Drilling of New Targets Near Grants Lithium Resource
Adelaide, Aug 30, 2017 AEST (ABN Newswire) - Core Exploration Ltd (
ASX:CXO) ("Core" or the "Company") is pleased to announce that drilling of new pegmatite targets close to the high-grade Grants lithium resource has commenced, within the Company's 100% owned Finniss Lithium Project near Darwin in the NT ("Finniss").
HIGHLIGHTS
- Drilling programs have commenced on new pegmatite targets close to the high-grade Grants Lithium Resource within Core's Finniss Lithium Project near Darwin, NT
- Multiple new pegmatite targets in the Grants area identified from a combination of ground penetrating radar technology and RAB/Aircore drilling
- Additional shallow RAB drilling to refine pegmatite geometry has commenced this week
- RC drilling of priority pegmatite targets around Grants to commence immediately following RAB drilling
- RC drill assays expected 4-weeks after completion of drilling
The drilling program will consist of approximately 2,500m of RAB drilling and will immediately be followed by RC drilling of priority pegmatite targets identified from the RAB program.
The pegmatite targets for this program were identified from a combination of ground penetrating radar technology and shallow RAB/Aircore drilling.
Core initiated a trial of the innovative Ground Penetrating Radar (GPR) system at Finniss during July and August. Trial results were deemed sufficiently encouraging to pursue a small roll-out in several areas around Grants.
A series of NS-trending sub-vertical features similar to the Grants Pegmatite have been identified in the GPR data to the west of Grants (see Figure 1 in the link below). These features correlate well with previous RAB drilling that has picked up near-surface pegmatites at Grants West (see Figure 2 in the link below).
Core is commencing RAB drilling this week to test these targets and RC drilling of priority pegmatite targets is planned to commence immediately after completion of RAB.
Ground Penetrating Radar (GPR) survey
Loza Radar Australia was contracted to undertake a trial of its innovative GPR system at Finniss in two stages over July and August. In all, 69 lines of 100-500m length (25 km total) were rolled out at various prospects at Finniss, including Grants and Grants West. Various configurations were trialed to establish the optimal outcome. Only the data from July has been processed and interpreted and is presented in this announcement. Results of the August survey are expected in the coming week.
The GPR is able to detect the near surface features of Grants Pegmatite and in some cases, is also able to penetrate down to 200m to image the lithified pegmatite body in contact with sediment host rocks. The data has been validated with the previous RC drilling at Grants.
During the interpretation process, the data for the Grants prospect, extending to Grants West, was integrated with RAB data so as to map possible subsurface pegmatite targets outside of the current resource.
The GPR data correlates well with the known high-grade ore body at Grants, and although not always consistent, the data often supports surface showings of weathered pegmatite encountered in Aircore/RAB drilling (see Figures 1 and 2 in the link below).
GPR data also support the theory that the Grants pegmatite plunges to the south and may have a subjacent feeder body to the SE. This concept will also be drill tested in due course.
Core expects that further new targets will be generated once the August GPR data has been processed and interpreted, including north and south of Grants.
To view tables and figures, please visit:
http://abnnewswire.net/lnk/FK4O5YEK
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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