BP33 Extended by High Grade Lithium Intersections
Adelaide, Feb 14, 2018 AEST (ABN Newswire) - Core Exploration Ltd (
ASX:CXO) ("Core" or the "Company") is pleased to announce that new wide and high-grade lithium intersections have identified substantial strike and depth extension potential at Core's 100% owned BP33 pegmatite within its Finniss Lithium Project.
HIGHLIGHTS
- New diamond core drilling of thick spodumene pegmatite confirms BP33 is open southward toward potential extensions at BP32 and BP32W
- New high-grade lithium drill assays received from diamond core and RC drilling of BP33, including:
o 36m @ 1.61% Li2O from 135m in FRC108
-- Including 14m @ 2.05% Li2O
o 49m @ 1.02% Li2O from 138m in FMRD003
- Evidence of pegmatites 200m-300m along strike at both BP32 and BP32W add significant scale potential to high grade pegmatite near BP33
- Further assays from new 2018 diamond drill core drilling at BP33 expected during February and March 2018
- Drilling at BP33 aimed at establishing a maiden Resource estimate in March and to add to the Company's Lithium resource inventory at Finniss
- Resource upgrade drilling continuing at Grants deposit (5km from BP33) for which a Pre-Feasibility Study is underway
- Drilling to re-commence testing of BP33 and adjacent BP32 and BP32W in the 2018 dry season
Core's recent drilling at BP33 has found that extensions of the BP33 spodumene pegmatite are open south and south-west toward pegmatites 200m-300m along strike at the BP32 and BP32W prospects (see Figures 1-3 in link below). If these pegmatites are connected, then there is substantial strike length of approximately 500m to the BP33/BP32/BP32W pegmatite system.
New high-grade assay results received from diamond drilling competed in late 2017 at BP33 include:
- 36m @ 1.61% Li2O from 135m in FRC108
o Including 14m @ 2.05% Li2O
- 49m @ 1.02% Li2O from 138m in FMRD003
o Including 3m @ 2.18% Li2O
RC and Diamond drilling to date has characterised BP33 as a wide and continuous spodumene rich pegmatite, including intersections of 62m @ 1.24% Li2O from 66m in FRC104 and 54m @ 1.42% Li2O from 101m in FRC103.
Results from the recent diamond and RC drilling also confirm that BP33 pegmatite is open at depth along strike to the south (see Figures 1 and 3 in link below).
Adjacent pegmatites at BP32 and BP32W prospects have been identified in historic trenching and verified more recently in shallow RAB drilling by Core. However, no RC or Diamond drilling has been conducted yet at nearby BP32 and BP32W Prospects.
Core is planning drilling at both BP32 and BP32W Prospects as soon as the 2018 dry season commences, to test the continuity and grade of these pegmatites adjacent and along strike from high grade BP33.
Next Steps at BP33
This first phase of resource focused diamond drilling at BP33 has been completed, with additional assays expected during February and March 2018. This rig has now been relocated to the Grants deposit (5km away) to focus on resource upgrade drilling.
The recently completed drill program at BP33 is an initial assessment of continuity of grade and scale of the spodumene mineralisation. The drill core will also provide valuable information that may be used for metallurgical testwork and resource evaluation at BP33.
Core is planning further drilling at both BP32 and BP32W Prospects as soon as the 2018 dry season commences (expected Q2 2018) to test the continuity and grade of these pegmatites adjacent and along strike from high grade BP33.
To view figures, please visit:
http://abnnewswire.net/lnk/PJ0G10G8
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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