Core Lithium Ltd (ASX:CXO) has confirmed new high-grade spodumene pegmatite intersections at the Carlton Prospect that are expected to expand the lithium resource.
The expanding Carlton lithium resource is currently being considered for addition to the development schedule and should add significant mine-life to the Finniss Lithium Project near Darwin in the NT.
High-grade results
High-grade lithium intersections outside the current resource include:
- 35 metres at 1.32% lithium oxide (NRC151);
- 14 metres at 1.40% lithium oxide and 8 metres at 1.37% lithium oxide (NRC154); and
- 23 metres at 1.12% lithium oxide and 32 metres at 1.52 % lithium oxide (NRC156) Including 5 metres at 2.69% lithium oxide.
These new drill results show that the primary pegmatite body at Carlton extends at least a further 100 metres vertically from previous drilling, and also extends south by an additional 100 metres.
A number of drill holes also intersected a second pegmatite body in addition to the primary pegmatite
Cross-section showing primary and new secondary pegmatite body south of the current resource at Carlton
Core managing director Stephen Biggins said: “Cores ability to continue to find, expand and define new high grade spodumene pegmatite deposits at Finniss sets the path to delivering a long-term high-quality lithium supply on Asias doorstep.
“Recently renewed Chinese Government support for the Electric Vehicle industry is expected to strengthen Asian EV sales alongside remarkable 30%-40% year-on-year growth in EVs in Europe.
“I wouldnt be surprised to see markets panic about the future shortfall in lithium supply as forecasts start to take into account lack of investment in new lithium supply as EV sales accelerate in China and back calculate the time needed for new supply to qualify to be on the road in a lithium battery in a new EV.
“Todays lithium inventory will look like a small speed-bump on the EV super-highway of tomorrow.”
Main prospects in the northern FinnissRead More – Source
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