Advanced Australian lithium developer Core Lithium Ltd (ASX: CXO) is pleased to provide an update on exploration activities and results from the Finniss lithium project, near Darwin in the Northern Territory.
This update provides results and assays for drilling undertaken at the BP33 deposit throughout the 2021 field season.
Drilling continued to deliver broad and high-grade lithium intersections. Two recent deep diamond drill holes at BP33 produced high-grade spodumene-rich intersections including:
- 57.35m @ 1.83% Li2O in NMRD016
- 51.0m @ 1.63% Li2O in FRCD023
Additional reverse circulation and diamond drilling also identified a significant southern extension to the spodumene-bearing pegmatite at BP33. Intersections outside of the current Mineral Resource at BP33 are expected to deliver substantial extensions.
Further drilling is planned at BP33 for the coming field season while the expanded exploration and resource drilling will recommence and ramp up in early Q2 2022 across the entire Finniss project.
“Our prime directive is to deliver first production of high-quality lithium concentrate from the Finniss Project this year in the midst of a very high lithium price and high operating margin environment,” managing director Stephen Biggins said.
“These new world-class lithium drilling results reflect the confidence Core has in delivering significant resource growth from the Finniss project 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.”