Lithium Evaluation of NT Pegmatite Mines Underway
Adelaide, Mar 30, 2016 AEST (ABN Newswire) - Core Exploration Ltd (
ASX:CXO) is pleased to announce that lithium evaluation and testing of the numerous historic mine workings has commenced on the Finniss Lithium Project near Darwin in the Northern Territory.
Highlights:
- Core has commenced lithium evaluation and testing of the numerous historic pegmatite mine workings in the lithium prospective pegmatite fields in the Northern Territory
- Evaluation will initially focus on Core's Finniss Lithium Project that includes the Mount Finniss Tin Tantalum Mine - the largest historically producing tin and tantalum pegmatite mine in the NT
- Core's lithium focussed work will be the first systematic evaluation of these mines and surrounding tenements for lithium
- Spodumene and other lithium minerals have been previously identified in the Bynoe pegmatites, but historical mining and exploration focussed on the associated tin-tantalum mineralisation
- A further 25 historic tin tantalum pegmatite mines in the lithium prospective Bynoe Pegmatite Field are to be evaluated over the coming months
Evaluation Works
Core has commenced sampling and evaluation of the mine workings, dumps and tailings in and around the numerous historic pegmatite mines within the Finniss Lithium Project. The evaluation works will expand in the coming weeks as the field season opens up and the current wet season comes to an end, and will continue throughout April and May 2016.
Preliminary geological mapping of pegmatites and characterisation of mineral and geochemical zoning will also be undertaken during this field work.
Core's lithium focused work is the first systematic evaluation of these mines and surrounding tenements for lithium as there has been no evaluation of the lithium potential of the area given all of the historical work was primarily focused on tin-tantalum.
Core's field work will also run in parallel with the collation and evaluation of 100 years of historic mine plans and mine operation reports.
Bynoe Tin Tantalum-Lithium Field
The Finniss Lithium Project encompasses a large landholding in the Bynoe Tin Tantalum-Pegmatite Field. The Bynoe field is one of the most prospective areas for lithium in the NT and has many similarities to Greenbushes in WA, one of the world's largest spodumene deposits.
As with Greenbushes, before economic lithium was recognised, Bynoe also has a 100 year history of tin and tantalum production. It is also evident that the lithium bearing pegmatites in the Bynoe region are zoned with the economic tin and tantalum mineralisation and other strong lithium indicator elements including caesium, rubidium and beryllium.
Core's project area covers over 200km2 and 25 historic pegmatite mines (Table 1, see link below), including the Bynoe pegmatite field and the Mount Finniss Tin Tantalum Mine - the largest historically producing tin and tantalum pegmatite mine in NT (Figures 1-3, see link below).
The strong endowment of tin and tantalum in pegmatites at the Mount Finniss Mine and surrounding area suggest excellent potential for lithium mineralisation.
The majority of the known deposits and associated pegmatites were discovered by prospectors in the early 1900's or during an extensive exploration phase for tin and tantalum by Greenbushes Ltd in the 1980's. Very little exploration has been undertaken since the work done by Greenbushes some 30 years ago.
Although spodumene and amblygonite have been reported at several prospects in the Bynoe Field, exploration for lithium in the Bynoe region is still in its infancy.
The Bynoe region has substantial infrastructure advantages being close to sealed road, grid power, gas and rail infrastructure and within easy trucking distance to Darwin Port - Australia's nearest port to Asia.
To view tables and figures, please visit:
http://abnnewswire.net/lnk/P1020LL4
About Core Lithium Ltd
Core Lithium Ltd (ASX:CXO) is an emerging lithium producer focused on development of its Finniss Project near Darwin in the Northern Territory. Core owns 100% of Finniss, a major developing project that lies close to existing infrastructure such as the Darwin Port, grid power, gas and rail infrastructure.
The Finniss Project covers a 500km2 tenement holding and 25 historic pegmatite mines. The project area is about 80km from Darwin Port. Exploration work has generated a near term development timeline, with feasibility studies to be completed over the course of 2018 ahead of receipt of approvals in early 2019 and planned first production during 2019.
An aggressive exploration program is under way, which has confirmed the high quality prospectivity across much of the Finniss Project area. Core's stated ambition is to upgrade Finniss' resource base to fast-track commercialisation options.
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