Core Lithium provides Finniss exploration results

Australian lithium miner Core Lithium (ASX: CXO) today reported encouraging assay results from the drilling of near mine lithium targets at the Finniss lithium project near Darwin, NT.

HIGHLIGHTS:

• Promising results from drilling at the Hang Gong and Bilatos prospects close to existing Finniss operations
• Far West and Hang Gong are adjacent to the Grants DMS processing plant and Bilatos is within trucking distance 22km south
• Shallow mineralisation confirmed at Bilatos
• Selected drill intersections include:
  • Bilatos: 61m @ 0.87% Li2O in SRC094 (from 48m), Incl 8m @ 1.57% Li2O (from 83m and 8m @ 2.01% Li2O in SRC087 (from 50m)
  • Far West: 12m @ 1.66% Li2O in FRC300 (Far West Central) from 124m and 8m @ 1.56% Li2O in FRC299 (Far West North) from 137m
  • Hang Gong: 11m @ 1.36% Li2O in FRC345 (from 179m), 7m @ 1.86 Li2O in FRC346 (from 157m) and 10m @ 1.35% Li2O in FRC351 (from 182m)

At the beginning of the 2022 dry season, Core committed to undertaking a large program of RC and diamond drilling, with up to 4 drill rigs on site. Drilling has focussed on testing along strike and below existing deposits, as well as testing new targets. Drilling is still in progress, and diamond drilling will continue during the wet season at suitable locations.

Core’s CEO Gareth Manderson said:

“The RC and diamond drilling results are encouraging and demonstrate that the additional investment in the drilling program at Finniss in 2022 is the right approach for the exploration strategy. The near mine prospects targeted by drilling present a potential pathway to additional spodumene for the Grants DMS plant.

“Far West, Hang Gong and Bilatos represent further upside potential for the Finniss Project and we have planned an expanded exploration program for 2023.”