- Core Lithium (CXO) has discovered visible gold from surface at the Pickled Parrot Prospect within the Bynoe Gold Project in the Northern Territory
- Pickled Parrot was identified in 2019 via the assay of lithium and re-assay of samples returned up to 0.828g/t gold
- Further sampling has improved the prospectivity of the area, with the gold-in-soil anomaly now peaking at 2g/t gold
- Pickled Parrot was also subject to geological mapping in recent weeks and was found to be subject to a series of quartz veins
- These veins contain iron oxide and arsenopyrite, which are associated with gold mineralisation
- Core is up 8.16 per cent on the market and shares are trading for 5.3 cents each
Core Lithium (CXO) has discovered visible gold from surface at the Pickled Parrot Prospect within the Bynoe Gold Project in the Northern Territory.
Pickled Parrot was identified at the eastern margin of a regional soil line sampled for lithium in 2019.
Re-assay of the soil samples resulted in up to 828ppb (parts per billion), 0.828g/t, gold being identified.
Further sampling has improved the prospectivity of the area with the gold-in-soil anomaly now peaking at 2g/t gold.
Pickled Parrot was also subject to geological mapping in recent weeks and was found to be subject to a series of quartz veins spanning a length of 300 metres and a width of 100 metres.
These veins contain iron oxide and arsenopyrite which are associated with gold mineralisation.
The gold was identified in the east of the prospect and additional samples from that area have been sent to the laboratory for analysis.
New quartz veins have also been mapped and sampled to the southeast where there is no geochemical data.
“To have visible gold at surface at the Pickled Parrot Prospect, in one of the first geological mapping campaigns, is another very promising indication that we are on the right track with this exciting new prospect,” Managing Director Stephen Biggins said.
“We look forward to updating the market as further assay results come to hand,” he added.
Core is up 8.16 per cent on the market and shares are trading for 5.3 cents each at 11:20 am AEDT.