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Core Lithium Ltd.
Summary
| Project: | Finniss | |
|---|---|---|
| Deposit: | BP33 | |
| Location: | Australia | |
| Commodities: | Lithium | |
| Date: | 1/16/2020 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Environmental Approval | |
| Report details: | 16-1-2020: Core Lithium Ltd. announces an Exploration/Drilling Update report for its BP33 deposit at the Finniss project. Drilling results incl. 106.6m @ 1.70% Li2O from 311.4m. Advanced Australian lithium developer Core Lithium Ltd (Core or Company) (ASX | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Stephen Biggins (Internal) | |
| ABSTRACT: | Advanced Australian lithium developer Core Lithium Ltd (Core or Company) (ASX: CXO) is pleased to announce a world-class, high-grade lithium intersection of 107m @ 1.70% Li2O at the BP33 Prospect within the 100%-owned Finniss Lithium Project, located near Darwin in the Northern Territory. A continuous intersection of greater than 100m high-grade spodumene pegmatite was drilled by the Company as part of a recent deep reverse circulation (RC) and diamond drilling program at the BP33 Prospect. Along with the high lithium grade nature of the BP33 spodumene pegmatite, of note are the very coarse spodumene crystals of the BP33 pegmatite (Figure 1), which are typical of the spodumene pegmatites within the Finniss Lithium Project. The coarse crystalline nature enables the high recovery of lithium by simple, gravity dense media separation (DMS). Effective DMS separation eliminates the need for flotation and translates into significantly lower capex, lower processing costs and low start-up risk. The outstanding drill result indicates that the primary pegmatite body at BP33 extends with an ~40m true width for at least a further 100m vertically from previous drilling on that section and remains open at 400m vertical depth (refer Figure 2). | |
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