Core Exploration has commence Phase 2 Reverse Circulation drilling on the Finniss Lithium Project near Darwin in the Northern Territory.
Phase 2, which follows a number of high grade lithium drill intersections from the company’s recently completed maiden Phase 1 drilling program, will consist of a minimum of 5,000 metres to test a number of lithium pegmatite exploration targets at the project.
“Exploration drilling in Phase 2 will be the first test of a number of recently identified pegmatite targets including Far-West North, Ahoys SE and Central as well as follow-up of initial results from Grants, BP33, Far West Central and Ah Hoy Prospects,” Core told the ASX, adding that the drill program will continue until the start of the upcoming wet season.
The company has also lodged applications to drill on newly granted EL 31126 and EL31127 to test priority targets at Zola and Ringwood Prospects.
“Core is aiming to drill these prospects as soon as possible, and may occur during the 2016 field season, subject to approvals being received before the commencement of the wet season.”
According to Core, the diamond drill rig has now moved from the BP33 pegmatite and has commenced drilling at the Grants prospects to follow up the high grade intersections from the Phase 1 RC program which included: 49m @ 1.78% Li2O from71m (FRC007) at Grants; and 40m @ 1.66% Li2O from 58m (FRC018) at Grants.
The company will provide update reports from the RC and Diamond drilling over the coming weeks with the majority of the drill assays expected during December.
Core’s Finniss Lithium Project has substantial infrastructure advantages being close to grid power, gas and rail infrastructure and within east trucking distance by sealed road to the multi-user port facility at Darwin Port, Australia’s newest port to Asia.
The Project covers a large portion of the Bynoe Tin-Tantalum-Lithium Pegmatite field which is a 15-20 kilometre wide belt of more than 90 tin and tantalum prospects and mines.
Bynoe is one of the most prospective areas for lithium in the NT and has many similarities to Greenbushes in WA, one of the world’s largest and highest grade spodumene deposits.