Next Investors logo grey

Potential for significant extension at CXO’s NT lithium project


Published 14-FEB-2018 11:48 A.M.


1 minute read

Hey! Looks like you have stumbled on the section of our website where we have archived articles from our old business model.

In 2019 the original founding team returned to run Next Investors, we changed our business model to only write about stocks we carefully research and are invested in for the long term.

The below articles were written under our previous business model. We have kept these articles online here for your reference.

Our new mission is to build a high performing ASX micro cap investment portfolio and share our research, analysis and investment strategy with our readers.

Click Here to View Latest Articles

ASX small-cap Core Exploration (ASX:CXO) has today revealed that new wide and high-grade lithium intersections have identified substantial strike and depth extension potential at the BP33 pegmatite prospect within its Finniss Lithium Project.

The Finniss Project is situated near Darwin in the Northern Territory. Notably, CXO was the first ASX-listed junior to highlight the lithium potential of the pegmatites in the NT in 2016.

Recent diamond core drilling has confirmed that extensions of the BP33 spodumene pegmatite are open south and south-west toward pegmatites 200 to 300 metres along strike at the BP32 and BP32W prospects.

If these pegmatites are connected, then there is substantial strike length of around 500 metres to the BP33/BP32/BP32W pegmatite system.

New high-grade lithium assay results received from diamond drilling competed late last year at BP33 include:

  • 36m at 1.61% lithium from 135m in FRC108
    • Including 14m at 2.05% lithium
  • 49m at 1.02% lithium from 138m in FMRD003
    • Including 3m at 2.18% lithium

core exploration finniss project

Recent drill assay results and location of CXO’s drilling to date at BP33

Drilling at BP33 has aimed to establish a maiden Resource estimate, building on CXO’s lithium resource inventory at Finniss.

This first phase of the resource-focused diamond drilling at BP33 is now completed, with further assay results expected later this month and into March.

At the same time, it’s worth noting that this is an early stage play and investors should seek professional financial advice if considering this company for their portfolio.

Resource upgrade drilling is also continuing at the Grants deposit situated five kilometres from BP33, for which a Pre-Feasibility Study is currently underway.

CXO is planning to drill at both the BP32 and BP32W prospects as soon as the 2018 dry season commences, aiming to test the continuity and grade of these pegmatites adjacent and along strike from the high-grade BP33.



General Information Only

S3 Consortium Pty Ltd (S3, ‘we’, ‘us’, ‘our’) (CAR No. 433913) is a corporate authorised representative of LeMessurier Securities Pty Ltd (AFSL No. 296877). The information contained in this article is general information and is for informational purposes only. Any advice is general advice only. Any advice contained in this article does not constitute personal advice and S3 has not taken into consideration your personal objectives, financial situation or needs. Please seek your own independent professional advice before making any financial investment decision. Those persons acting upon information contained in this article do so entirely at their own risk.

Conflicts of Interest Notice

S3 and its associated entities may hold investments in companies featured in its articles, including through being paid in the securities of the companies we provide commentary on. We disclose the securities held in relation to a particular company that we provide commentary on. Refer to our Disclosure Policy for information on our self-imposed trading blackouts, hold conditions and de-risking (sell conditions) which seek to mitigate against any potential conflicts of interest.

Publication Notice and Disclaimer

The information contained in this article is current as at the publication date. At the time of publishing, the information contained in this article is based on sources which are available in the public domain that we consider to be reliable, and our own analysis of those sources. The views of the author may not reflect the views of the AFSL holder. Any decision by you to purchase securities in the companies featured in this article should be done so after you have sought your own independent professional advice regarding this information and made your own inquiries as to the validity of any information in this article.

Any forward-looking statements contained in this article are not guarantees or predictions of future performance, and involve known and unknown risks, uncertainties and other factors, many of which are beyond our control, and which may cause actual results or performance of companies featured to differ materially from those expressed in the statements contained in this article. S3 cannot and does not give any assurance that the results or performance expressed or implied by any forward-looking statements contained in this article will actually occur and readers are cautioned not to put undue reliance on forward-looking statements.

This article may include references to our past investing performance. Past performance is not a reliable indicator of our future investing performance.