Red Mountain Lithium Project Targets Up to 1.5 Billion Tonnes at 0.71% LCE

Significant Lithium Potential in Nevada

Astute Metals NL (ASX: ASE) has taken a major step forward in its lithium exploration ambitions with the announcement of an initial JORC-compliant Exploration Target for its wholly owned Red Mountain Lithium Project in Nevada, USA. The project’s global Exploration Target ranges from 1,136 million tonnes to 1,515 million tonnes, with lithium grades between 785 and 1,328 parts per million (ppm), translating to 0.42% to 0.71% Lithium Carbonate Equivalent (LCE). This positions Red Mountain as a potentially significant player in the North American lithium landscape.

Two Distinct Targets Shape Exploration Strategy

The Exploration Target is divided into two separate zones, Target A and Target B, each characterised by different geological settings and exploration maturity. Target A, covering two north-south trending zones with a combined length of approximately 9.5 kilometres, is situated within the clay-rich Unit O of the Horse Camp Formation. This target has been prioritized for immediate drilling in the first half of 2025, with the company aiming to establish a maiden Mineral Resource Estimate (MRE) by year-end.

Target B, a smaller semi-oval zone within Unit J of the same formation, remains at an earlier stage of exploration. It will undergo further surface sampling before drilling is planned for the second half of 2025. This phased approach reflects a strategic allocation of resources to rapidly advance the most promising area while continuing to build geological understanding of the broader project.

Robust Exploration Results Underpin Confidence

Astute Metals has already completed extensive surface sampling, geological mapping, and structural measurements, alongside 13 Reverse Circulation (RC) and diamond drill holes totalling nearly 2,000 metres. Lithium mineralisation was intersected in every drill hole, with some intervals showing grades exceeding 1,500 ppm Li (0.84% LCE). Metallurgical testwork indicates high lithium leachability of up to 98%, an encouraging sign for potential processing efficiency.

Chairman Tony Leibowitz emphasised the significance of this milestone, noting the project’s potential to rival some of the largest lithium deposits in North America. He also highlighted the advantage of operating in Nevada, a Tier-1 mining jurisdiction where the current US administration is prioritising critical minerals development, potentially accelerating permitting and project advancement.

Looking Ahead: Drilling and Resource Estimation

Astute Metals plans two drilling campaigns in 2025 focused primarily on Target A, with results from the first campaign guiding the second. The goal is to deliver a maiden JORC Mineral Resource Estimate by Q4 2025, a key value inflection point for the company. Target B’s exploration will continue with systematic rock chip sampling ahead of a smaller drill program in H2 2025, designed to understand grade variability and structural controls.

This methodical exploration strategy, combined with the project's substantial scale and grade potential, positions Astute Metals to capitalize on the growing demand for lithium, driven by the global transition to electric vehicles and renewable energy storage.