Core Lithium Discovers New Spodumene Pegmatite Body At Carlton Lithium Mineral Resource

  • Mar 01, 2019 AEDT
  • Team Kalkine
Core Lithium Discovers New Spodumene Pegmatite Body At Carlton Lithium Mineral Resource

Core Lithium Limited (ASX: CXO) is an emerging Lithium explorer based in Australia. On 1st March 2019, the company announced its discovery of spodumene pegmatite body which is almost 15m west of the current Carlton Lithium Mineral Resource near Darwin in the Northern Territory.

Just 15m to the west of the currently defined Mineral Resource, a recent diamond drilling was completed at the deposit which unexpectedly intersected another 26m intersection of spodumene pegmatite, in addition to the expected 27m pegmatite intersection of the Carlton orebody.

To date, a large portion of the drilling at Carlton has been from the east, and as this pegmatite body had not been recently perceived, the past up-drill holes of the new intersection finished before they could possibly cross and intercept shallow extensions of this new spodumene pegmatite body.

The new western pegmatite has not been intersected along strike yet in other drill openings at Carlton, so additional drilling is planned at Carlton to test extensions of this newfound pegmatite as well as asset further resource drilling from the early 2019 field (dry) season mid-Q2 2019.

The spodumene pegmatite in the Carlton "western pegmatite" is visually very similar to the high-quality spodumene mineralisation observed at the Grants and BP33 lithium Mineral Resources

The Carlton deposit is found around 1km southeast of the Grants ore body which is conveniently on the equivalent as of recently allowed Mineral Lease. Various potential operational synergies and efficiencies might be gained up from the advancement of the adjacent orebodies.

As a result of this new intersection, Core Lithium is anticipating further increases to the Mineral Resource at Carlton in the future. It is currently completing a Mineral Resource update for Carlton in order to finalize the Definitive Feasibility Study (DFS) towards the end of March 2019. But the time required to process and cut the new core and receive assays is quite high, and therefore this newly identified spodumene pegmatite body is not planned to be included in the initial DFS findings.

The widespread potential of ore-grade lithium mineralisation has already been confirmed through exploration and Resource drilling to date in Company’s wholly-owned Finniss Lithium Project. The Finnis project is comprised of over 500km2 of granted tenements over the Bynoe Pegmatite Field, near Darwin and has substantial infrastructure advantages like being close to grid power, gas and rail, located within easy trucking distance by sealed road to Darwin Port etc. to support and help the development of the project.

Through mining and production of high-quality lithium concentrate from the Finniss Project, the company is planning to be the next lithium producer in Australia. It is also aiming at completion of DFS, financing, regulatory and internal approvals before commencing construction later this year.

Core Lithium last traded at A$0.057, up by 5.56% as on 1st March 2019 as compared to the previous closing of A$0.054. The return given by the stock on a YTD basis is 1.89%.


Disclaimer

This website is a service of Kalkine Media Pty. Ltd. A.C.N. 629 651 672. The website has been prepared for informational purposes only and is not intended to be used as a complete source of information on any particular company. Kalkine Media does not in any way endorse or recommend individuals, products or services that may be discussed on this site. Our publications are NOT a solicitation or recommendation to buy, sell or hold. We are neither licensed nor qualified to provide investment advice.

 

There is no investor left unperturbed with the ongoing trade conflicts between US-China and the devastating bushfire in Australia.

Are you wondering if the year 2020 might not have taken the right start? Dividend stocks could be the answer to that question.

As interest rates in Australia are already at record low levels, find out which dividend stocks are viewed as the most attractive investment opportunity in the current scenario in our report.

CLICK HERE FOR YOUR FREE REPORT!

 

All pictures are copyright to their respective owner(s).Kalkinemedia.com does not claim ownership of any of the pictures displayed on this website unless stated otherwise. Some of the images used on this website are taken from the web and are believed to be in public domain. We have used reasonable efforts to accredit the source (public domain/CC0 status) to where it was found and indicated it below the image.

 

   
x
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it. OK