Liontown, Core Exploration and Kingston Resources join forces to advance exploration of emerging lithium province
Commences Joint Airborne Geophysical Survey Across Bynoe/Finniss Pegmatite-Lithium Field with KSN and LTR
Adelaide, Jan 10, 2017 AEST (ABN Newswire) - Liontown Resources (
ASX:LTR), Core Exploration Limited (ASX:CXO) and Kingston Resources Limited (ASX:KSN) (the Companies) are pleased to advise a collaborative approach to undertake a major, jointly funded airborne geophysical survey across the Bynoe/Finniss Pegmatite Field located near Darwin in the Northern Territory.
Key Points:
- Major jointly funded survey to cover a total area of 385km2
- First geophysical survey to be undertaken in the region more than 30 years
- Recent exploration has shown the potential for new pegmatite discoveries under cover
- Significant new lithium discoveries announced recently by Liontown and Core
The survey, which commenced recently and is being flown by Thomson Aviation, will total 2,234 line kilometres and cover an area of approximately 385km2 (see Figure 1 in the link below) comprising low-level (35-40m sensor height), 50m spaced, east-west lines. It is expected to take approximately 20 days to complete.
A previous aeromagnetic survey flown in 1981 comprised 500m spaced, north-south lines (sub-parallel to the main mineralised trend) with a sensor height of 100m.
Numerous historic rare-metal pegmatites have been documented by the Northern Territory Geological Survey and this data has been used to target initial drilling programs by Core and Liontown, and geochemical surveying by Kingston. Large parts of the region however, are obscured by shallow, transported cover under which the exploration potential is considered to be high.
The Companies believe the Bynoe/Finniss Pegmatite Field is highly prospective for economic lithium deposits and the investment in a detailed geophysical survey will facilitate future discoveries and be used to target drilling.
To view tables and figures, please visit:
http://abnnewswire.net/lnk/T1QQ206E
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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