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Core Lithium Ltd.
Summary
| Project: | Finniss | |
|---|---|---|
| Deposit: | Zola | |
| Location: | Australia | |
| Commodities: | Lithium | |
| Date: | 8/23/2017 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 23-8-2017: Core Lithium Ltd. announces an Exploration/Drilling Update report for its Zola deposit at the Finniss project. No significant lithium assays from drilling. Core Exploration Ltd (ASX: CXO) (“Core” or the “Company”) is pleased to announce that th | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Stephen Biggins (Internal) | |
| ABSTRACT: | Core Exploration Ltd (ASX: CXO) (“Core” or the “Company”) is pleased to announce that the Company’s first RC drilling program at Zola has encountered broad intersections of pegmatite anomalous in lithium. Results to date confirm the large-scale of the Zola Pegmatite Swarm within the Finniss Lithium Project near Darwin in the NT (“Finniss”). Core’s recent drilling has confirmed that the central outcropping “core zone” of the Zola Pegmatite Swarm covers a large area more than 1,000m long and over 400m wide representing a significant volume of pegmatite with elevated lithium contents. Core is encouraged by the large scale and lithium fertility of the pegmatites intersected in initial drilling at Zola, and the Company’s immediate plan is to RC drill test the additional mapped pegmatites on the fringe of the first-pass drilling area. The thickness of pegmatite bodies is very attractive, with down-hole intersections of at least 70m ending in pegmatite (Figures 1-3). These cross-sections below typify the interpreted pegmatite geometry at Zola. This first round of RC drilling of the core of the Zola Pegmatite Swarm has shown that the pegmatites intersected are elevated in lithium (up to 0.1% Li2O) and the magmatic system is fertile. However, no economic grades of lithium were intersected in the first RC program. Recent magnetics and soil data suggest that there are outlying pegmatite bodies to the east and west of Zola under cover of laterite, which if the system is outwardly-zoned, have the potential to be mineralised with lithium. | |
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