Astute Metals NL (ASX: ASE) has announced significant findings from its April 2025 diamond drilling campaign at the Red Mountain Lithium Project in Nevada, USA.
A key highlight from the drilling campaign is the high-grade lithium mineralisation identified in drill-hole RMDD003, which intersects three zones of high-grade lithium. The Red Mountain Project, staked by Astute in August 2023, has now shown a north-south strike extent of over 5.6 kilometers, marking a noteworthy discovery in the lithium exploration sector.
The results from drill-hole RMDD003 revealed an impressive interception of high-grade lithium mineralisation reaching up to 5,060 parts per million (ppm) within an 8.6-meter zone. The maximum single sample grade recorded was 5,660 ppm, underscoring the significant potential of the Red Mountain Project. The exploration campaign, which includes six holes, still awaits assay results for five additional holes, which could provide further insights into the project’s scope.
Astute Metals’ Chairman, Tony Leibowitz, expressed optimism following these initial findings, noting that the exploration campaign has commenced on a high note with the thick and high-grade mineralisation discoveries. Furthermore, surface sampling conducted by Astute Metals indicated widespread lithium anomalies, with bedrock samples confirming lithium concentrations of up to 4,150 ppm.
The Red Mountain Project is strategically located in central-eastern Nevada, an area known for notable lithium deposits, such as Lithium Americas’ Thacker Pass Project. This similarity positions Astute Metals’ project alongside significant lithium deposits, potentially contributing substantially to the lithium supply from this region.
Top Australian Brokers
- City Index - Aussie shares from $5 - Read our review
- Pepperstone - Trading education - Read our review
- IC Markets - Experienced and highly regulated - Read our review
- eToro - Social and copy trading platform - Read our review
The company’s initial findings at the Red Mountain Project signal potential for further lithium discoveries, with ongoing assays expected to yield additional insights into the project’s capabilities. The continuation of the exploration work is anticipated to solidify Red Mountain’s position as a promising site in the lithium exploration landscape. Astute Metals shares (ASX: ASE) ended the day up 12% on the news.
