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Core Lithium’s drilling intersects high-grade lithium mineralisation ahead of Finniss DFS

New results include 76 metres at 1.78% lithium oxide from 149 metres.

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DFS to be released in April 2019

Core Lithium Ltd (ASX:CXO) has received new high-grade lithium results from drilling at the BP33 deposit within its Finniss Lithium Project near Darwin in the Northern Territory.

Drill intersections include outstanding lithium grades of about 1.8% lithium oxide over broad intersections exceeding 70 metres in length, confirming the consistent and high-grade nature of the BP33 lithium orebody.

Drill plan and recent drill results at BP33 Prospect

The latest results come ahead of Core completing the Definitive Feasibility Study (DFS) for Finniss, which is expected to be released in the next few weeks.

New wide, high-grade lithium drill intersections at BP33 include:

• 76 metres at 1.78% lithium oxide from 149 metres including 21 metres at 2.06% lithium oxide from 202 metres;
• 51.75 metres at 1.72% lithium oxide from 269 metres; and
• 31 metres at 1.63% lithium oxide from 106 metres.

These exciting new results are from a short reverse circulation and diamond drilling campaign carried out last month at BP33.

READ: Core Lithium grows Finniss global resource to 8.85 million tonnes with upgraded Carlton estimate

These last results from BP33 are important to increase the high level of confidence in the orebody and the accuracy of the input and outcomes of the DFS.

Core is in the final stages of studies to enable completion of the DFS.

These last stages of work will be completed over the coming weeks, to enable Core to release the DFS before the end of April.

Finniss Lithium Project

The Finniss Project comprises over 500 square kilometres of granted tenements over the Bynoe Pegmatite Field near Darwin.

Exploration and resource drilling to date have confirmed that potential ore-grade lithium mineralisation is widespread within the Finniss Project, and Core’s drilling in 2018 and into early 2019 has the potential to substantially grow the resource base to underpin a potential long-life lithium mining and production operation.

Quick facts: Core Lithium Ltd

Price: 0.047 AUD

Market: ASX
Market Cap: $45.58 m

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