Core Lithium Limited has announced new drill results from the Grants Deposit that are expected to strengthen the current resource at the company’s 100 per cent owned Finniss Lithium project in the Northern Territory.
The Grants Lithium Resource is the first spodumene pegmatite deposit Core plans to mine in the development schedule of the Finniss Lithium Project. Consequently, as a priority, over the last three months, Core has been undertaking a program of resource infill and expansion drilling at Grants.
The company today revealed that some significant results returned include:
- 31 metres at 1.65 per cent lithium oxide (Li2O) from 197 metres, including 16 metres at 2.02 per cent Li2O from 207 metres (FRCD021); and
- 36 metres at 1.34 per cent Li2O from 183 metres, including 3 metres at 3.38 per cent Li2O from 188 metres (FRCD020).
- 13 metres at 1.68 per cent Li2O from 263 metres, including 8 metres at 2.04 per cent Li2O, and 12 metres at 1.60 per cent Li2O from 280 metres (FRCD018).
- 13 metres at 0.62 per cent Li2O from 309 metres (FMRD009).
- 33 metres at 1.49 per cent Li2O from 181 metres (FRC219).
- 17 metres at 1.52 per cent Li2O from 238 metres (FRC221).
These new drill results from Grants are expected to strengthen the current resource model in regard to size and reserves, with a high conversion of Inferred Resources to Indicated Resources and add Reserves to life of mine (LOM).
The company is still awaiting assay results for a new drill intersection of 55 metres of pegmatite outside of the current resource (FRCD022).
Core’s Managing Director, Stephen Biggins, said Core’s targeted drilling at Grants is expected to be successful in adding more tonnes to the overall Finniss Project at a pretty decent lithium grade.
“Importantly, this drilling will enable Core to be able to convert a high proportion of the Inferred Resource at Grants to Indicated and Reserves, and add further Reserves to the life of mine,” Mr Biggins said.
“We are currently completing geological and geotechnical logging of the recently drilled core samples and should receive the remaining drill assays later this month.”
“In due course, we expect to announce a new resource upgrade as a lead-in to the updated Definitive Feasibility Study, and we will also look to ramp up lithium exploration and resource growth drilling in the first half of 2021,” he commented.
Core’s full announcement can be found here.