Wide High-grade Lithium Intersections Positive for BP33
- Wide and high- grade assays results returned from recent diamond drilling at BP33 Prospect include 42.9m @ 1.39% Li2O (drillhole FMRD004)
- High-grade results are positive for pending assays from nearby drillhole FMRD0007 that recently intersected 86m of spodumene pegmatite (with the drillhole still in spodumene pegmatite at end of hole)
- The wide spodumene intersection in FMRD007 is southeast of the BP33 historic pit and toward potential extensions at both BP32 and BP32W Prospects
- Recent drilling highlights significant potential for extensions to the highgrade lithium pegmatites at BP33 Prospect
- Final assays from recent BP33 2018 diamond drill core expected this month
- BP33 maiden Resource estimate expected shortly after receipt of all assays
- Drilling to re-commence testing for potential extensions to BP33 and adjacent BP32 and BP32W upon commencement of the dry season in Q2 2018
- Resource upgrade drilling continuing at Grants located 5km from BP33
The new high lithium grades in drillhole FMRD004 are positive for the nearby 86m spodumene pegmatite intersection containing high average concentrations of spodumene in FMRD007 (ASX - 19/2/18).
The visual spodumene content of drill core from FMRD004 is comparable to that from recently drilled FMRD007 that has now been cut and delivered to the laboratory for assay (see Photo 1 in link below and refer ASX - 19/2/18).
The nearby 86m intersection in FMRD007 is the widest interval of spodumene pegmatite ever drilled in the NT. As the drillhole ended within the spodumene pegmatite body, further drilling collared to the east at BP33 is planned to define the geometry of this pegmatite body.
Results from the recent diamond and RC drilling confirm that the BP33 pegmatite is open at depth and along strike to the south. It is probable that the pegmatite body becomes broader with depth at the southern end of BP33 and plunges to the south under cover toward pegmatites at BP32 and BP32W prospects (see Figure 2 in link below).
Pegmatites at BP32 & BP32W have been identified in historic trenching and verified more recently in shallow RAB drilling by Core. However, no RC or Diamond drilling has been conducted at either of these Prospects.
BP33 is located only 5km south of the proposed development of the Grants lithium deposit, offering strong development synergies and potential for extending mine life at the Finniss Project.
Next Steps at BP33
The first phase of resource focused diamond drilling at BP33 has been completed with final assays from recent drillhole FMRD007 expected during March 2018.
Core is planning to commence an initial resource evaluation at BP33 in late March 2018.
Follow-up drilling is planned to better define the southward and shallow up-dip extension of the wide spodumene pegmatite body intersected by FMRD007 at BP33. Further drilling is also planned at both BP32 and BP32W Prospects as soon as the site becomes accessible in the dry season during Q2 2018.
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About Core Exploration Ltd
Core Exploration Ltd (ASX:CXO) aims to grow shareholder value through the exploration for and discovery of commercially robust base metal and uranium deposits in South Australia and the Northern Territory. Core Exploration's projects have been carefully acquired in geology which hosts world-class mines and within some of the most prospective geological terrains for base metals and uranium in Australia.
Core Exploration Ltd