Core Lithium (ASX:CXO) has intersected wide zones of spodumene pegmatite in its recent RC drill program at the Carlton Prospect, part of the Finniss Lithium Project in the NT. All of the drillholes intersected pegmatites of greater than 30m (downhole length), with two of the holes intersecting a second pegmatite body of greater than 25m width. Diamond drilling is planned for the next week with Mineral Resource and Ore Reserve studies over the coming months. The additional mineralisation has the potential to materially impact the economics of Finniss.
Highlights
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Wide intersections[1] of spodumene pegmatite from all completed RC drillholes at Carlton as a result of the recent Mineral Resource growth drilling program at Finniss;
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All pegmatite intersections greater than 30m:
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35m Spodumene Pegmatite (NRC151)
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34m Spodumene Pegmatite (NRC152)
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31m+ Spodumene Pegmatite (NRC154)
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36m Spodumene Pegmatite (NRC156)
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44m Spodumene Pegmatite (NRC157)
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41m Spodumene Pegmatite (NRC158)
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The two deepest holes also intersected a second pegmatite body of up to 25m downhole length, east of the primary body
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Diamond drilling (DDH) tails commencing within the next week
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Potential for Maiden Ore Reserve and Mineral Resource growth at Carlton expected to increase over coming months
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Carlton expected to contribute significantly to an increased mine life at Finniss Lithium Project
Advanced Australian lithium developer, Core Lithium Ltd (Core or Company) (ASX: CXO), is pleased to announce wider than expected spodumene pegmatite intersections from Mineral Resource expansion drilling at its Carlton Prospect, currently being considered for development at the Finniss Lithium Project, located near Darwin in the Northern Territory.
All 6 reverse circulation (RC) drillholes that were completed to target depth at the Carlton prospect intersected spodumene pegmatite of downhole width greater than 31m[1]. The narrowest intercept of 31m related to a drillhole that was abandoned in pegmatite (due to drilling difficulties).
Visual inspection of RC chips under UV light suggests that spodumene grades are in line with or better than previous drilling at Carlton[2].
[1] Downhole intersections are not true widths owing to oblique nature of drill holes, and true with can only be assessed from sectional views. Refer to figures in announcement.
[2] Visual estimations of spodumene grade using UV is at best semi-quantitative and only assay results can be used to provide accurate grades.