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Core Lithium Ltd.
Summary
| Project: | Finniss | |
|---|---|---|
| Deposit: | Hang Gong, Lees-Booths | |
| Location: | Australia | |
| Commodities: | Lithium | |
| Date: | 12/20/2018 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Pre-Feasibility Study | |
| Report details: | 20-12-2018: Core Lithium Ltd. announces an Exploration/Drilling Update report for its Hang Gong, Lees-Booths deposit at the Finniss project. Drilling results incl. 13.0m @ 1.46% Li2O from 193.0m. Emerging Australian lithium developer, Core Lithium Ltd (AS | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Stephen Biggins (Internal) | |
| ABSTRACT: | Emerging Australian lithium developer, Core Lithium Ltd (ASX: CXO) (“Core” or the “Company”), is pleased to announce new assay results for drilling at Lees-Booths Link and Hang Gong Prospects that demonstrate the potential to host large lithium deposits. Core recently announced exploration drilling results showing a link exists between Lees and Booths, with the development of stacked, shallow-dipping pegmatites over a strike-length of 1km, open to the northwest and southeast (see ASX announcement 12/11/18). Assays have now been returned for 10 of the 14 holes completed to target depth (Figures 1, 2 and 3). Of these, 9 holes contain mineralised pegmatite and 5 contain at least two mineralised pegmatites, including:a These results are considered very encouraging, given this was no more than a concept two months ago, and Core is now confident that this concept applies to a number of areas in the northern part of the Finniss Project. The other area that this concept has now been tested is Hang Gong, where the assay results for the last 4 RC drillholes of the November program have also been returned (Figure 4). While three were un-mineralised due to the presence of only narrow pegmatites, the most north western hole contains two mineralised pegmatites: • 6m @ 0.89% Li2O from 130m & 3m @ 1.25% Li2O from 157m in FRC199 This hole extends the known mineralised corridor at Hang Gong to 900x500m, which is open to the northeast and southwest (Figure 4). This interpreted mineralised trend measures 1km x 1km and has been shown to contain multiple stacked mineralised pegmatite sheets (see ASX announcement 27/11/18). Commenting on the success of the exploration results, Core’s Managing Director, Stephen Biggins said: “These exploration results continue to justify a change in the exploration methodology in the northern part of the Finniss Project, focussing more effort on discovery and follow-up of shallower dipping stacked pegmatites, similar to our Western Australian counterparts. “While the steeper bodies make up the entirety of Core’s current global resource base, it appears inevitable that the stacked sheets will contribute significantly to the Mineral Resource in the near future. | |
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