Astute Metals (ASX:ASE) said geological mapping and rock chip sampling at its Red Mountain lithium project in Nevada identified a zone of lithium-bearing clay-rich rocks with grades of up to 2,100 parts per million lithium, according to a Tuesday Australian bourse filing.
Geological mapping at the project identified two priority rock units for future drill targeting, the filing said.
The mining firm is integrating the mapping data at the project with existing drilling and surface sampling to establish an exploration target, the filing added.
It is expected to conduct a new round of diamond drilling at the project within the year.
The firm's shares rose past 16% as of market close on Tuesday.
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