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Core Lithium rock chips from Bynoe's Kellermeister Prospect return gold grades of up to 20 g/t

The company’s low-cost field investigations continue to uncover new targets and prospects, building the prospectivity of the Bynoe Gold Project area.

Core Lithium Ltd - Core Lithium rock chip samples from Kellermeister Prospect return gold grades of 20 g/t
Further gold assay results are expected in the coming weeks

Core Lithium Ltd (ASX:CXO) ongoing exploration at its wholly-owned Bynoe Gold Project in the Northern Territory has returned up to 20 g/t gold from rock chips at the new Kellermeister Prospect as well as several samples from the nearby Rosella Prospect of above 1 g/t gold.

The company was led to the Kellermeister area by elevated soil-gold assays that emanated from its lithium pulp re-assay program.

Only eight samples were collected at Kellermeister during the brief field investigation and four of these are above 50 parts per billion, peaking at 20 g/t.

Similarly, at Rosella, only two samples were collected, and both are above 1 g/t.

“New gold province”

Given the reconnaissance nature of the sampling program and the limited number of samples collected at these new prospects, these results are considered an excellent first-pass outcome.

Core managing director Stephen Biggins said: “Core continues to uncover new gold prospects using low-cost field-oriented programs.

“It appears likely that continuation of this program in concert with more detailed exploration will result in even further prospects in what is evolving into a significant new gold province.”

The company believes the potential of the BBF Gold Field and Bynoe Gold Project is only just starting to be understood.

Gold-in-soils grid showing the location of Kellermeister and Rosella prospects and Core’s other gold targets and prospects in the southern part of the Bynoe Gold Project.

Regional mapping and sampling

The company’s recent regional mapping and reconnaissance rock chip sampling have led to the discovery of some new gold prospects, including Covidicus West, Pickled Parrot, Piper North and Far East.

At each of these prospects, gold occurs in sulphide-bearing quartz veins up to 15 metres wide and 100 metres long and is also locally visible.

Core has recently completed a second round of rock chip sampling and several lines of soil samples across both prospects, based purely on the similarity of veins to Covidicus West with results expected in the coming weeks.

Looking forwards

Biggins said: “Further assay results from Core’s recent mapping, rock chip and soil sampling are expected over the coming weeks and months.

“A number of the target areas are also accessible into the early wet season, enabling the company to maintain gold exploration momentum after lithium resource drilling at Grants has ceased.

“Whilst we keep receiving positive gold results from our work in 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.”

Quick facts: Core Lithium Ltd

Price: 0.205 AUD

Market: ASX
Market Cap: $205.5 m

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