BP33 drilling delivers outstanding results for Core Lithium
Advanced Australian lithium developer, Core Lithium Ltd (Core or Company) (ASX: CXO), is pleased to provide an update on recent exceptional drilling results and exploration activities at the BP33 Deposit, part of the Finniss Lithium Project (Finniss Project) near Darwin in the Northern Territory.
BP33 continues to deliver world-class high-grade lithium intersections with 66.88m @ 1.78% Li2O in NMRD030, including:
16m @ 2.27% Li2O; and
9m @ 2.24% Li2O
Multiple drill intersections below southern BP33 pegmatite with the orebody open at depth
Spodumene bearing pegmatite extends at depth to the south with indications that thickness and grade improve with depth
Intersections outside of the current Mineral Resource at BP33 expected to deliver substantial orebody extensions
Trial Geophysical (ANT) survey at BP33 successfully images pegmatite to 500m depth
Diamond drilling at BP33 commenced in May, with assays now starting to be received by the Company. A total of three deep diamond drill holes have intersected the main BP33 mineralisation at depths of up to 470m below surface.
A further five diamond holes have intersected variable thicknesses of mineralised pegmatite associated with the southern BP33 body at depths below any previous drilling and up to 420m below surface.
Geological logging of theses holes has confirmed that spodumene bearing pegmatite extends at depth to the south with indications that thickness, and grade may improve with depth. Although the main and southern bodies are currently modelled as separate entities, the location of this drilling also provides support that they are likely continuous.
The true thicknesses of the intersections are approximately two thirds of those shown (i.e. downhole intersection of 67m equals true thickness of approximately 45m). The continuity in grade and thickness displayed, together with the position of the intersections outside or on the boundary of the current Mineral Resource envelope, is expected to result in an increase in the Mineral Resource estimate for BP33.
Core Chairman Greg English commented: “The BP33 orebody appears to be getting better at depth with 66.88m @ 1.78 Li2O, an outstanding result. We are in the middle of our largest ever drill campaign and these latest results more than justify our decision to expand our exploration efforts.
“BP33 south is open at depth with the Ambient Noise Tomography (“ANT”) survey identifying additional targets at the deposit. The timing of these outstanding results could not have been better, with the final mining approval for BP33 expected in the coming weeks.
“These new world-class lithium drilling results reflect the confidence Core has in delivering significant resource growth from Finniss that will add to our life of mine and our capacity to materially increase lithium production from northern Australia in the future to keep up with rapidly growing global demand.”
Core is presenting at Diggers and Dealers in Kalgoorlie today. You can view their latest presentation here.