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Core Lithium Ltd.
Summary
| Project: | Finniss | |
|---|---|---|
| Deposit: | Grants | |
| Location: | Australia | |
| Commodities: | Lithium | |
| Date: | 3/2/2017 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 2-3-2017: Core Lithium Ltd. announces an Exploration/Drilling Update report for its Grants deposit at the Finniss project. Drilling results incl. 33.6m @ 1.37% Li2O from 201m. Core Exploration Ltd (ASX: CXO) (“Core” or the “Company”) is pleased to announc | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Stephen Biggins (Internal) | |
| ABSTRACT: | Core Exploration Ltd (ASX: CXO) (“Core” or the “Company”) is pleased to announce that it has now received the final Phase 2 RC and Diamond drilling results from its 2016 drilling program at its Finniss Lithium Project near Darwin in the Northern Territory. The final results continue to demonstrate the excellent continuity of high grade spodumene mineralisation at Grants and cap off a successful 2016 program which significantly increased the Company’s confidence of the development potential of the Finniss Lithium Project. Core’s 2016 exploration drilling program at Finniss discovered a number of high grade lithium discoveries, including Grants, BP33 and Far West. Core is now preparing to recommence drilling which will be focused on establishing a maiden lithium resource, and growing its resource base at the Finniss Lithium Project. The Company will maintain aggressive exploration and in-fill drill programs in 2017 in parallel with assessing early development options. New deep RC and diamond drilling assays confirm that the Grants high grade spodumene pegmatite is continuous over 300m in length and up to 30m wide, and open at depth below 200m vertical. Commenting on the final results from the 2016 drilling program, Core’s Managing Director, Stephen Biggins said: “The 2016 drilling program was extremely successful. We made high grade lithium discoveries at a number of our targets at the Finniss Lithium Project which has validated Core’s methodical approach to its lithium exploration program. The Grants discovery has been particularly exciting given high grade spodumene has been demonstrated over 300m in length and up to 30m wide, and open at depth below 200m vertical. The continuity of high grade mineralisation, simple mining and low transport costs given its proximity to Port Darwin bodes well for potential early development at Grants and we will continue to aggressively progress Grants in 2017. | |
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