Core Lithium Ltd
Core Lithium (ASX:CXO), formerly Core Exploration is listed on the Australian Securities Exchange.
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Core Lithium’s initial drilling confirms gold along entire 1.6-kilometre Far East belt at Bynoe Gold Project
Core Lithium Ltd's (ASX:CXO) (OTCMKTS:CXOXF) rotary air blast (RAB) drilling has found gold mineralisation beneath the newly-discovered Far East belt at its wholly-owned Bynoe Gold Project in the Northern Territory.
Initial drilling by Core has confirmed gold mineralisation beneath the 100-150 metres-wide and 1.6 kilometre-long series of sulphide-rich, gold-bearing quartz veins, with about one-third of the holes intersecting gold mineralisation of more than 0.5 g/t.
Gold prospectivity can be rapidly substantiated through cost-effective exploration, given the logistical and technical synergies with Core's lithium exploration team.
Core remains focused on delivering Australia's next lithium project with lithium resource and geotechnical drilling at the Finniss Project to be completed this month.
Focus on finalising updated DFS
Core managing director Stephen Biggins said the company viewed the RAB assay results as evidence of a broad-scale gold mineralising system at play in the Bynoe Gold Project.
"Though it is surprising that the area has not received attention for gold, it must be remembered that the Pine Creek region hosts over 13 million ounces of gold and has previously produced between 4 million-5 million ounces of gold.
"With Core's lithium resource drilling having been completed at the nearby flagship Finniss Lithium Project, Core will now focus on defining lithium mineral resources and finalising an updated DFS.
"Core is also now well-funded to recommence an expanded lithium and gold exploration program in the second quarter of 2021 over the company's significant tenement holding - to expand the Finniss Lithium Project resources and life of mine and unlock the value of the gold potential of the Bynoe Gold Project."
Other Core Lithium Ltd news
- Core Lithium makes solid progress on road to becoming Australia’s next lithium producer
2021-02-15 - Core Lithium receives $5 million concessional finance facility from NT Government for Finniss development
2020-08-05 - Core Lithium completes purchase of Bynoe Lithium Project with final $1.5 million cash payment
2020-07-07 - Core Lithium lifts Finniss lithium resource more than 50% to 15 million tonnes
2020-06-15 - Core Lithium $7 million capital raising follows first European offtake from Finniss project
2020-05-27
