Advanced lithium developer Core Lithium (ASX: CXO) today announced that resource estimation drilling has recommenced on the Finniss Lithium project near Darwin in the Northern Territory.
HIGHLIGHTS:
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Resource expansion drilling has re-commenced at Core’s Finniss Lithium project.
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Drilling targeting open extensions of the Grants and BP33 orebodies.
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First diamond drill rig has arrived and has commenced drilling operations.
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Second diamond rig to arrive in the coming week.
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Drilling is targeting further increases to Core’s Mineral Resources and Ore Reserves and focussed on the potential to further increase Life of Mine at the Finniss Lithium project.
Recent mine planning and resource assessment studies have highlighted valuable opportunities to further extend Mineral Resources and Ore Reserves at the Grants and BP33 deposits, particularly in light of efficient underground mining methods verified in the Pre-Feasibility Study (PFS).
Notably, the last holes drilled at BP33 showcased an outstanding lithium intersection of 107m @ 1.70% Li2O that is open along strike in both directions and at depth. The orebody at Grants is open below the intersection of 48m @ 1.59% Li2O from 224m.
The 4,000m-5,000m resource expansion drilling program has commenced and is expected to be completed in November.
Core’s mining engineering team is currently working to optimise the depth of the Grants open pit to complement an extended underground mining operation to exploit the deeper extents of the Grants orebody, which has the potential to reduce the stripping ratio and capture more of the Grants orebody.
