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Core Lithium Ltd.
Summary
| Project: | Napperby | |
|---|---|---|
| Deposit: | Napperby | |
| Location: | Australia | |
| Commodities: | Uranium | |
| Date: | 10/12/2018 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 12-10-2018: Core Lithium Ltd. announces a Resource Estimation report for its Napperby deposit at the Napperby project. Updated mineral resource estimate to JORC 2012 compliance. Core Exploration Ltd (ASX: CXO) (“Core” or the “Company”) is pleased to annou | |
| Resources: | (Resource, Inf.): 9.54Mt @ 382ppm U3O8 for 8.03Mlbs U3O8 contained | |
| CP/QP: | [Resources]: Daniel Guibal (SRK Consulting (Australasia) Pty Ltd.) | |
| ABSTRACT: | Core Exploration Ltd (ASX: CXO) (“Core” or the “Company”) is pleased to announce that the Mineral Resource for its 100%-owned Napperby Uranium Deposit in the Northern Territory has been re-estimated to follow the JORC 2012 Code guidelines. The Napperby Uranium Inferred Mineral Resource estimation defined by SRK Consulting comprises 9.54Mt at 382ppm U3O8 for 8.03 Mlb of contained U3O8 at a 200 ppm U3O8 cut-off (Table 1 and Figure 2). Napperby also includes significant Vanadium mineralisation that represents a 9.54Mt Inferred Mineral Resource at 236ppm V2O5. Only a quarter of the known mineralised area defined by Uranerz in the 1980’s at Napperby has been drilled to sufficient density to estimate a mineral resource. The larger mineralised area (25km x 5km) surrounding and adjacent to the deposit has strong potential to be incorporated into Mineral Resources through further drilling (Figure 1). Core is also confident that further calcrete uranium mineralisation can be defined in the 750km2 project area held by the Company (Figure 3). Potential for additional calcrete-style uranium mineralisation in the district is also highlighted by the nearby Cappers uranium resource of 7Mlb at 145 ppm U3O8 (Energy Metals Annual Report 2017; Figure 3). The mineral resource re-estimation by Core supersedes a previous estimation carried out under the 2004-JORC Code by Toro Energy (Deep Yellow ASX release 9/9/2016; CXO ASX release 15/2/2017) and has resulted in an increase in the contained U3O8 tonnes and an improvement in average grade. | |
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