Core Lithium (ASX: CXO) today announced a series of significant new gold discoveries from the company’s wholly owned Bynoe gold project in the Northern Territory.
HIGHLIGHTS:
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Over 80 gold nuggets at up to 5 grams in size found within a newly discovered extensive gold-in-soils anomaly at the Bynoe Gold Project, NT.
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Four new prospects identified across a 1,600m gold trend:
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Windswept
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24g/t Au rock chips
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Abundant gold nuggets
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Multiple quartz veins with oxides/sulphides, visible gold
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Hurricane
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21g/t Au rock chips
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5g/t Au in soils
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Multiple quartz veins with oxides/sulphides, visible gold
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Congo
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30g/t Au rock chips
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32g/t Au soils
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Multiple quartz veins with oxides/sulphides, visible gold
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Gold nuggets
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Far East
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14g/t Au rock chips
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12g/t Au soils
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Multiple thick quartz veins with oxides/sulphides, visible gold.
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Up to 32g/t1 gold-in-soils and 11 samples above 1,000ppb Au (1g/t).
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Five rock chips grade above 10g/t Au and 17 samples above 1g/t Au.
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Core has mapped a 100-150m wide series of sulphide-rich, goldbearing quartz veins along the trend.
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Gold also hosted in sedimentary rocks including graphitic schist and quartz-pebble conglomerate.
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Short RAB drilling program underway before year end as first test for gold mineralisation below surface in this new sizeable and significant gold system.
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Significant gold prospectivity of the Bynoe Gold Project continues to build and be substantiated through cost effective exploration.
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Core remains focused on delivering Australia’s next lithium project – 3 drill rigs to successfully complete 2020 lithium resource drilling this month at Finniss.
In recent weeks, soil sampling, regional mapping and reconnaissance rock chip sampling have led to the discovery of a series of exciting new gold prospects in the northern part of the Bynoe Project tenements.
These four new gold prospects link together as a series of steep-dipping, north-striking sulphide rich and gold-bearing quartz veins hosted within silicified and sulphide-altered metasedimentary rocks of the Burrell Creek formation.
Over gold 80 nuggets measuring at up to 5 grams have been recovered by detecting work carried out by the Core field team.
An extensive soil sampling grid has also been collected along the trend and highlights regular high-grade gold-in-soils, including 11 samples above 1g/t gold.
Core’s Managing Director, Stephen Biggins, said: “We see these recent discoveries as the most significant evidence of large-scale gold mineralising systems at play in the Bynoe Gold Project to date.
“While the area has not previously been explored for gold, it is not surprising how much gold we are finding in only our first few months of exploration, given that this region hosts over 13Moz of gold and has produced between 4Moz-5Moz of gold.
“With Core’s three lithium resource drill rigs having successfully completed assigned work at the Finniss Lithium Project nearby, Core will now conduct its first shallow gold drilling program before year end on these new prospects to test this large gold trend for gold mineralisation below the surface.
“Whilst we keep receiving positive gold results at Bynoe, Core remains absolutely focused on delivering Finniss as the most advanced lithium project in Australia toward construction in 2021, and we are pleased to see early global signs of recovery in the sector.”