Core Exploration – New High-grade Assay Results – Grants Lithium Resource

Emerging lithium producer Core Exploration (ASX: CXO) has announced the return of wide, high-grade intersections confirming the discovery of significant extensions to the Grants lithium deposit, part of the company’s wholly-owned Finniss project near Darwin. New drilling results are located outside of the existing defined Mineral Resource at Grants and highlight the potential to immediately grow the currently defined Mineral Resource at the deposit.

HIGHLIGHTS

• Multiple new high-grade lithium intersections outside the Mineral Resource at Grants include:
  • 67m @ 1.57% Li2O from 191m in FRC151
    • Including 16m @ 2.17% Li2O
• And 12m @ 2.08% Li2O
  • 45m @ 1.72% Li2O from 188m in FRC154
    • Including 22m @ 2.09% Li2O
      • 45m @ 1.72% Li2O from 142m in FRC159
        • Including 16m @ 2.03% Li2O
          • 30m @ 1.70% Li2O from 206m in FRC153
            • Including 2m @ 2.12% Li2O
• New assays confirm significant extensions directly south along strike and at depth at Grants – outside of the existing defined Mineral Resource.
• These extensions demonstrate the potential to further increase the size of the Mineral Resource and ine life at Grants, which is expected to have material positive impact on the financial returns from development of the proposed 1Mtpa Finniss Lithium Project.
• Drilling underway at BP33 and first assays expected in coming weeks.
• Drilling then to recommence at Grants to test further down plunge

Regional exploration drilling continues within the larger Finniss Lithium Project with results expected from Carlton, Hang Gong, Highland and Far West Central expected next month

Emerging lithium developer Core Exploration Ltd (ASX: CXO) (“Core” or the “Company”) is pleased to announce the return of wide, high-grade intersections confirming the discovery of significant extensions to the Grants Lithium Deposit, part of the Company’s wholly-owned Finniss Lithium Project, located near Darwin in the Northern Territory.

New drilling results are located outside of the existing defined Mineral Resource at Grants and therefore highlight the potential to immediately grow the currently defined Mineral Resource at Grants (Figure 1), which underpins the strong economics of the recent PreFeasibility Study.

The average grades of the new significant extensions intersected at Grants are above the Mineral Resource grade of 1.5% Li2O and include wide intervals up to 22m, grading >2% Li2O.

These new intersections are expected to add to the existing Mineral Resource at Grants and highlights that the spodumene pegmatite orebody is open along strike and down-plunge to the south (Figure 1).

These extensional targets at Grants will be the focus of the next round of drilling once the RC rig has completed drilling at BP33.