Ragusa Minerals Limited announce that it has commenced diamond drilling exploration works at its NT Lithium Project. The Company is currently on-site and has commenced the first of two diamond drillholes, targeting two parallel pegmatite bodies exposed at surface at the Tank Hill prospect. The drillholes are designed to intersect the pegmatite at approximately 100m vertical depth, using 60° angled drilling Both exposed pegmatite bodies are around 20m to 25m thick at surface (in the immediate location of the drillholes) and are interpreted to be vertically dipping.

A historic diamond drillhole1 (drilled by May Drilling approximately 120m north) intersected the western pegmatite from 45m (37m vertically) to 66m (52m vertically) depth downhole. Laboratory assays for the intersection returned elevated lithium grades peaking at 0.37% Li2O within the lithium depleted weathered zone associated with geologically logged intervals indicating spodumene mineralisation. Pending the results from the planned two drillholes, the Company will target to continue drilling within the prospect area as well as the broader project area, with a continued reverse circulation drilling program (when access can be safely achieved following the wet season).