Assay results from the Shoobridge drilling program in the Northern Territory has uncovered the potential for a large gold system.
Drilling undertaken by Core Lithium in 2024 found new gold results, including:
- 46m at 0.75 grams per tonne (g/t) of gold from 3m
- 34m at 0.97g/t of gold from 49m
Core will now move into the next phase of gold exploration at the site, informed by internal desktop evaluation of the potential for low cost, bulk mining of shallow oxide and primary gold mineralisation defined by drilling to date.
Core chief executive officer Paul Brown said the team now have a greater appreciation of what lies under Shoobridge.
“There appears to be a large, shallow body of oxide mineralisation and areas of higher grade material along the 800m of strike tested,” Brown said.
“We will now look at the economic opportunity to support a bulk, open pit gold mining operation of this style of mineralisation and use these parameters to inform the next phase of exploration at Shoobridge and determine how we take the project forward.”
While the Shoobridge results are encouraging, Core said it would remain focused on the restart study at the Finniss lithium mine in the NT, on track for completion during the June quarter of 2025.
Shoobridge lies approximately 7km west of Agnico Eagle’s Cosmo Deeps gold mine and 60km from the idle gold processing facility at Union Reefs.
“With gold prices now at all-time highs, the tenure presents a strategically located asset with significant exploration upside in a region containing several multi-million-ounce deposits,” Core said.
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