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Core Lithium Ltd.
Summary
| Project: | Finniss | |
|---|---|---|
| Deposit: | Grants | |
| Location: | Australia | |
| Commodities: | Lithium | |
| Date: | 2/21/2017 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 21-2-2017: Core Lithium Ltd. announces an Exploration/Drilling Update report for its Grants deposit at the Finniss project. Drilling results incl. 53m @ 1.59% Li2O from 136m. Core Exploration Ltd (ASX: CXO) (“Core” or the “Company”) is pleased to announce | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Stephen Biggins (Internal) | |
| ABSTRACT: | Core Exploration Ltd (ASX: CXO) (“Core” or the “Company”) is pleased to announce that bonanza drill intersections have been received in the latest batch of results from the Phase 2 RC drilling at the Grants Prospect. These new RC drill results confirm the excellent continuity of high grade spodumene mineralisation at Grants and increases confidence of the development potential of the Finniss Lithium Project near Darwin in the NT (“Finniss”). These new RC assay results are consistent with the previous RC and diamond drillholes at Grants which have hit thick intersections of excellent quality coarse grained spodumene, and further demonstrate that high grade spodumene mineralisation is continuous between drill sections and is open at depth. These new results improve the definition and continuity of high grade spodumene mineralisation at extend the known depth at Grants, and increases confidence in the development potential of Grants and the Finniss Lithium Project. The continuity and expanded size of high grade spodumene mineralisation drilled at Grants strengthens the case for potential early production from the Finniss Lithium Project, starting at the Grants Prospect. Grants is located 500m from the sealed highway which connects to the Project to nearby Port Darwin. Port Darwin is a multiuser port with bulk loading and container shipping facilities with spare capacity and is Australia’s closest port to Asia. The Finniss Project’s potential logistics chain to China is arguably better than most spodumene projects being developed in Australia. Once all assay results have been received from the current drilling programme at Grants, Core will consider a Mining Study on the Grants Pegmatite to assess the potential for early development at Grants exporting via the Port of Darwin. | |
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