There's been plenty of activity in the ASX lithium industry on Monday.
For example, the two ASX lithium shares listed below are on the move after the release of announcements.
Here's what's happening with these lithium shares:
Battery Age Minerals Ltd (ASX: BM8)
The Battery Age Minerals share price is fetching 49 cents at the time of writing. This represents a 22% increase on the lithium explorer's listing price of 40 cents.
Battery Age Minerals was formerly known as Pathfinder Resources. It was removed from listing in 2020 after a period of two years of continuous suspension from trading. Today, it has returned under its new name after completing a public offer which raised $6.5 million at 40 cents per share.
The company secured a diversified project portfolio last year to reposition as an international explorer focused on future-facing commodities with the acquisition of three premium assets in Tier-1 locations. This includes the Falcon Lake Lithium Project in the Thunder Bay mining jurisdiction of north-western Ontario, Canada.
Patriot Battery Metals Inc (ASX: PMT)
The Patriot Battery Metals share price is up almost 19% to $1.97. This follows the release of promising drilling results from the wholly owned Corvette Property in the James Bay Region of Quebec.
The ASX lithium share reported that the first eight drill holes have intersected various widths of spodumene pegmatite, ranging from approximately 8m to 132m. This has extended the strike length of the CV5 Pegmatite body by an additional 400m along strike eastwardly.
Patriot Battery Metals' President, CEO and Director, Blair Way, commented:
We are off to a great start with drilling at the CV5 Pegmatite in 2023. We are collaring at wide step-outs of 100 m on this first series of holes to the east and have now extended the principal spodumene pegmatite body at least another 400 m (drill hole CV22-093 to CV23-108), based on geological logging of drill core. With four drill rigs now active on site, and earlier than anticipated, we will continue to advance aggressively as we look ahead to an initial mineral resource estimate targeted for the first half of 2023.
