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Roboto

Astute has staked two highly-prospective lithium clay exploration projects, Red Mountain and Cobre, strategically located adjacent to infrastructure in North America’s lithium ‘hot-spot’ of Nevada. Active exploration programs are underway.

The recently staked Red Mountain and Cobre projects are hosted by the same age rocks as large claystone-hosted lithium deposits such as the American Lithium Corporation’s 7.13Mt LCE (Lithium Carbonate Equivalent) TLC Lithium Project, and American Battery Technology Corporation’s 15.8Mt LCE Tonopah Flats Lithium Resource.

The maiden drilling campaign at Red Mountain, undertaken in Q2 2024, identified a large-scale lithium discovery with holes intersecting thick zones of lithium mineralisation including:

RMRC008: 25.9m @ 1,120ppm Li / 0.60% Lithium Carbonate Equivalent1 (LCE) from 73.2m

RMRC010: 33.5m @ 1,260ppm Li / 0.67% LCE from 19.8m

RMRC004 : 13.7m @ 1,070ppm Li / 0.57% Lithium Carbonate Equivalent1 (LCE) from surface, and 83.8m @ 1,230ppm Li / 0.65% LCE from 16.8m

RMRC006 : 62.5m @ 1,070ppm Li / 0.57% LCE from 6.1m and 15.3m @ 896ppm Li / 0.48% LCE from 71.6m and 0.1m @ 1,090ppm Li / 0.58% LCE from 89.9m

RMRC007 : 74.7m @ 1,160ppm Li / 0.61% LCE from 18.3m and
25.9m @ 1,580ppm Li / 0.84% LCE from 115.8m

RMRC001 : 59.4m @ 1,300ppm Li / 0.69% Lithium Carbonate Equivalent1 (LCE) from 73.2m

Assay results from the first of two diamond holes drilled at the project intersected new zones of high-grade lithium, including:

RMDD001: 25.9m @ 1,530ppm Li / 0.82% LCE from 76.2m

RMDD001: 7.3m @ 1,350ppm Li / 0.72% LCE from 50.3m

Scoping leach testwork conducted on six RC samples from Red Mountain were highly encouraging, demonstrating that:

•	Sulfuric-acid leaching shows that lithium is readily leachable from the clay-bearing host rocks at Red Mountain.

•	High recoveries of up to 98% of lithium are achievable using appropriate conditions. 

•	The overall recovery of lithium is a function of temperature, acid strength and time conditions.

•	Lithium grade in samples increases with clay content, indicating that focusing future exploration work on project areas with higher clay content may result in intersection of higher lithium grades

Next steps for the project include Geological mapping, infill diamond and RC drilling and the calculation of a maiden Mineral Resource Estimate