- Core Lithium (CXO) has announced resource estimation drilling has recommenced at its Finniss Lithium Project
- The advanced lithium developer is working to further extend the Mineral Resources and Ore Reserves at the Grants and BP33 deposits
- An updated Mineral Resources and Ore Reserves will help potentially extended the mine life at the wider Finniss Project
- Two diamond drill rigs are targeting open extensions at the projects, with one rig already in place at the site
- Up to 5,000 metres will be drilled at Finniss, with the program to wrap up in November
- CXO shares are trading up 2.38 per cent at 4.3 cents each
Advanced lithium developer Core Lithium (CXO) has recommenced resource estimation drilling at its Finniss Lithium Project near Darwin in the Northern Territory.
The company is hoping to extend the Mineral Resources and Ore Reserves at the Grants and BP33 deposits at Finiss, after recent mine planning and assessment studies highlighted opportunities.
Updating the Mineral Resources and Ore Reserves will help Core Lithium potentially extended the life of mine at its Lithium Project.
Core said the first diamond drill rig had already arrived at the site near Darwin, with drilling operations targeting open extensions at the two deposits.
Previously, the last holes drilled at BP33 returned an outstanding lithium intersection of 107 metres at 1.7 per cent lithium oxide that is open along strike in both directions and at depth.
While the orebody at the Grants deposit is open below the intersection of 48m at 1.59 per cent lithium oxide from 224 metres.
Going forward, Core said a second diamond drilling rig will arrive in the coming week to assist the first rig with the up to 5,000 metres of drilling planned.
The company expects the two rigs to wrap up drilling at Finniss around November.
Shares in CXO are trading up a slight 2.38 per cent at 4.3 cents each towards the end of today’s trading session.