Battery Age Minerals - Significant Spodumene Intercepts at Falcon Lake Lithium Project
BM8 (BM8) Share Update August 2024 Sunday 11th
Battery Age Minerals Reports Significant Spodumene Intercepts at Falcon Lake
Battery Age Minerals Ltd (ASX: BM8) has announced a strong start to its 2024 Summer drill program at the Falcon Lake Lithium Project in Ontario, Canada, with significant new spodumene-bearing pegmatite intercepts.
Instant Summary:
- 50.1m of mineralised pegmatite intersected in hole 24FL-105.
- 43.35m of mineralised pegmatite intersected in hole 24FL-103.
- 25.6m of mineralised pegmatite intersected in hole 24FL-102.
- Multiple new intercepts over 20m down-hole at Falcon East Extension.
- Assay results for priority holes expected in late August and early September.
Drilling Program Overview
Battery Age Minerals Ltd (ASX: BM8) has reported significant new intercepts of spodumene-bearing pegmatite at its Falcon Lake Lithium Project in Ontario, Canada. The 2024 Summer drill program has started strongly, with multiple wide zones of mineralised pegmatites intersected in new targets.
The highlights include 50.1 meters of mineralised pegmatite in hole 24FL-105, 43.35 meters in hole 24FL-103, and 25.6 meters in hole 24FL-102. These results underscore the potential for new discoveries and an expanded strike length at the Falcon East Extension, which was initially drilled in 2023.
Falcon Little Lake and Falcon East Extension
At the Falcon Little Lake target, seven holes have been completed, with six intersecting significant mineralisation. The geophysical survey indicates a magnetic low to the south, enhancing the prospectivity of this southern extension. The Falcon East Extension, discovered and drilled in the winter of 2023, has shown encouraging results with a cumulative total of 65.7 meters of strongly mineralised pegmatites intersected by hole 24FL-087.
Further drilling is planned pending the results of expedited assay samples, expected in late August and early September. The drilling program aims to cover 4,000 to 5,000 meters, targeting several high-priority pegmatite discoveries from the 2023 field program.
CEO's Comments
Battery Age CEO, Nigel Broomham, commented on the exceptional start to the 2024 Summer drill program, highlighting the multiple wide intercepts of spodumene-bearing pegmatites across new and existing targets. He emphasized the significant potential of the Falcon Lake Project and the promising results from the Falcon Little Lake target, which is open in all directions.
Broomham noted that the discovery of 50.1 meters of mineralised pegmatite at Falcon Little Lake, along with other significant intercepts, marks a major milestone in the company's exploration efforts. As the team awaits assay results, they remain committed to unlocking the full value of the project.
The announcement of significant new spodumene-bearing pegmatite intercepts is likely to have a positive impact on Battery Age Minerals' stock. The promising results from the Falcon Lake Lithium Project highlight the potential for substantial mineralisation and new discoveries, which could attract investor interest and boost the company's market position.
Investor Reaction:
Analysts are expected to react positively to the news, given the significant intercepts and the potential for new discoveries at Falcon Lake. The expedited assay results, expected in late August and early September, will be closely watched by investors for further confirmation of the project's potential.
Conclusion:
Investors should keep an eye on the upcoming assay results and the continued progress of the 2024 Summer drill program at Falcon Lake. Battery Age Minerals' strong start to the drilling season and the promising new intercepts underscore the potential for significant returns. Stay informed and consider the long-term prospects of this emerging player in the lithium industry.