Emerging lithium producer Core Exploration (ASX: CXO) has received exploration results from drilling between its Lees and Booths prospects, which support the exploration model that the two prospects are geologically linked. All 10 holes contain at least one pegmatite intersection in the range of 6-23m thick.
HIGHLIGHTS
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Pegmatite intersections in all 10 step-out holes at Lees and Booths support the concept of continuous linking pegmatites between the two prospects
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Multiple pegmatites variable mineralised with spodumene intersected over 1,000m strike length
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Pegmatite widths of up to 23m and dipping at 45 degrees support potential for a low-strip ratio open pit mining operation
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Further infill drillholes planned to enable mineral resource estimation at Booths-Lees
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Booths-Lees Link interpreted to be a concealed pegmatite swarm with potential to materially up-scale the Finniss Project resource inventory
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Results expected throughout the remainder of 2018 from ongoing exploration drilling programs at the Finniss Lithium Project
Emerging Australian lithium developer, Core Exploration Ltd (ASX: CXO) (“Core” or the “Company”), is pleased to announce new exploration results for drilling between the Lees and Booths Prospects that supports the exploration model that the two prospects are geologically linked.
Core recently announced that it had compiled evidence of a link between the lithium rich pegmatites at Lees and Booths and immediately commenced a RC drill campaign to test the model. Core’s geologists had sufficient confidence to plan an additional 10-15 holes, of which, the Company has received results from the first 10 that have now been drilled.
All 10 holes contain at least one pegmatite intersection in the range 6-23m thick (Figure 1; Table 1). Most holes contain multiple intersections of pegmatite that can be tied with reasonable confidence to pegmatite intersections in holes along strike and down-dip. This has enabled the construction of a series of cross-sections perpendicular to the strike with a consistent geological pattern of NW-strike and 45 degrees dip to the NE (Figures 1, 2 and 3).
At this stage, each of these sections is constrained by at least two holes and mirror in many respects the better-constrained sections at the Lees and Booths prospects (Figures 2 and 3). While there are currently no assay results received to date for the current round of drilling, based on visual estimates from drill chip samples and results from previous drilling, the pegmatites are expected to be variably mineralised with spodumene.
