Emerging lithium producer Core Exploration (ASX: CXO) is further buoyed by several new high-grade intersections returned from the current RC drilling program underway at BP33. Core’s most recent phase of drilling has focused on the potential southern extension of the current resource and infill at BP33 and has achieved a number of outstanding intersections. The current extensional drilling at BP33 will be incorporated into a new Mineral Resource estimate in the coming months and is expected to have a positive impact on estimates.
HIGHLIGHTS
- Wide and high-grade lithium assay results continue at BP33 Prospect from RC drilling designed to grow the existing resource base:
- 63m @ 1.50% Li2O from 76m (FRC 169)
- 43m @ 1.78% Li2O from 157m (FRC166) including:
- 10m @ 2.00% Li2O from 159m
- 59m@ 1.59% Li2O from 198m (FRC 174) including:
- 25m @ 2.00% Li2O from 222m
- The wide spodumene intersections indicate an increased thickness and grade down-plunge;
- Additional RC drill assays pending from BP33;
- Follow-up phase of diamond drilling to re-commence shortly at BP33 ahead of new resource estimation;
- Second round of resource extension RC/DD drilling is advancing well at Grants;
- Exploration RC rig has recently commenced drilling at Sandra’s prospect
Emerging Australian lithium developer, Core Exploration Ltd (ASX: CXO) (“Core” or the “Company”), is pleased to announce several new high-grade intersections returned from the current RC drilling program designed to grow the existing resource base at the BP33 Prospect within Core’s 100%-owned Finniss Lithium Project near Darwin in the Northern Territory.
Core’s most recent phase of drilling has focused on the potential southern extension of the current resource and infill at BP33 and has achieved a number of outstanding intersections including:
• 43m @ 1.78% Li2O from 157m (FRC166) including:
o 10m @ 2.00% Li2O from 159m and 9m @ 1.35% Li2O from 207m
• 47m @ 1.30% Li2O from 65m (FRC168)
• 63m @ 1.50% Li2O from 76m (FRC169)
• 17m @ 0.98% Li2O from 199m (FRC172) and 21m @ 1.47% Li2O from 239m
• 59m @ 1.59% Li2O from 198m including (FRC174):
o 25m @ 2.00% Li2O from 222m and 12m @ 1.11% Li2O from 182m
The current extensional drilling at BP33 will be incorporated into a new Mineral Resource estimate in the coming months and is expected to have a positive impact on estimates.
Similarly, new drilling positioned within the currently defined Resource at BP33 is expected to enable an upgrade in the classification of the BP33 Mineral Resource to higher confidence categories. The drilling demonstrated that BP33 continues and appears to increase in width and grade at depth immediately south of the current Resource area.
In the very south of the deposit, drill intersections of pegmatite tend to become broken up by intervals of host rock, so it would appear that the pegmatite changes from a coherent tabular body to a segmented series of narrower sheets, dipping at between 75 and 45 degrees to the east.
Holes in the far south that were testing for continuation in that direction showed that indeed it continues but is thinner and less mineralised.
