NT Lithium Project Update
Our exploration Investment, Ragusa Minerals (ASX:RAS) gave an update today regarding the company’s NT lithium project.
So far, RAS has completed eight RC drillholes hitting significant pegmatite interceptions which include:
- Drillhole 22RC07 - 27m interval from 16m depth
- Drillhole 22RC017 - 19m interval from 69m depth
- Drillhole 22RC024 - 15m interval from 49m depth
The key takeaway for us at this stage is that all of these intercepts are coming from shallow depths starting from as low as 16m.
RAS also confirmed that the pegmatites have “apple-green crystals” within them which the company says could represent spodumene crystals.
With spodumene being the host rock for much of the world's lithium production, this would be positive news for RAS if it is the case.
We will need to wait for the assay results to be sure, however.
All up we see this news as a good early result and are eagerly awaiting the assays from this initial (and recently expanded) ~4000m drill program.
RAS intends to drill through the wet season, weather permitting.
It’s an aggressive style of exploration, and comes at a time when the lithium price remains elevated:
