Core Lithium Ltd (ASX:CXO) has delivered ‘promising’ lithium results from the drilling of Hang Gong and Bilatos and Far West prospects, situated close to existing Finniss Operations in the Northern Territory.
Standout assays include:
- 61 metres at 0.87% lithium from 48 metres, including 8 metres at 1.57% from 83 metres and 8 metres at 2.01% from 50 metres at Bilatos prospect;
- 12 metres at 1.66% lithium from 124 metres and 8 metres at 1.56% lithium from 137 metres at Far West prospect; and
- 11 metres at 1.36% lithium in from 179 metres, 7 metres at 1.86% from 157 metres and 10 metres at 1.35% from 182 metres at Hang Gong prospect.
Notably, Far West and Hang Gong are adjacent to the Grants dense media separation (DMS) processing plant.
Meanwhile, the Bilatos prospect, which has confirmed shallow mineralisation, is 22 kilometres trucking distance to the south of the DMS plant.
Looking ahead, drilling is still in progress, and diamond drilling will continue during the wet season at suitable locations.
Further upside potential
Core CEO Gareth Manderson said: “The RC and diamond drilling results are encouraging and demonstrate that the additional investment in the drilling program at Finniss in 2022 is the right approach for the exploration strategy.
“The near mine prospects targeted by drilling present a potential pathway to additional spodumene for the Grants DMS plant.
“Importantly the Bilatos drilling has identified shallow mineralisation which may be amenable to simple open pit mining.
“Far West, Hang Gong and Bilatos are all within close proximity to the Grants DMS processing facility and are potentially suitable for future trucking operations.
“Far West, Hang Gong and Bilatos represent further upside potential for the Finniss Project and we have planned an expanded exploration program for 2023.”
Drill program
At the beginning of the 2022 dry season, Core had committed to undertaking a large program of reverse circulation (RC) and diamond drilling, with up to four drill rigs on site.
The company’s drilling focused on testing along strike and below existing deposits, as well as testing new targets.
At Far West, new RC drilling has discovered excellent grades and improved pegmatite continuity on the Far West pegmatite trend.
At Hang Gong, Core established a mineral resource of 2.54 million tonnes at 1.19% lithium, enabling a better definition of these lenses, as well as extending them northward towards the hills prospect.
The pegmatite at Bilatos is a very large body, at least 760 metres in strike length, dipping steeply to the east, and still open to the south.