Core Lithium today announced that assays from the gold re-assay program on the Bynoe Gold Project have resulted in new targets and prospects emerging and existing gold targets being affirmed.
Highlights
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Gold-in-soil assays up to 0.8g/t at newly-defined Pickled Parrot Prospect
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Gold re-assays have expanded the anomalous geochemical halo and the mapped quartz vein system extended to at least 400m long and 100m wide at Golden Boulder Prospect
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New vein systems identified at numerous targets defined by anomalous baseline indicator-element data
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Re-assay results have also generated a number of new targets where there were no previous gold assays
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Mapping, soil sampling and rockchip sampling is on-going
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Further assay results expected soon, including the remaining pulp re-assays and new rockchip and soil sample assays
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Results vindicate Core’s implementation of a low-cost gold reassay and field exploration program
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The Company is considering re-structure of its gold and silver assets as Core Lithium remains focussed on development of the first lithium production project in the NT
Core Lithium Ltd (Core or Company) (ASX: CXO), is pleased to announce assays from the gold re-assay program on the Bynoe Gold Project have resulted in new targets and prospects emerging and existing gold targets being affirmed.
An impressive result of 828 ppb Au in a conventional soil sample originally collected for lithium was received from a new prospect named Pickled Parrot. The prospect was immediately geological mapped by Core and found to be the focus of a series of quartz veins in an area of least 300m in length and 50m wide.
Re-assay of Core’s previous soil samples over the most advanced prospect at Golden Boulder have also expanded the anomalous geochemical halo and the mapped quartz vein system has been substantially revised to extend over at least 400m long and 100m wide.
Re-assay of Core’s lithium-soils from Ringwood Prospects MT07 and Quartz Wall (up to 229 ppb) has firmed up the distribution of gold in those and adjacent areas.
The re-assay results have also generated a number of new targets where there were no previous gold assays, including Far East (up to 150 ppb Au in soils), Piper North (up to 151 ppb Au in soils) and Westwood (up to 96 ppb Au in soils). These prospects are currently being investigated and sampled, and further archived pulps will be assayed for gold.
