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Core Lithium Ltd.
Summary
| Project: | Finniss | |
|---|---|---|
| Deposit: | Grants | |
| Location: | Australia | |
| Commodities: | Lithium | |
| Date: | 10/3/2016 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 3-10-2016: Core Lithium Ltd. announces an Exploration/Drilling Update report for its Grants deposit at the Finniss project. Drilling results incl. 49m @ 1.78% Li2O from 71m. ore Exploration Ltd (ASX: CXO) (“Core” or the “Company”) is pleased to announce t | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Stephen Biggins (Internal) | |
| ABSTRACT: | ore Exploration Ltd (ASX: CXO) (“Core” or the “Company”) is pleased to announce the highest ever lithium drill intersection in the Northern Territory from the Grants Prospect at the Company’s Finniss Lithium Project (“Finniss”), including 49m @ 1.78% Li2O from 71m. The Grants Prospect is the second pegmatite drilled during the Company’s maiden lithium drilling program at Finniss which is testing a number of pegmatite drill targets. The high grade spodumene intersections at the Grants prospect, together with the previously announced high grade intersections from the BP33 prospect, confirms Finniss as a major new discovery of high grade lithium. Core holds the largest lithium tenure position in the NT, including the highest grade lithium drill intersections, the largest historic pegmatite mine and at least another 25 other recorded pegmatites mines in the Northern territory. The scale of some Finniss pegmatites are comparable to the scale of pegmatites hosting large lithium resources in the Pilbara region of Western Australia. The second prospect drilled by Core in its maiden drilling program at the Finniss Lithium Project was the Grants prospect, where six holes were drilled. Assays have been received from the first four holes drilled at Grants. The best result was 1.78% Li2O over 49m, containing zones of high grade spodumene mineralisation of up to 9m @ 2.05% Li20 (drill hole FRC007). Other holes at Grants also returned zones of high grade lithium as listed in Table 1 below. All holes hit pegmatite intersections over broad intervals of 30 – 50 metre widths (approximately 20-30m true width), containing high grades of lithium as spodumene mineralisation (Table 1 and Figures 1-3). | |
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