- Core Lithium (CXO) more than doubles the mineral resource for the BP33 deposit within its Finnis lithium project in the Northern Territory
- Reverse circulation and diamond drilling at BP33 in 2022 have culminated in a new mineral resource estimate of 10.1 million tonnes at 1.48 per cent lithium oxide
- This is up from the prior MRE of 4.37 million tonnes at 1.53 per cent lithium oxide
- Core says the mineralisation at BP33 appears to be open down-plunge and along-strike, with potential for increases to the mineral resource in future drilling programs
- CXO shares are up 6.51 per cent and trading at $1.02 at 12:30 pm
Core Lithium (CXO) has more than doubled the mineral resource for the BP33 deposit within its Finnis lithium project in the Northern Territory.
Reverse circulation and diamond drilling completed at the deposit over 2022 have culminated in a resource estimate of 10.1 million tonnes at 1.48 per cent lithium oxide.
For comparison, the previous BP33 estimate was 4.37 million tonnes at 1.53 per cent lithium oxide.
The company also completed 11 drill holes at BP33 targeting extensions along-strike and down-dip to the existing orebody.
CXO said this work showed that the mineralisation in the area appeared open down-plunge and along-strike, with potential for further increases to the BP33 mineral resource in future drilling programs.
Further drill results are pending for the remainder of the 2022 drilling program, and work is underway to update a global Finniss mineral resource and ore reserve estimate.
BP33 is the second proposed mine at Finniss currently awaiting development approval.
CXO shares were up 6.51 per cent and trading at $1.02 at 12:30 pm.