Red Dirt (ASX: RDT) boosts imminent lithium resource

Red Dirt Metals Limited has reported the best intercept drilled to date of 28.9m @ 1.92 per cent lithium (Li2O) and 187ppm Tantalum oxide (Ta2O5) from 318.5 metres at Sister Sam prospect, part of diamond drilling at the Mt Ida Lithium Project in the central Gascoyne region of Western Australia.

The exceptional result follows the completion of the acquisition of Lithium explorer Electrostate Limited – 100% holder of the Yinnetharra Lithium Project.

Other results

• 21.3m @ 1.90% Li2O and 180ppm Ta2O5 from 180m in IDRD03, Sister Sam
• 22.5m @ 0.97% Li2O and 79ppm Ta2O5 from 415.4m in SPEX020, Sparrow North
• 10.9m @ 1.01% Li2O and 137ppm Ta2O5 from 381.6m in SPEX010, Sparrow North

“Resource definition and extensional drilling continue to provide strong results to be included into the calculation of our maiden resource estimate,” Managing Director Matthew Boyes said.

“Now just weeks away, the resource estimate is the most material milestone in the Company’s history and will provide the cornerstone for continued development of Mt Ida and our rapid progression towards production.

“Red Dirt has also completed the acquisition of the drill ready Yinnetharra Lithium Project in the Gascoyne.

“In parallel with the final acquisition process, the upcoming Program of Works has been finalised, drill rigs have been booked and the team is looking forward to starting drilling in November.

The drill targets are exciting, and we believe there is great potential to add to the Red Dirt lithium portfolio.”

The Company’s ASX share pirce has risen 5 per cent to 63c in early trade.

Yinnetharra Lithium Project Acquisition

• Settlement of Electrostate Limited acquisition and the Yinnetharra Lithium Project finalised
• Yinnetharra project has significant potential to host a large tonnage LCT bearing system, existing known pegmatites have been drilled and mapped over greater than 7km of strike
• RDT to commence 5,000m drilling programme in November with POW’s approved and in place
• Red Dirt is fully funded with ~$AUD18million in cash post acquisition

About Red Dirt Metals

Red Dirt is focussed on the exploration and development of the recently discovered Mt Ida Lithium Province in Western Australia.

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