Geological Mapping and Further Rock Chip Results Enhance Red Mountain

Astute Metals NL (ASX: ASE) (“ASE”, “Astute” or “the Company”) is pleased to advise that recently completed geological mapping and rock chip sampling at the 100%-owned Red Mountain Lithium Project in Nevada, USA has identified a new zone of lithium bearing clay-rich rocks (shown as the Dark green ‘Unit J’ in Figures 1-3) with lithium grades of up to 2,100ppm lithium.

Key Highlights

• Detailed geological mapping completed by consulting expert Professor Phillip Gans of the University of California Santa Barbara.
• Mapping identifies two priority clay-rich and lithium- hosting rock units at Red Mountain.
• Additional rock-chip sampling within ‘Unit J’ identifies a broad zone of mineralisation grading up to 2,100ppm Li.
• Mapped as the most clay-rich rock type. ‘Unit J’ has only been tested by one drill hole, indicating excellent upside.
• Continuous ‘Unit O’ trending approximately north-south through project will underpin the upcoming Exploration Target.

Unit J is a claystone and siltstone dominated rock type located in the west of the Red Mountain Project area which was identified as part of detailed geological mapping undertaken by consultant geologist Professor Phillip Gans of the University of California Santa Barbara. Professor Gans identified Unit J as the most clay-rich rock unit at the Project and recommended a targeted sampling campaign to establish the presence of lithium mineralisation. Subsequently a total of 38 sub-crop and outcrop samples were taken over an area of 800 x 500m of Unit J (Figure 1), with excellent assay results returned from 13 samples grading 1,000ppm lithium or greater. The sampling revealed outstanding exploration potential in this previously unsampled part of the project.

The mapping also identified two priority rock units for future drill targeting – Unit O and the previously mentioned Unit J. Unit O (shown in pale green in Figures 1-3) is dominated by silt and sandstone with clay-rich horizons, is interpreted to be continuous over a 7.8km extent across the Project, and has been tested by 12 of the 13 holes drilled to date, each of which has intersected strong lithium mineralisation⁷.

The continuous nature of Unit O will underpin a maiden Exploration Target for the Project and inform the drill targeting strategy for the first half of 2025, as the Company advances toward a Maiden Mineral Resource Estimate in the second half.

Astute Chairman, Tony Leibowitz, said:

“With the advice of expert independent consultants, we are continuing to systematically progress the Red Mountain Project. The identification of a new high-grade lithium-bearing unit increases the project’s potential, while the enhanced geological understanding allows the calculation of an Exploration Target, as well as contributes to de-risking of the upcoming drilling campaign, paving the way for a maiden Mineral Resource Estimate in the second half of 2025”

Figure 1. Mapped geology and rock chip lithium geochemistry with red box…