYXR0ZXJ5LW1pbmVyYWxzLWJvdW5kcy1pbnRvLW5ldy1rYW5nYXJvby10YXJnZXRzLWMtMTA5MTY2MTguYW1w?oc=5

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