FBM’s Big Red pegmatite balloons out by an additional 200m

Future Battery Minerals has extended the ‘Big Red’ pegmatite at its Kangaroo Hills lithium asset

Future Battery Minerals’ Big Red pegmatite, which sits within a broader 900m mineralised corridor, is now over 600m long. Pic: Getty Images

• Assays from a 19-hole RC drilling campaign for 3,109m have expanded FMB’s Big Red pegmatite

• Results including 27m at 1.04% Li20 from 118m have been received

• The next round of drilling will focus on walk-up targets at the newly acquired Miriam project

Special Report: Phase 4B RC drilling at Future Battery Minerals’ Kangaroo Hills lithium asset has extended the thick Big Red pegmatite a further 200m.

Following the consolidation of its Goldfields lithium acreage at the end of March, Future Battery Minerals (ASX:FBM) now holds two exciting lithium discoveries in its project portfolio with the Kangaroo Hills project and the Nevada project.

Situated in the lithium endowed Goldfields region, within a whisker of Mineral Resources’ (ASX:MIN) 64.8Mt Mt Marion mine, the Kangaroo Hills Lithium Project (KHLP) has been the subject of recent Phase4A drilling after the receipt of ministerial approval earlier this year.

Initial drilling prioritised testing extensions of key prospect Big Red as well as a series of high-potential resistivity anomaly targets in the northern KHLP area, where previous drilling returned a best-to-date intersection of 31m at 1.13% Li2O from 86m, including 20m at 1.43% Li2O from 88m.

Big Red footprint now over 600m

FBM has now received the results from Phase 4B drilling in the northern area of the project, with thick high-grade results assays including:

• 27m at 1.04% Li2O from 118m, including 15m at 1.53% Li2O from 122m;
• 21m at 1.01% Li2O from 104m, including 12m at 1.44% Li2O from 107m; and
• 18m at 1.03% Li2O from 100m.

The known footprint at Big Red is now over 600m from outcrop to the northern-most drill hole, where mineralisation remains thick, shallow and open.

Plan view of KHLP Phase 4B drilling results. Pic: Future Battery Minerals

Drilling has also confirmed the known footprint of the recently identified Potoroo pegmatite to be well over 250m, another clear sign the KHLP has plenty to offer.

Hit 200m northern strike target

“We were targeting up to 200m of further northern strike extent at similar Big Red widths and grades, and that is exactly what the Phase 4B results have delivered,” FBM managing director and CEO Nick Rathjen says.

“Encouragingly, the dip of Big Red also appears shallow to the north, averaging approximately -20° around the northern-most intercept hole, KHRC194.

“While we plan to test for further extension of Big Red to the north, our next phase of drilling is designed to assess the highly prospective initial targets at our recently acquired, neighbouring Miriam tenure,” he says.

Well-funded and bullish on lithium outlook

FBM continues to review the planned scale and scheduling of all drilling programmes against the backdrop of challenging market conditions.

“We are well funded, with a strong cash position, remain bullish on the long-term lithium outlook, and remain committed to advancing both the KHLP and Miriam Projects through highly targeted, cost-effective exploration.”

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.

Originally published as FBM’s Big Red pegmatite balloons out by an additional 200m