Core Exploration Ltd.: Re-Commences Lithium Resource Drilling at High Grade BP33 Prospect
23.01.2018 | ABN Newswire
Adelaide - Core Exploration Ltd. (ASX:CXO) ("Core" or the "Company") is pleased to announce that drilling has re-commenced in 2018 at its high grade Finniss Lithium Project near Darwin in the NT.HIGHLIGHTS
- Core has recommenced diamond drilling at the High-Grade BP33 Lithium Pegmatite within the Finniss Lithium Project near Darwin in the NT
- Drilling is focussed on establishing an initial JORC Resource at BP33
- Recent High-Grade Lithium drill assays received from RC drilling at BP33 include:
o 62m @ 1.24% Li2O from 66m in FRC104
o 54m @ 1.42% Li2O from 101m in FRC103
- Assays from diamond core drilling completed in December at BP33 are expected in the coming weeks
- Strong flow of assay results expected from BP33, Grants and other exploration targets throughout Q1 2018 as drilling continues within the Finniss Project
Drilling has re-commenced with an initial focus at the high-grade BP33 Lithium Pegmatite. The current and recent diamond drilling at BP33 is aimed at defining the continuity of grade and scale of the spodumene mineralisation to allow for estimation of an initial JORC Resource at BP33. Once defined, BP33 will be the 2nd lithium deposit Core has defined within its broader Finniss Lithium Project, which is located within trucking distance of Darwin Port.
The diamond drill core will also provide valuable information that may be used for metallurgical testwork and geotechnical evaluation at BP33.
Core's recent lithium drill results at BP33 (announced to ASX on 27/11/2017 & 13/12/2017) reflect the widest pegmatite intervals that have ever been drilled at BP33, and amongst the widest spodumene bearing intersections ever drilled in the Northern Territory.
Results from the drilling in late 2017 also confirm that BP33 pegmatite is open along strike both to the north and to the south, and is thicker at depth than expected. The drill intersections from the last holes of 2017 suggested a down-dip doubling of true thickness of the spodumene pegmatite in the north of BP33 (20m at surface vs 40m estimated true width at depth).
Core's diamond drilling at BP33 is planned to continue into early February, when the rig will be moved to the Grants deposit, to commence resource upgrade drilling.
Assay results from diamond core drilling at BP33 (including diamond drilling completed in December 2017) are expected in the coming weeks.
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About Core Exploration Ltd:
Core Exploration Ltd. (ASX:CXO) aims to grow shareholder value through the exploration for and discovery of commercially robust base metal and uranium deposits in South Australia and the Northern Territory. Core Exploration's projects have been carefully acquired in geology which hosts world-class mines and within some of the most prospective geological terrains for base metals and uranium in Australia
Contact:
Stephen Biggins Managing Director
Core Exploration Ltd.
T: +61-8-7324-2987
E: info@coreexploration.com.au