Why is Core Lithium (ASX:CXO) share price up over 5% today?

August 08, 2022 01:23 PM AEST | By Bhawna Gupta

Why is Core Lithium (ASX:CXO) share price up over 5% today? — Image source: © Malpetr | Megapixl.com

Who is Core Lithium's new CEO?

Core Lithium has appointed Gareth Manderson as its new CEO.

Stephen Biggins, who announced his resignation as managing director of Core Lithium in March 2022, would be replaced by Manderson.

Manderson has over 22 years of experience in various leadership and technical positions at mining giant Rio Tinto.

Manderson has about three decades of experience in the mining and minerals sector.

Before becoming the general manager of sustaining capital at Rio Tinto, Manderson held a number of high-level leadership positions within the aluminum division.

Additionally, Manderson has prior mining expertise in the Northern Territory. He formerly held the position of Manager Mine and Plant for Energy Resources Australia and frequently filled in as the site general manager for lengthy periods of time.

On August 8, 2022, Manderson will start in his new position. To facilitate a smooth transition, Mr. Biggins will remain a director until the leadership transition is complete.

Image source: © Gavinp101 | Megapixl.com

BP33 drilling results

The Northern Territory's Finniss Lithium Project's BP33 Deposit is located close to Darwin. Following the start of diamond drilling at BP33 in May, Core Lithium reported that the business is now starting to receive tests. Three deep diamond drill holes have a combined depth of up to 470 meters and have encountered the significant BP33 mineralisation.

According to Core Lithium, five more diamond-drilled holes have found mineralised pegmatite connected to the southern BP33 deposit.

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