Nov 20, 2024

Battery Age Minerals Intersects 54.1m and 55.95m Spodumene-Bearing Pegmatites at Falcon Lake, Ontario

Introduction:

Battery Age Minerals Ltd (ASX: BM8) (Market Cap: $9.7M | Last Close: $0.095) has reported significant visual spodumene-bearing pegmatite intercepts from its 2024 Winter drill program at the Falcon Lake Lithium Project in Ontario, Canada, highlighted by 54.1m and 55.95m mineralized pegmatite intervals.

Drill Results:

54.1m of mineralized pegmatite from 100.85m (35% visual spodumene estimate) [24FL-107]
55.95m of mineralized pegmatite from 222.2m (30% visual spodumene estimate) [24FL-108]
21.3m of mineralized pegmatite from 115.7m (25% visual spodumene estimate) [24FL-110]
24.90m @ 1.34% Li2O from 18.95m (including 5.8m @ 1.98% Li2O) [24FL-098] (previous result)‍
18.40m @ 1.88% Li2O from 55.00m (including 5.0m @ 2.44% Li2O) [24FL-100] (previous result)

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Project Overview:

The Falcon Lake Lithium Project is located in Ontario, Canada. The project area contains multiple high-priority pegmatite targets identified through 2023 and 2024 field programs. Approximately 12,000m of drilling has been completed to date, with the current winter program targeting expansion of known mineralization.

The Falcon Little Lake spodumene-bearing pegmatite target remains open in all directions, demonstrating potential for resource growth. The project is situated in the established mining jurisdiction of Ontario, benefiting from good infrastructure access.

Program Details:

The 2024 Winter drill program has commenced with four holes completed at the Falcon Little Lake target. All holes intersected mineralization, expanding the known zone both down-dip and to the south. Visual estimates indicate significant spodumene content in wide pegmatite intervals. The program aims to build on previous successful drilling campaigns and test additional high-priority targets across the project area.

Understanding These Results:

The reported intercepts are based on visual estimates of spodumene content in drill core. While encouraging, these estimates should not be considered a substitute for laboratory assays. True widths of mineralization have not yet been determined.

The substantial widths of mineralized pegmatite (54.1m and 55.95m) with high visual spodumene estimates (up to 30-35%) suggest potential for a significant lithium-bearing system. The expansion of mineralization both down-dip and along strike indicates the deposit remains open for further growth.

Management Commentary:

Nigel Broomham, Battery Age CEO:

"We are thrilled to announce a strong start to our 2024 winter drilling program at the Falcon Lake Lithium Project. The early results from our drilling at the Falcon Little Lake target are incredibly promising, with multiple significant spodumene-bearing intercepts, including 54.1m and 55.95m of mineralised pegmatite in holes 24FL-107 and 24FL-108, respectively. These results confirm the growth potential of this discovery and highlight the expanding scale of the mineralised system.”

“We are excited by the potential for further significant discoveries as we continue to prioritize our exploration efforts in this highly prospective area. These early drilling results, combined with the significant intercepts from previous campaigns, position us well for continued success as we work to unlock the full potential of Falcon Lake”.

Next Steps & Catalysts:

Assay results from the initial holes of the winter program are expected within the next 3 to 4 weeks. These results will guide further drilling at the Falcon Little Lake target.

The company plans to continue its targeted exploration across the +20 high-priority pegmatite discoveries identified from previous field programs. Additional drilling is anticipated to expand on the ~12,000m completed to date, with a focus on delineating the full extent of the mineralized system.

Commodity Outlook:

Lithium remains a critical material for the growing electric vehicle and energy storage markets. Ontario is recognized as a tier-1 mining jurisdiction with established infrastructure and a supportive regulatory environment for lithium project development. The Falcon Lake project's location positions it well to potentially supply the North American battery supply chain.

Conclusion:

Battery Age Minerals' initial results from the 2024 Winter drill program at Falcon Lake demonstrate potential for a growing lithium deposit. The wide, visually mineralized intercepts expand the known extent of the Falcon Little Lake target and highlight the prospectivity of the broader project area. With assays pending and further drilling planned, the company is well-positioned to advance its understanding of the mineralized system.

Sources:

BM8 Drill Results Announcement

Additional Figures:

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Nov 7, 2024