Emerging Australian lithium producer Core Lithium (ASX: CXO) says follow-up exploration drill results from the Lees-Booths Link and Hang Gong prospects show significant potential to define further substantial lithium resources at the Finniss lithium project in the NT. An expanded Mineral Resource estimate for the Carlton deposit is also expected next week.
HIGHLIGHTS
-
New high-grade spodumene pegmatite intersections at two prospects expected to result in continued expansion of the Mineral Resource base at the Finniss Lithium Project;
-
Intersections at Lees-Booths Link Prospect include:
-
7m @ 1.09% Li2O from 95m (NRC081)
-
4m @ 1.50% Li2O from 137m (NRC093)
-
-
Mineral Resource estimation will commence on Lees-Booths upon receival of remaining assays;
-
Drill results at Hang Gong Prospect continue to highlight potential for shallow-dipping, multiple stacked pegmatites and include:
-
12m @ 0.94% Li2O from 88m (NRC085)
-
8m @ 1.90% Li2O from 91m (NRC090)
-
-
Updated Mineral Resource estimate expected for Hang Gong in March;
-
Updated Mineral Resource estimate expected for Carlton next week; and
-
New drill assay results to be reported as they come to hand throughout March.
Emerging Australian lithium developer, Core Lithium Ltd (ASX: CXO) (“Core” or the “Company”), is pleased to announce follow-up exploration drill results from the Lees-Booths Link and Hang Gong Prospectsthat demonstrate the significant potential to define substantial additional lithium resources at the Finniss Lithium Project (Finniss), located near Darwin in the Northern Territory.
Lees-Booths and lithium resources at Hang Gong are adjacent to Core’s lithium deposits at Grants, Carlton and BP33 and are all within a 3km radius of each other (Figure 4).
These new and pending assay results are expected to add to an expanded Mineral Resource estimate at Hang Gong, as well as an initial Mineral Resource at Lees-Booths during March. In addition, an expanded Mineral Resource estimate is expected next week for the Carlton Lithium Deposit.
The Finniss Project comprises over 500km2 of granted tenements over the Bynoe Pegmatite Field, near Darwin. Exploration and Resource drilling to-date have confirmed that potential ore-grade lithium mineralisation is widespread within the Finniss Project, and Core’s drilling in 2018 and into early 2019 has the potential to substantially grow the Mineral Resource base to underpin a potential long-life lithium mining and production operation.