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Core Lithium has diamond drill spinning in resource expansion program at Finniss

The company initiated the drilling after mine planning and resource assessment studies highlighted opportunities to further extend mineral resources and ore reserves at Grants and BP33 deposits.

Core Lithium Ltd - Core Lithium has diamond drill spinning in resource expansion program at Finniss
Finniss is regarded as one of Australia’s lowest capital intensity lithium projects

Core Lithium Ltd (ASX: CXO) has started resource estimation drilling targeting increases in mineral resources and ore reserves at the Finniss Lithium Project near Darwin in the Northern Territory.

This diamond drilling is targeting open extensions of the Grants and BP33 ore bodies and is focused on the potential to increase life of the mine at the project.

The first diamond drill rig has already reached the destination and started operations while a second rig is expected to arrive in the coming week.

Opportunities to extend resources

Recent mine planning and resource assessment studies have highlighted valuable opportunities to extend mineral resources and ore reserves at Grants and BP33, particularly in light of efficient underground mining methods verified in the pre-feasibility study (PFS).

Notably, the last holes drilled at BP33 featured a lithium intersection of 107 metres at 1.70% Li20 that is open along strike in both directions and at depth.

The ore body at Grants is open below an intersection of 48 metres at 1.59% Li2O from 224 metres.

Drilling program

The 4,000-5,000 metres resource expansion drilling program is expected to be completed in November.

Core’s mining engineering team is working to optimise the depth of the Grants open pit to complement an extended underground mining operation.

This has been done to exploit the deeper extents of the Grants ore body, which has the potential to reduce the stripping ratio and capture more of the ore.

Quick facts: Core Lithium Ltd

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ASX:CXO
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