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Astro Resources NL ( (AU:VMS) ) has shared an announcement.
Astro Resources has reported a maiden Inferred Mineral Resource Estimate for its Red Mountain Lithium Project in Nevada of 500 million tonnes at 1,139 ppm lithium for 3.03 million tonnes of contained lithium carbonate equivalent at a 700 ppm cut-off, including a high-grade North Zone of 47.9 million tonnes at 2,193 ppm lithium for 560,000 tonnes of LCE at a 1,300 ppm cut-off. The company highlights significant exploration upside with six undrilled zones of surface lithium anomalism, advanced metallurgical test work showing lithium is readily leachable with sulfuric acid and amenable to beneficiation, and a near-term work program including an updated exploration target, lithium carbonate product test results, and exploration, infill and resource extension drilling scheduled across early 2026, positioning Red Mountain as a potentially globally significant lithium resource in an improving lithium market environment.
The most recent analyst rating on (AU:VMS) stock is a Hold with a A$0.20 price target. To see the full list of analyst forecasts on Astro Resources NL stock, see the AU:VMS Stock Forecast page.
More about Astro Resources NL
Astro Resources NL, listed on the ASX under the code VMS, is focused on lithium exploration and development, with its flagship asset being the Red Mountain Lithium Project in Nevada, USA, a region of growing strategic importance for North American battery and electric-vehicle supply chains.
Average Trading Volume: 158,346
Technical Sentiment Signal: Sell
Current Market Cap: A$26.91M
For an in-depth examination of VMS stock, go to TipRanks’ Overview page.