Advanced Australian lithium developer, Core Lithium Ltd (Core or Company) (ASX: CXO), is pleased to provide an update on exploration activities and results from the Finniss Lithium Project (Finniss Project) near Darwin in the Northern Territory.
Highlights
- Final assays received from 2021 drilling at the Finniss Lithium Project near Darwin in the NT.
- Mineralisation within southern extension to pegmatite at BP33 confirmed.
- Intersections outside of the current Mineral Resource at BP33, Lees and Hang Gong expected to deliver substantial extensions.
- Exciting results from new Penfolds prospect.
- Resource drilling has recommenced at BP33, with exploration drilling across the Finniss Project to follow in the coming month.
This update provides the final results and assays from lithium exploration drilling undertaken at the Finniss Project throughout the 2021 field season, during which 22,454m of RC drilling and 6,619.8m of diamond drilling was completed.
Assay results are from drilling undertaken to test for a southern extension to the pegmatite hosting mineralisation at BP33, resource extensions to the north of Hang Gong and to the north of Lees as well as a number of regional targets.
Core Managing Director Stephen Biggins commented: “The highly prospective nature of these new lithium drilling results reflect the confidence Core has in delivering further significant resource growth from the Finniss Project that will add to our life of mine and our capacity to materially increase lithium production from northern Australia in the future to keep up with rapidly growing global demand.
“Our prime directive is to deliver first production of high-quality lithium concentrate from the Finniss Project this year in the midst of a very high lithium price and high operating margin environment.
“With the commencement of diamond drilling at the BP33 prospect, we are also excited to be recommencing field work and look forward to further unlocking the longer-term potential of the Finniss Project.”
