Australia  

Celebrating 10 Years of Trusted News Discovery
One News Page
> >

Core Lithium intersects high-grade spodumene mineralisation at Finniss project in NT

Proactive Investors Tuesday, 10 September 2019
Core Lithium Ltd (ASX:CXO) has intersected high-grade spodumene mineralisation in multiple drill-holes at the Finniss Lithium Project near Darwin, NT. The lithium-rich spodumene pegmatites were intersected in a number of prospects during recent exploration and mineral resource drilling. A large capacity drill rig is on site to undertake several drilling campaigns for the remainder of 2019. On track to be Australia’s next lithium producer Managing director Stephen Biggs said: “With the recent share purchase plan (SPP) and LRC funding in place Core is in prime position to focus on expanding the lithium mineral resource and ore reserves through exploration and resource drilling at the Finniss Lithium Project. “Assay results are expected in a few weeks and a new round of drilling has just commenced – Core is putting every resource into action at Finniss to build on the already strong economics of the project. “With the definitive feasibility study complete, approvals, additional offtake and project finance advancing towards finalisation ahead of first construction, Core remains well on track to becoming Australia’s next lithium producer.” Drill hole intersections for the recently completed phase of drilling were in line with expectations: Two diamond drill holes at BP33 prospect intersected 51 metres and 60 metres respectively of spodumene pegmatite; Multiple pegmatites were intersected in most of the six RC holes at Hang Gong, however, only two of these reached target depth; The first phase of RC resource drilling at Booths intersected pegmatites in line with the mineral resource expansion model; A 14-metre RC intersection of spodumene pegmatite was found at the Ah Hoy prospect as part of a three-hole program; and RC drill pegmatite intersections with a range of widths and variable lithium potential from new exploration prospects. Assay results for the first-round reverse circulation (RC) drilling at Finniss have been delayed by an instrument problem at the laboratory but the problem has now been rectified and results are expected in the next two weeks. New prospects being assessed Core has also been actively exploring its large tenement package with a range of cost-effective exploration methods including soil sampling, mapping, auger sampling and rotary air blast (RAB) drilling to continue to assess the historic pegmatite occurrences and geophysical anomalies. Numerous new prospects are being assessed and those with high priority are being prepared for deeper RC drill testing. To follow-up the expected positive results of recent drilling and exploration work, a second phase of mineral resource growth and exploration drilling has begun this week. Drilling in coming months will be conducted at a number of prospects aimed at expanding existing mineral resources as well as adding additional ore reserves and mine life at the Finniss project. These include BP33, Carlton, Hang Gong and Lees-Booths.
0
shares
ShareTweetSavePostSend
 
Credit: CBS 5 SF KPIX - Published < > Embed
News video: SF Mayor London Breed Guest Speaker At Project By Project's Annual 'Plate By Plate'

SF Mayor London Breed Guest Speaker At Project By Project's Annual 'Plate By Plate' 01:04

San Francisco Mayor London Breed was the guest speaker at Project by Project's 10th Annual tasting event, 'Plate by Plate.' This year the benefit raised money to help fight homelessness.

Recent related videos from verified sources

The Davies Project - 10/18/19 [Video]The Davies Project - 10/18/19

Dr. Dele Davies, Sr. Vice Chancellor at University of Nebraska, and Pam Miklavcic, Executive Director, The Davies Project, talk about the new building and ribbon cutting ceremony for The Davies..

Credit: FOX 47 News Michigan     Duration: 02:59Published

Why Facebook Investors Shouldn't Be Worried About Companies Pulling Out of Libra [Video]Why Facebook Investors Shouldn't Be Worried About Companies Pulling Out of Libra

Facebook's Libra project is having partners withdraw from the fledgling cryptocurrency project left and right. It started with Paypal withdrawing last week. Then Stripe, eBay , Mastercard and Visa..

Credit: The Street     Duration: 01:19Published


Recent related news from verified sources

Core Lithium intersects thick, high-grade spodumene at BP33 deposit, likely to boost reserves

Core Lithium Ltd (ASX:CXO) has intersected thick, high-grade spodumene up 2% lithium oxide to increase ore reserves at BP33 deposit of the Finniss Lithium...
Proactive Investors

Core Lithium enters into ancillary mineral lease agreement for Finniss project

Core Lithium Ltd (ASX:CXO) has entered into an agreement for the rights to apply for an Ancillary Mineral Lease from Lithium Plus Pty Ltd and which would form...
Proactive Investors

You Might Like

Environmentally friendly: One News Page is hosted on servers powered solely by renewable energy
© 2019 One News Page Ltd. All Rights Reserved.
About us  |  Contact us  |  Disclaimer  |  Press Room  |  Terms & Conditions  |  Content Accreditation
 RSS  |  News for my Website  |  Free news search widget  |  In the News  |  DMCA / Content Removal  |  Privacy & Data Protection Policy
How are we doing? FeedbackSend us your feedback  |   LIKE us on Facebook   FOLLOW us on Twitter  •  FOLLOW us on Pinterest
One News® is a registered trademark of One News Page Ltd.