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Core Exploration drill results extend BP33 lithium pegmatite

Drilling at the BP33 pegmatite is working towards a maiden resource in that area.
periodic table symbol for lithium
The company is developing one of Australia’s highest grade lithium resources

Core Exploration Ltd (ASX:CXO) has received drill results from the BP33 pegmatite within the Finniss Lithium Project in the Northern Territory.

Results have identified substantial strike and depth extension potential at the BP33 pegmatite.

Impressively, intersections include 36 metres at 1.61% lithium from 135 metres and 49 metres at 1.02% lithium from 138 metres.

Drilling at BP33 aims to establish maiden resource in that area

Drilling at BP33 is aimed at establishing a maiden resource estimate to add to the company’s lithium resource inventory at Finniss.

Furthermore, these results show extensions of the BP33 spodumene pegmatite are open south and south-west toward pegmatites 200-300 metres along strike at the BP32 and BP32W prospects.

BP33 is 5 kilometres from the main Grant’s lithium deposit

The BP33 pegmatite is five kilometres from the main Grant’s deposit where a pre-feasibility study (PFS) is underway.

READ: Core Exploration has Chinese backing to transform into lithium producer

The PFS is due to be complete by the end of next month and will include a resource upgrade from the current drilling.

Further assays expected, drilling continues

This first phase of resource focused diamond drilling at BP33 has been completed, with additional assays expected during February and March 2018.

This rig has now been relocated to the Grants deposit to focus on resource upgrade drilling.

Core is planning further drilling at both BP32 and BP32W prospects as soon as the 2018 dry season commences, likely in the June quarter.

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