{"id":8711,"date":"2024-04-23T02:45:03","date_gmt":"2024-04-23T02:45:03","guid":{"rendered":"https:\/\/economicherald.net\/?p=8711"},"modified":"2024-04-23T02:45:03","modified_gmt":"2024-04-23T02:45:03","slug":"future-battery-minerals-bares-ankle-at-miriam-discovering-additional-spodumene-bearing-pegmatite-with-a-1-23-li2o-rock-chip","status":"publish","type":"post","link":"https:\/\/economicherald.net\/?p=8711","title":{"rendered":"Future Battery Minerals bares ankle at Miriam, discovering additional spodumene bearing pegmatite with a 1.23% Li2O rock chip"},"content":{"rendered":"<p>Field mapping work across the Miriam project has discovered 11 pegmatites which require follow up exploration<br \/>\nAdditional sampling of the known spodumene-bearing outcrop has generated a 2% Li2O rock chip assay<br \/>\nDiscovery of additional spodumene-bearing pegmatite delivered 1.23% Li2O rock chip assay<br \/>\nMaiden lithium drilling is set to begin in the September quarter, following completion of transaction <\/p>\n<p>\u00a0<\/p>\n<p><strong><em>Special Report:<\/em><\/strong><strong> Recent field mapping across the southern area of Future Battery Minerals\u2019 Miriam project has set the stage for future exploration success with the identification of 11 outcropping pegmatite units. <\/strong><\/p>\n<p><a href=\"https:\/\/stockhead.com.au\/company\/future-battery-minerals-fbm\/\">Future Battery Minerals (ASX:FBM)<\/a> consolidated its Goldfields lithium acreage at the end of March after signing a binding purchase agreement to acquire 85% of Coolgardie Nickel, a wholly owned subsidiary of <a href=\"https:\/\/stockhead.com.au\/company\/corazon-mining-czn\/\">Corazon Mining (ASX:CZN).<\/a><\/p>\n<p>Coolgardie Nickel holds the tenements which make up the Miriam project, about 3.5km to the north of FBM\u2019s Big Red discovery within its flagship Kangaroo Hills project in WA.<\/p>\n<p>While previous geochemical sampling carried out by CZN had identified a primary target with a strike of ~1.6km, as well as a second trend spanning 600m, no historical drilling has been carried out, giving FBM an opportunity to make a new lithium find close to Big Red.<\/p>\n<p>\u00a0<\/p>\n<h2><strong>Four distinct target zones <\/strong><\/h2>\n<p>Field mapping efforts undertaken by FBM in recent weeks have enhanced the drill-ready opportunity at Miriam with the identification of 11 outcropping pegmatite units.<\/p>\n<p>Interestingly, additional sampling of the known spodumene-bearing outcrop previously identified by CZN has generated a further 2% Li2O rock chip assay.<\/p>\n<p>FBM also identified another spodumene bearing outcrop, ~250m west of the known spodumene-bearing outcrop which returned a rock chip assay of 1.23% Li2O.<\/p>\n<p>Altogether, the rock chip and soil sampling geochemical data \u2013 plus recent mapping results \u2013 have identified four distinct target zones varying from 350m to 1.6km in strike length.<\/p>\n<p>\u00a0<\/p>\n<h2><strong>First lithium drilling campaign set for September <\/strong><\/h2>\n<p>\u201cThese fieldwork results demonstrate why we are attracted to the Miriam tenure in the first place,\u201d FBM managing director Nick Rathjen says.<\/p>\n<p>\u201cThe powerful combination of multiple pegmatite outcrops with proven spodumene mineralisation and surface soil anomalies is an exciting one.\u201d<\/p>\n<p>Rathjen says the explorer is now looking forward to progressing the Miriam acquisition to completion, targeted for next month, as well as advancing the tenure towards a maiden target testing drilling program during September.<\/p>\n<p>\u00a0<\/p>\n<h2><strong>The road ahead <\/strong><\/h2>\n<p>Wide-spaced extensional soil sampling is now planned to test the potential for blind, subsurface pegmatites, including across the northern part of the tenure.<\/p>\n<p>A target-generative geophysical review has also begun, including litho-magnetic structural interpretation and low-cost ground gravity and passive seismic surveys.<\/p>\n<p>The acquisition of the Miriam project remains subject to conditions precedent and is anticipated to complete in late May 2024, with FBM\u2019s shareholder meeting scheduled for 20 May 2024.<\/p>\n<p>Following the transaction completion, FBM expects to begin the maiden drilling campaign.<\/p>\n<p>\u00a0<\/p>\n\n<p><span class=\"mce_SELRES_start\">\ufeff<\/span>\u00a0<\/p>\n<p><em>This article was developed in collaboration with Future Battery Minerals, a Stockhead advertiser at the time of publishing. <\/em><\/p>\n<p><em>\u00a0<\/em><\/p>\n<p><em>This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.<\/em><\/p>\n<p><span class=\"et_bloom_bottom_trigger\"><\/span><\/p>\n<p>The post <a href=\"https:\/\/stockhead.com.au\/resources\/future-battery-minerals-bares-ankle-at-miriam-discovering-additional-spodumene-bearing-pegmatite-with-a-1-23-li2o-rock-chip\/\">Future Battery Minerals bares ankle at Miriam, discovering additional spodumene bearing pegmatite with a 1.23% Li2O rock chip<\/a> appeared first on <a href=\"https:\/\/stockhead.com.au\/\">Stockhead<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"<p>Field mapping work across the Miriam project has discovered 11 pegmatites which require follow up exploration Additional sampling of the known spodumene-bearing outcrop has generated <a href=\"https:\/\/economicherald.net\/?p=8711\" class=\"read-more-link\">[more&#8230;]<\/a><\/p>\n","protected":false},"author":0,"featured_media":8712,"comment_status":"","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-8711","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - 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