Core Lithium has revealed new high-grade lithium drill results within 20km of the Grants processing facility at its Finniss operation in the Northern Territory.
Finniss is an open pit hard-rock lithium project on the Cox Peninsula, located 88km south-west and by sealed road from the Darwin Port.
Initial assays from recent drilling at the project’s Blackbeard prospect have revealed wide zones of spodumene mineralisation.
The results included 63m at 1.67 per cent lithium oxide from 166m, including 20m at 2.09 per cent lithium oxide.
These results, together with those from the nearby Centurion prospect, demonstrate mineralised pegmatites exist along a clearly defined strike length within the company’s existing mining lease.
The exploration focus for the 2024 field season at Finniss has been on testing large scale pegmatite targets which can potentially sustain lower cost production.
“The results from Blackbeard are highly encouraging and indicate we have discovered a large, highly mineralised pegmatite within a short distance of our processing infrastructure, consistent with the key objective of our 2024 field season,” Core Lithium chief executive officer Paul Brown said.
“Blackbeard is up to 45m wide and open at depth. Further drilling will be completed to determine the ultimate scale of the system.
“This will support a future mineral resource estimate and have potential to be incorporated into our ongoing restart studies.”
Drilling is set to continue at a number of high priority pegmatite targets across the Finniss project including further drilling of targets adjacent to Blackbeard.
All targets are within trucking distance of the Grants processing facility and results are expected next month.
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