Astute Metals (ASX:ASE) said diamond drilling at its Red Mountain lithium project in Nevada intersected lithium mineralization, according to a Thursday Australian bourse filing.
It reported intercepts of 9.1 meters at 1,350 parts-per-million grade of lithium from 57.9 meters and 8.3 meters at 1,210 ppm grade of lithium from 240.8 meters to end-of-hole.
The results reinforce the firm's understanding of lithium mineralization at the project, it said. Assays are pending for a further four holes drilled as part of the April diamond drilling campaign.
Its shares fell 4% in recent trading on Thursday.
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