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Highlights:
- Ragusa Minerals has shared a significant update from its ongoing NT Lithium Project today (27 September 2022).
- The company informed that it has completed site preparation earthworks, including access tracking and drill pad clearing at NT Lithium Project.
- Post the update, Ragusa’s share price skyrocketed more than 31% on ASX.
Australian mineral explorer Ragusa Minerals Ltd (ASX:RAS) shares were spotted trading 31.249% higher at AU$0.420 per share at 12:57 PM AEST on ASX today (27 September 2022). The company shared a significant update on its NT Lithium Project.
During the last 12 months, the share price of Ragusa has gained more than 361% on ASX. On a year-to-date basis, the shares have marked a gain of almost 419% (as of 1:05 PM AEST today).
Update on Ragusa’s NT Lithium Project:
Ragusa has shared updates on its drilling program at the NT Lithium Project according to which, the site preparation earthworks that included access tracking and drill pad clearing, have been completed.
Olaf Frederickson, Executive Director of Ragusa and the company’s project team had conducted a site trip to arrange the site works. They used a local Daly River contractor ahead of the upcoming drilling program. During the site tour, the team undertook additional reconnaissance and sampling work with newly identified pegmatite occurrences at the site along with the existing pegmatite outcrops.
At that time, Ragusa had identified a new pegmatite of around 150m outcrop width along the eastern edge of the project area, to the north of the White Rocks prospect.
Jerko Zuvela, Chairperson, Ragusa Minerals Ltd, said:
Therefore, Ragusa mentioned in its update that repetitive positive results from sampling and drilling programs, along with an increasing number of drill targets, have given optimism to the company. Furthermore, the company now believes that the NT Lithium Project is capable of a new major discovery under the superficial weathering surface.
The update also revealed that Ragusa’s joint venture partner, May Drilling, has indicated the initiation of the drilling program next week. This drilling program is targeting pegmatite under the weathering profile, said Ragusa.
