CXO releases promising assays from Sandras lithium prospect
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Core Exploration (ASX:CXO) has received new high-grade lithium assays from recent RC drilling at its Sandras Prospect in the Northern Territory.
Sandras is part of the company’s recent Bynoe Lithium Project acquisition, which is adjacent to the Grants Lithium Resource and the BP33 spodumene pegmatite. The drill hole locations are shown on the map below:
The highest-grade intersections at Sandras so far include:
- 27 metres at 1.45% lithium from 195 metres in SRC006, including a high grade interval of 7 metres at 2.13% lithium from 201 metres
- 38 metres at 1.08% lithium from 94 metres in SRC002, including 8 metres at 1.86% lithium from 95 metres
- 19 metres at 1.28% lithium from 106 metres in SRC008, including 5 metres at 1.89% lithium from 111 metres
However it is an early stage of this company’s development and if considering this stock for your portfolio you should take all public information into account and seek professional financial advice.
The below drill cross-section shows CXO’s RC drilling results at Sandras, downdip from previous LTR drilling:
The high-grade intersections confirm the presence of other pegmatites beyond Grants and BP33, comprising significant spodumene grades and thickness. The very high-grade intervals of 7 metres at 2.13% lithium are in line with those at Grants and BP33.
The results also confirm that spodumene grades increase with depth at the site, and support the concept of a southerly plunge to the pegmatite body. RC drill hole SRC005 terminated at 161 metres, before reaching its target depth.
The below table shows a summary of results from the Sandras prospect:
Source: Core Exploration
Next steps for the Sandras prospect
In the new year, CXO will test the prospect’s southerly plunge model via a diamond drill core tail. The company will also assess the recently received drill results and undertake a preliminary evaluation of spodumene mineralisation at Sandras during 2018.
The company is focused on continued diamond drilling and newly deployed RC drilling at BP33 through to year’s end, with RC and diamond rigs to commence Resource Upgrade drilling at the Grants prospect in January 2018.
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