Red Dirt Metals Limited announced an update for exploration activities at its 100% owned Yinnetharra Lithium Project ("Yinnetharra" or the "Project") in the Gascoyne region of Western Australia. With more than 3,000 samples now with the lab, the results are expected to significantly add to the Company's geological understanding of the Project. Since acquiring Yinnetharra in September 2022, the Company has completed 59 drill holes (29 diamond and 30 RC) for a combined 12,119 metres exploring for ore grade (>1% Li2O) pegmatites.

Contractors have been able to consistently achieve ~4,000 metres per month in this significant campaign. On the strength of these initial results to date, the Company will now accelerate drilling to ~20,000 metres per month. First pass diamond drilling at Yinnetharra has been completed to understand the structure of the pegmatites.

Information was gathered on the direction of trend and how the pegmatites plunged and repeated in a stacked sequence at depth, as well as the broader geological controls within the Project. The Company has only received results from one hole prior to this release, as announced 20 January 2023; YNRD005, 55.6 metres at 1.12% Li2O from 94 metres including; 15 metres at 1.52% Li2O from 95 metres, 15 metres at 1.36% Li2O from 118.8 metres and 12.4 metres at 1.22% Li2O from 137.2 metres. Preliminary metallurgical samples are being prepared from diamond core for the M1 and M47 pegmatites.

Extensional drilling is ongoing at the M1 pegmatite. The M1 pegmatite dips moderately to shallowly to the south, is open in all directions and has been intercepted over a strike length of greater than 650m and a down dip extent of greater than 350m. Drilling has been undertaken on a 160 x 80m spacing with the mineralised pegmatite being very consistent over this range.

Narrow unmineralized pegmatite zones have been identified with a consistent shallow east plunge, but recent drilling has shown that mineralisation is present above and below these zones, e.g. YNRD007 14.9m @ 1.12% Li2O which is interpreted to intercept below an unmineralised zone and YNRD005 55.6m @ 1.12% Li2O which is interpreted to intercept above an unmineralized zone. Poor drilling recovery was encountered in weathered pegmatites within YNRD001 and YNRD002, which will have impacted the intercept length and tenor over the reported intervals. Preliminary framework drilling has been completed at the M47 pegmatite and a dedicated RC rig is to commence drilling in early to mid-March.

The M47 pegmatite has delivered some very promising results from surface including the 35m @ 1% Li2O from 5m YNEX004 reported in this announcement. RC drilling will be undertaken on an 80x40m spacing once the dedicated RC rig arrives in March. The M47 pegmatite dips shallowly to the Southeast, with other steep north dipping pegmatites identified in addition to this.

Work is ongoing to understand the extent to which the steep dipping pegmatites are mineralised. Limited drilling has identified this over a 400m of down dip extent. Very coarse spodumene has been identified in YNEX005 from surface.

YNEX004 and YNEX005 also had low drilling recovery at the surface. There is a possibility the M36 and M47 pegmatites are the same pegmatite sheet, they have the same dip and dip direction.