Drill targets identified at its Lithium project in the NT

This morning our junior exploration Investment Ragusa Minerals (ASX: RAS) announced that desktop reviews had been completed for its Northern Territory lithium project.

RAS has now completed its target generation works and identified the highest priority lithium targets it plans to drill in its upcoming drilling program.

RAS’s project sits in the same region as two much larger capped neighbours, Core Lithium (capped at $2.5B) and Lithium Plus (capped at $62M), sharing similar geological fundamentals.

Similar to its neighbours, previous rock chip samples taken from outcropping pegmatites over RAS’s project area have returned lithium grades of up to 8.03%.

Importantly RAS has also identified what it believes to be spodumene crystals over its project area - the host rock for most of the current producing hard rock lithium projects worldwide.

RAS also confirmed today that it already has an approved work program in place for up to 21 RC/diamond drillholes, and that the company has submitted a variation to this work program to take advantage of the desktop study and drill the best targets.

Our last note on RAS focused primarily on RAS’s newly acquired lithium project and set the context for what RAS is targeting.

To see our deep dive into the project, check out our previous note here: RAS Picks up Prospective Lithium Ground Near $2.3BN Core Lithium.