top of page
Writer's pictureMatt Birney

Future Battery Minerals launches new US lithium chase

Updated: Apr 19


Future Battery Minerals is off and racing with a 3000m RC drilling program at its Nevada lithium project joint venture. Credit: File

Future Battery Minerals has 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 phase-two campaign will run for the next four to six weeks and will also include exploration across its Lone Mountain and Heller prospects.


Previous results from first-phase drilling at Western Flats in March featured 109.7m at 766 parts per million lithium from 135.6m, including 29m grading 1010ppm from 210m, with the mineralisation remaining open. Another hit returned 44.2m going 570ppm from 169m.


Management believes its recent intercepts have the potential to extend both to the south and west towards the Lone Mountain prospect, in addition to the newly-staked claims contiguous to the Western Flats prospect. The latest drilling will also probe the regional Heller prospect with three to four RC holes to test the stratigraphy for potential lithium-bearing units.


All claystone intercepts will be sampled and sent for assay, with results expected six to eight weeks after drilling is completed.


FBM is excited to be back drilling again in Nevada, considering the Phase 1 drilling successfully intercepted thick Li bearing clay stone in the final hole of the programme, which remains open to the south and west and at depth. The Phase 2 drilling program will test for extensions to this significant intercept as drilling steps out on the Lone Mountain Prospect and on the newly staked ground to the west. The program is a very important next step in the company’s exploration of the Nevada lithium project as we increase our understanding of the potential scale of this mineralisation. Future Battery Minerals technical director Robin Cox

In June last year, Future Battery Minerals 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 situated 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.


But it is not just Tesla flexing its automotive muscles in North America, with Japanese behemoth Toyota last week announcing it will invest US$2.1 billion (AU$3.17 billion) more in its new battery plant in North Carolina, as the automaker beefs up its efforts to tap into rising demand for electric vehicles (EVs). Toyota also recently revealed its first US-made electric sports utility vehicles (SUVs) will be assembled at the company’s Kentucky plant from 2025.


The new SUVs, with three rows of seats, will be powered by batteries from the North Carolina plant once it begins production in the same year. Toyota’s latest investment in the battery plant brings its total to $5.9 billion (AU$8.91 billion).


With automakers across the country ramping up the production of EVs, it appears an opportune time to be poking around for some more lithium.



Is your ASX-listed company doing something interesting? Contact: office@bullsnbears.com.au

Comentários


bottom of page