Core Exploration claims highest ever NT lithium hit

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THE DRILL SERGEANT: Core Exploration (ASX: CXO) has claimed to have drilled the highest ever lithium drill intersection in the Northern Territory from the Grants prospect within the company’s Finniss lithium project.

The Grants prospect is the second pegmatite to be drilled during the company’s maiden lithium drilling program at Finniss which is testing a number of pegmatite drill targets.

Results from assays to date from the Grants prospect include:

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49 metres at 1.78 per cent lithium oxide (Li2O) from 71m, including 6m at 2.26 per cent Li2O from 97m and 9m at 2.05 per cent Li2O from 110m.

Core said the high grade spodumene intersections at the Grants prospect combined with previously announced high-grade intersections from the BP33 prospect to confirm Finniss as a major new discovery of high grade lithium.

Results from the recent discovery at BP33, which is located approximately five kilometres away from Grants included:

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34 metres at 1.6 per cent Li2O from 71m, including 7m at 2.02 per cent Li2O from 79m, 4m at 2 per cent Li2O from 93m, and 3m at 2 per cent Li2O from 101m.

Core claims to hold the largest lithium tenure position in the NT, including the highest grade lithium drill intersections, the largest historic pegmatite mine and at least another 25 other recorded pegmatites mines in the Territory.

The company declared the scale of some Finniss pegmatites to be comparable to the scale of pegmatites hosting large lithium resources in the Pilbara region of Western Australia.

“While we were extremely pleased with the results from BP33, the results from the Grants prospect were even better, returning the highest grade spodumene intersections ever drilled in the NT confirming Finniss as a significant new lithium discovery,” Core Exploration managing director Stephen Biggins said in the company’s announcement to the Australian Securities Exchange.

“The presence of high-grade lithium over wide zones on multiple pegmatites located in close proximity to one another, combined with Core’s large tenement holding and the projects close proximity to key infrastructure such as the Port of Darwin provide Core with a significant advantage when considering the potential development of Finniss.”

Email: info@coreexploration.com.au

Website: www.coreexploration.com.au