Astute Metals (ASX:ASE) has announced its highest-grade lithium intercept to date at the Red Mountain Lithium Project in Nevada. Initial results from six diamond drillholes reveal significant lithium mineralization, including a standout 32.4-meter section grading 3,260 parts per million (ppm) lithium, equivalent to 1.74% lithium carbonate equivalent (LCE). Within this zone, an 8.6-meter section registered an even higher grade of 5,060 ppm lithium, or 2.69% LCE.
The company’s findings suggest the presence of a high-grade zone, particularly in the northern section of the Red Mountain area, where drillholes returned stronger lithium concentrations than those in the south. An extension further north has identified an additional 630 meters of strike along the main zone. Surface sampling indicates the potential for another 410-meter extension northward. Astute Metals, with a market capitalization of $15.45 million, plans to advance the Red Mountain project toward a maiden JORC mineral resource estimate later in the year, signifying a major step toward quantifying the project’s lithium resources.
According to Chairman Tony Leibowitz, the company is encouraged by the thickness and grade of lithium mineralisation at the Red Mountain project, providing indication that Red Mountain is unfolding as a lithium discovery of significance in North America. He also stated that with mineralisation now defined by drilling over a strike length of almost 6 kilometres, they are looking forward to seeing what the remaining drill-holes will deliver.
