Diamond drilling recommenced at Finniss Project further phase 2 RC drill assays expected shortly
Core Exploration Ltd (
ASX:CXO) (“Core” or the “Company”) is pleased to provide an update on its active exploration and drilling programs at the Company’s 100% owned Finniss Lithium Project near Darwin in the NT (“Finniss”).
- Diamond drilling has recommenced at Core's Finniss Lithium Project to follow-up the successful Phase 2 RC program
- Expanded Phase 2 drilling program consisting of ~6,900m of RC drilling was completed in December with drilling continuing up to Christmas
- Phase 2 RC drilling assays results expected to be reported during January and February 2017
- The Company is well funded and will continue to aggressively explore and advance its high grade lithium discoveries in 2017
Recommencement of Diamond Drilling at Finniss Lithium Project
Core today re-commenced drilling at Finniss with diamond drilling currently underway at the high grade Grants Prospect.
The diamond drilling is following up the high grade spodumene mineralisation discovered by Core’s earlier RC drilling programs in 2016, and the Company is currently testing depth extensions of the high grade Grants pegmatite, where Core has been encouraged by continuity and grade of mineralisation visually identified in the drilling to date.
Completion of Phase 2 RC Program
In late 2016, Core completed its expanded Phase 2 RC drilling at Finniss, which consisted of approximately 6,900m of RC drilling, with drilling continuing up until Christmas.
The Company is currently waiting on the assay results from this drilling which are expected during late January and into February 2017. Core will continue to keep the market informed as assays become available.
Finniss Lithium Project Background
Core’s Finniss Lithium Project covers a large portion of the Bynoe Lithium-Tantalum-Tin Pegmatite field (see Figure 2 in the link below).
Core’s drilling at Finniss has intersected high lithium grades and spodumene mineralisation within a number of pegmatites at Finniss.
The Bynoe Field is a 15-20 kilometre wide belt of more than 90 tin and tantalum prospects and mines and lithium rich pegmatites which stretches over a distance of 75 kilometres south from Port Darwin and is one of the most prospective areas for lithium in the NT.
Core’s Finniss Lithium Project has substantial infrastructure advantages being close to grid power, gas, and rail and services infrastructure and within easy trucking distance by sealed road to the multi-user port facility at Darwin Port - Australia’s nearest port to Asia.
To view tables and figures, please visit:
http://abnnewswire.net/lnk/2B8UB8V4
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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