Core Lithium (ASX: CXO) today announced significant assay results from ongoing gold exploration at the Company’s wholly owned Bynoe gold project in the Northern Territory.
Gold assays up to 20 g/t Au in rock chips at newly defined Kellermeister and Rosella Prospects.
Gold occurs in sulphide-bearing quartz veins up to 15m wide and 100m long.
Vein systems are open to the north and northeast, where similar targets have been defined.
Mapping, soil sampling and rock chip sampling at these and other similar targets is ongoing.
Further assay results expected in the coming weeks.
Low-cost field investigations continue to uncover new targets and prospects.
Gold prospectivity of the Bynoe Gold Project continues to build and be substantiated.
In recent weeks, regional mapping and reconnaissance rock chip sampling have led to the discovery of some exciting gold prospects, including Covidicus West, Pickled Parrot, Piper North and Far East. At each of these prospects, gold-bearing sulphide and locally visible gold and gold nuggets occur along a large quartz vein systems.
At the new Kellermeister Prospect, rock chips assayed up to 20 g/t Au, and several samples from the nearby Rosella Prospect are above 1 g/t Au.
Given the reconnaissance nature of the sampling program and the limited number of samples collected at these new prospects, these results are considered an excellent first pass outcome.
Kellermeister prospect covers a broad zone of quartz veining, quartz breccia and intermingled quartz-schist host rock, comprising graphitic schist and conglomerate. Fractures and irregular 1-5 cm diameter “blebs” are filled with limonite and haematite that are interpreted to be the result of weathering of sulphides.
The Company was led to the Kellermeister area by elevated soil-gold assays that emanated from Core’s pulp re-assay program, which is bearing significant fruit.
Only eight samples were collected at Kellermeister during the brief field investigation, and four of these are above 50 ppb, peaking at 20 g/t. Similarly, at Rosella, only two samples were collected, and both are above 1 g/t. Quartz veins to the northeast (Rosella North) are thought to be semi-continuous, and three samples were found to be at background levels.
Core has recently completed a second round of rock chip sampling and several lines of soil samples across both prospects, based purely on the similarity of veins to Covidicus West. Results are expected in the coming weeks.
Core believes the potential of the BBF Gold Field and Bynoe Gold Project is only just starting to be understood.
Core’s Managing Director, Stephen Biggins, said: “Core continues to uncover new gold prospects using low-cost field-oriented programs. It appears likely that continuation of this program in concert with more detailed exploration will result in even further prospects in what is evolving into a significant new gold province.
“Further assay results from Core’s recent mapping, rock chip and soil sampling are expected over the coming weeks and months. A number of the target areas are also accessible into the early wet season, enabling the Company to maintain gold exploration momentum after lithium resource drilling at Grants has ceased.
“Whilst we keep receiving positive gold results from our work in the Bynoe Pegmatite Field, Core remains absolutely focused on delivering Australia’s next lithium project by developing the Finniss Lithium Project near Darwin in the Northern Territory.”