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- Core Lithium (CXO) intersects up to 2.27 per cent lithium oxide at the BP33 deposit within the Finniss lithium project in the Northern Territory
- Diamond drilling began in May with three holes intersecting the main mineralisation at depths up to 470 metres and five intersecting variable thickness of mineralised pegmatite
- Logging of the holes confirmed the spodumene-bearing pegmatite extends at depth to the south with indication the thickness and grade may improve at depth
- Further, a trial ambient noise tomography survey was undertaken to test the effectiveness of testing pegmatites at depth with the work identifying multiple unknown targets
- Core is up 5.19 per cent on the market with shares trading at $1.22 at 11:13 am AEST
Core Lithium (CXO) has intersected up to 2.27 per cent lithium oxide at the BP33 deposit within the Finniss lithium project in the Northern Territory.
Diamond drilling began at BP33 in May with three holes intersecting the main mineralisation at depths up to 470 metres and a further five intersecting variable thickness of mineralised pegmatite.
Logging of the holes confirmed the spodumene-bearing pegmatite extends at depth to the south with indication that the thickness and grade may improve at depth.
Results include 66.88 metres at 1.78 per cent lithium oxide including 16 metres at 2.27 per cent lithium oxide, and 27 metres at 1.5 per cent lithium oxide including four metres at 2.02 per cent lithium oxide.
Also in May, a trial ambient noise tomography survey was completed at BP33 by Fleet Space Technologies to test the effectiveness of testing pegmatites at depth.
The survey was successful as it identified multiple unknown targets.
“The BP33 orebody appears to be getting better at depth with 66.88 metres at 1.78 lithium oxide, an outstanding result,” Chairman Greg English said.
“We are in the middle of our largest ever drill campaign and these latest results more than justify our decision to expand our exploration efforts.
“These new world-class lithium drilling results reflect the confidence Core has in delivering significant resource growth from Finniss 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.”
Core was up 5.19 per cent on the market this morning with shares trading at $1.22 at 11:13 am AEST.
