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Core Exploration eyes larger lithium resource at Grants following high-grade hits

Regional exploration drilling continues within the larger Finniss Lithium Project with results from Carlton, Hang Gong, Highland and Far West Central expected next month.
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Shares are trading about 7% higher intra-day, at 4.7 cents

Core Exploration Ltd (ASX:CXO) has received high-grade lithium intersections confirming significant extensions to the Grants Lithium Deposit, part of its Finniss Lithium Project in the Northern Territory.

Multiple wide, high-grade lithium intersections from Grants include:

• 67 metres at 1.57% lithium oxide from 191 metres including 16 metres at 2.17% lithium oxide and 12 metres at 2.08% lithium oxide;
• 45 metres at 1.72% lithium oxide from 188 metres including 22 metres at 2.09% lithium oxide; and
• 45 metres at 1.72% lithium oxide from 142 metres including 16 metres at 2.03% lithium oxide.

New drilling results are located outside of the existing resource at Grants and therefore highlight the potential to immediately grow the currently defined resource, which underpins the strong economics of the recent pre-feasibility study.

READ: Core Exploration’s pre-feasibility study delivers robust economics for Grants Lithium Deposit

The average grades of the new significant extensions intersected at Grants are above the resource grade of 1.5% lithium oxide and include wide intervals up to 22 metres, grading >2% lithium oxide.

The new intersections highlight that the spodumene pegmatite orebody is open along strike and down-plunge to the south.

These extensional targets at Grants will be the focus of the next round of drilling once the reverse circulation rig has completed drilling at BP33.

READ: Core Exploration receives a speculative buy from RM Research

Notably, Core’s latest results highlight the potential to increase the size of the Grant’s resource to be incorporated in the definitive feasibility study (DFS) later this year.

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