Significant Widths and Grades of Spodumene at Sandras
Adelaide, Dec 19, 2017 AEST (ABN Newswire) - Core Exploration Ltd (
ASX:CXO) ("Core" or the "Company") is pleased to announce new assay results from multiple drill intersections that confirm the potential of the 100%-owned Sandras Prospect to host high-grade spodumene pegmatite. These results from the first drilling program undertaken at Sandras by Core demonstrate the potential for pegmatites other than BP33 and Grants within the Finniss and Bynoe Lithium Projects to have significant spodumene grades and thicknesses.
HIGHLIGHTS
- New High-Grade Lithium drill assays received from the recent RC drilling at Sandras Prospect include:
o 27m @ 1.45% Li2O from 195m in SRC006
-- including a high grade interval of 7m @ 2.13% Li2O from 201m.
o 38m @ 1.08% Li2O from 94m in SRC002
-- including 8m @ 1.86% Li2O from 95m
o 19m @ 1.28% Li2O from 106m in SRC008
-- including 5m @ 1.89% Li2O from 111m
- New high-grade lithium intersections from Core's first drilling at Sandras confirm that there are other pegmatites beyond Grants and BP33 with significant spodumene grades and thicknesses
- Drilling and assay results indicate that Sandras pegmatite is open down plunge to the south, where grades appear to increase
- Further drilling planned in 2018 to test potential extensions and zones of increasing grade at Sandras
Sandras is located on the Company's newly acquired Bynoe Lithium Project on adjacent tenements to those that host the Grants Lithium Resource and BP33 spodumene pegmatite near Darwin (see Figure 3 in link below).
New assay results from Sandras include 27m @ 1.45% Li2O from 195m in SRC006 including 7m @ 2.13% Li2O from 201m, 38m @ 1.08% Li2O from 94m in SRC002 including 8m @ 1.86% Li2O from 95m and 19m @ 1.28% Li2O from 106m in SRC008 including 5m @ 1.89% Li2O from 111m (refer Table 1 in link below). The very high grade intervals of 7m @ 2.13% Li2O at Sandras are in line with those at Grants and BP33. Core's new assays reflect the highest grade intervals that have ever been drilled at Sandras.
Recent assay results confirm that spodumene grades increase with depth at Sandras (see Figure 1 in link below) and support the concept of a southerly plunge to the spodumene pegmatite body (see Figure 2 in link below). RC Drillhole SRC005 unfortunately terminated at 161m, prior to reaching the target depth, due to poor drilling conditions. Drilling to test this southerly plunge model via a diamond drill core tail is planned in 2018.
Next Steps
The recently received drilling results at Sandras will be assessed in early 2018 to undertake a preliminary evaluation of the size and continuity of spodumene mineralisation at Sandras. Step-out RC and diamond core drilling are the next steps planned at Sandras in the 2018 field season.
To optimise the effectiveness of drilling during the remaining field season, Core is fully focused on continuing diamond drilling and newly deployed RC drilling at BP33 until year end.
Early in January 2018, RC and diamond rigs will commence resource upgrade drilling at Grants.
Assay results from other pegmatite targets recently drilled on the new Bynoe Project as well as from drilling at BP33 and Grants will be received through the first quarter 2018.
To view tables and figures, please visit:
http://abnnewswire.net/lnk/8A6O3008
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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