Core Lithium Announced Positive Drilling Results

  • Dec 20, 2018 AEDT
  • Team Kalkine
Core Lithium Announced Positive Drilling Results

The company recently drilled at LeesBooths Link and shows consistent lithium mineralisation up to 13m downhole width returned from 10 step-out RC drill holes. Multiple mineralised pegmatites intersected over 1km strike length, and in stacked horizons support the potential for favourable mining economics at Lees-Booths.

Multiple mineralised pegmatites intersected over 1km strike length, and in stacked horizons support the potential for favourable mining economics at Lees-Booths. Including 6m @ 0.89% Li2O from 130m & 3m @ 1.25% Li2O from 157m in FRC199 assays for the outstanding 4 RC drill holes at Hang Gong also show encouragement.

With the intent to upgrade the Resource classification and potentially grow the scale of those Mineral Resources in-fill drilling planned for January-February at each of the Carlton, Hang Gong and Lees-Booths Link prospects.

With the development of stacked shallow-dipping pegmatites over a strike-length of 1km open to the northwest and southeast, Core recently announced exploration drilling results showing a link exists between Lees and Booths. For 10 of the 14 holes completed to target depth, assays have now been returned. Among them 5 contain at least two mineralised pegmatites and 9 holes contain mineralised pegmatite and Four separate intercepts in NRC075.

Given this was no more than a concept two months ago these results are considered very encouraging and Core is now confident that this concept applies to several areas in the northern part of the Finniss Project. Where the assay results for the last 4 RC drill holes of the November program have also been returned the other area that this concept has now been tested is Hang Gong. This interpreted mineralised trend measures 1km x 1km and has been shown to contain multiple stacked mineralised pegmatite sheets.

The most north western hole contains two mineralised pegmatites, while three were un-mineralised due to the presence of only narrow pegmatites. The company Core Exploration Limited (ASX: CXO) traded at a market price of $0.053 which is up by 1.923%. The performance for the six months has been 23.81%.


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