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Core Lithium identifies gold potential of Bynoe Pegmatite Field

Previous exploration datasets and assays focussed on tin-tantalum-lithium regularly excluded gold.

Core Lithium Ltd - Core Lithium identifies gold potential of Bynoe Pegmatite Field
Core is planning to re-assay existing laboratory pulps for gold

Core Lithium Ltd (ASX:CXO) has identified a number of attractive gold targets and prospects within the Bynoe Pegmatite Field in the Northern Territory following a review of recent lithium-focussed exploration and historical tin-tantalum datasets.

The most advanced prospect is Golden Boulder, with up to 15.85 g/t gold in rock chips, which was drilled by Greenbushes Ltd in the late 1990’s intersecting 48 metres at 0.34 g/t gold from surface.

Nineteen other gold target zones are defined by sporadic rock chip and/or soil samples up to 11.4 g/t gold.

Northern Finniss Project gold-in-soils grid highlighting existing gold targets and prospects

A plethora of likely targets exists where documented quartz vein systems have not been assessed for gold.

Many quartz vein systems in the Bynoe Field have not been tested at all.

Most gold prospects are spatially separated from pegmatite bodies; however, a temporal and genetic connection cannot be ruled out.

Greenbushes historically reported gold in alluvial concentrates at Booths and Hang Gong drainages.

It is possible that this gold was derived from later quartz veins adjacent to or within the pegmatite, which provided a favourable rheology contrast with surrounding metasediments.

Southern Finniss Project gold-in-soils grid highlighting existing gold targets and prospects

Numerous gold targets have been generated and Core believes it is well-positioned in terms of tenure, easy access, local expertise and gold prospectivity to consider the gold exploration potential at both the Bynoe and nearby Adelaide River Gold projects.

Whilst the recent review of exploration and geochemistry data has highlighted the significant gold potential of the Bynoe Pegmatite Field, Core remains absolutely focused on delivering Australia’s next lithium project by developing the Finniss Lithium Project near Darwin in the Northern Territory.

Next steps to assess gold potential

Core is planning to undertake a first stage selective program of re-assaying existing laboratory pulps for gold at North Australian Laboratory in Pine Creek.

On assessment of those results, a second-stage re-assay of Core’s substantial library of soil and auger samples that reside at the Pine Creek laboratory would hugely expand the current coverage of gold assays on the project.

These methods are expected to enable the company to efficiently assess the significance of the gold potential of the Bynoe pegmatite highlighted in recent analysis.

Quick facts: Core Lithium Ltd

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