Core Exploration Ltd.: Finniss Lithium Project Area Expanded 250%
02.02.2017 | ABN Newswire
Adelaide, Australia - Core Exploration Ltd. (ASX:CXO) ("Core" or the "Company") is pleased to announce that the granting of two new Exploration Licences has resulted in an increase in granted tenure of 250% at the Company's 100% owned Finniss Lithium Project near Darwin in the NT.HIGHLIGHTS
- Core's 100%-owned granted tenure at Finniss has expanded 250% and now exceeds 400 square kilometres
- Core has received grant of two new large Exploration Licences as part of the Finniss Lithium Project near Darwin
- The Finniss Project includes the highest grade lithium drill results and the largest historic pegmatite mine in the NT
- Core holds the largest lithium tenure position in the NT
- The Company is well funded and will continue to aggressively explore and advance development assessment of its high grade lithium discoveries in 2017
The recent grant of two new Exploration Licences EL 31271 and EL 31279 adds another 240km2 of granted tenements to Core's Finniss Lithium Project, which now totals over 400km2 in size (Figure 1, see link below).
Core has proven success in finding previously undiscovered large pegmatites and drilling high grade spodumene mineralisation within its other ELs within the Finniss Lithium Project.
For example, the large Zola Pegmatite Prospect (ASX 23/06/2016) was found by Core within new EL 31126 and Ringwood Pegmatite Prospect (ASX 18/10/2016) within new EL 31127 during 2016 (Figure 1). Full approvals for Core to commence drilling are in now place to drill Zola and Ringwood pegmatite targets as soon as the 2017 field season commences.
In addition to drilling the large Zola and Ringwood prospects, Core is planning to undertake exploration programmes on these large, newly granted tenements that will be similar to the programmes that were highly successful for Core in 2016, leading to the discovery of multiple high grade lithium rich pegmatites at the Finniss Project, including the Grants, BP33 and Far West prospects.
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About Core Exploration Ltd:
Core Exploration Ltd. (ASX:CXO) aims to grow shareholder value through the exploration for and discovery of commercially robust base metal and uranium deposits in South Australia and the Northern Territory. Core Exploration's projects have been carefully acquired in geology which hosts world-class mines and within some of the most prospective geological terrains for base metals and uranium in Australia.
Contact:
Stephen Biggins Managing Director
Core Exploration Ltd.
T: +61-8-7324-2987
E: info@coreexploration.com.au