Battery Age Secures Majority Stake in Argentina’s High-Grade El Aguila Project

Strategic Acquisition in a Premier Mining Province

Battery Age Minerals Ltd (ASX: BM8) has taken a decisive step to expand its mineral portfolio by securing a Farm-In Agreement with Fredonia Mining Inc. to earn up to 80%, with an option to increase to 100%, ownership of the El Aguila gold and silver project in Argentina’s Santa Cruz province. This region is Argentina’s leading mining export hub, producing over 680,000 ounces of gold and more than 15 million ounces of silver in 2023 alone.

The El Aguila project spans a substantial 9,124 hectares and is strategically positioned adjacent to five operating gold and silver mines, benefiting from excellent infrastructure, accessible terrain, and a skilled local workforce. These factors collectively reduce logistical challenges and enhance the potential for efficient exploration and development.

Geological Potential and High-Grade Mineralisation

The project lies within a geologically favourable 'failed caldera' environment characterized by ring and radial fractures hosting low-sulphidation epithermal quartz veins, stockworks, and breccias. This setting is conducive to significant gold and silver mineralisation, as evidenced by over 100 high-grade surface samples. Remarkably, some samples have returned exceptional grades up to 174.58 g/t gold and 4,739 g/t silver, underscoring the potential for large-scale, high-grade deposits.

Historical drilling programs, including 62 holes totaling over 8,000 meters, have confirmed high-grade intersections near surface, such as 0.55 meters at 40.55 g/t Au and 107 g/t Ag, and 7 meters at 2.48 g/t Au with a 1.7-meter interval at 9.02 g/t Au. Despite these encouraging results, exploration below 100 meters remains limited, with nine unexplored targets identified, suggesting considerable upside potential.

Planned Exploration and Development Pathway

Battery Age is preparing for a comprehensive exploration program commencing in the first quarter of 2025. Initial activities will focus on detailed geological mapping, structural interpretation, and integration of existing data into a 3D model to refine drill targets. This will be followed by soil sampling, trenching, and geophysical surveys including LiDAR, magnetic, and potentially induced polarization surveys. Pending permitting and land access, the company aims to initiate its maiden drilling campaign in the latter half of 2025.

CEO Nigel Broomham highlighted the significance of the acquisition, stating, "Securing the farm-in to earn up to 80% to 100% of the El Aguila project is a significant milestone for Battery Age, positioning us in one of Argentina's most productive mining regions. The project's geological setting, combined with the high-grade surface samples we've identified, demonstrates its tremendous potential for large-scale gold and silver mineralisation."

Portfolio Diversification and Financial Strategy

The El Aguila project complements Battery Age’s existing assets, including the Falcon Lake Lithium Project in Canada and the Bleiberg Germanium Project in Austria, enhancing the company’s diversified mineral exploration portfolio. Concurrent with the farm-in agreement, Battery Age is conducting a capital raising to support exploration activities, signaling a proactive approach to funding and project advancement.

The Farm-In Agreement outlines staged cash payments totaling US$175,000 and exploration expenditure commitments of US$2.8 million to earn an 80% interest, with options to acquire full ownership or enter a joint venture with Fredonia Mining Inc. This structure balances risk and reward, allowing Battery Age to methodically unlock the project’s value.