Core Lithium receives more highly encouraging results at BP33 ahead of DFS

Core Lithium receives more highly encouraging results at BP33 ahead of DFS

Emerging Australian lithium developer, Core Lithium Ltd (ASX: CXO) has announced new high-grade lithium results from drilling at the BP33 deposit within the wholly-owned Finniss Lithium Project. The latest results come ahead of Core completing the Definitive Feasibility Study (DFS) for Finniss, which is expected to be released in the next few weeks.


Emerging Australian lithium developer, Core Lithium Ltd (ASX: CXO) has announced new high-grade lithium results from drilling at the BP33 deposit within the wholly-owned Finniss Lithium Project, located near Darwin in the Northern Territory.

HIGHLIGHTS

· New drill results from BP33 confirm the consistent, wide and high-grade nature of the spodumene pegmatite orebody at BP33;

· New results include:

· 76m @ 1.78% Li2O from 149m (FRC205),

· including 21m @ 2.06% Li2O from 202m

· 51.75m @ 1.72% Li2O from 269m (FDD008);

· Inclusion and contribution of BP33 to the Definitive Feasibility Study (DFS) strengthens economics of Finniss Project);

· Core is completing final compilation and review of the DFS over the next few weeks;

· DFS to be released in April 2019.

Drill intersections include outstanding lithium grades approximating 1.8% Li2O over broad intersections exceeding 70m in length, confirming the consistent and high-grade nature of the BP33 lithium orebody.

The latest results come ahead of Core completing the Definitive Feasibility Study (DFS) for Finniss, which is expected to be released in the next few weeks.

These exciting new results are from a short RC and diamond drilling campaign carried out last month at BP33. These last results from BP33 are important to increasing the high level of confidence in the orebody and the accuracy of the input and outcomes of the DFS.

Core is in final stages of studies to enable completion of the DFS. These last stages of work will be completed over coming weeks, to enable the Company to be in a position to release the DFS report before the end of April.

The Finniss Project comprises over 500km2 of granted tenements over the Bynoe Pegmatite Field, near Darwin. Exploration and Mineral Resource drilling to date have confirmed that potential ore-grade lithium mineralisation is widespread within the Finniss Project, and Core’s drilling in 2018 and into early 2019 has the potential to substantially grow the Mineral Resource base to underpin a potential long-life lithium mining and production operation.

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