Lithium-focused aspirant Core Exploration has returned significant high-grade assay results from the Grants prospect at the Finniss lithium project near Darwin in the Northern Territory.
The company believes that the results, discovered outside of the current established mineral resource, are significant enough to lead to a potential expansion for the project.
This is also expected to have a a positive impact on financial returns from the company’s in-development 1 million tonnes per year (MT/y), 3.45Mt (0.75 per cent cut off) Finniss lithium project, south of Darwin Port.
Multiple high-grade lithium intersections have been discovered, including 67m at 1.57 per cent lithium oxide (FRC151), 45m at 1.72 per cent lithium oxide (FRC154 and FRC159) and 30m at 1.7 per cent lithium oxide (FRC153).
Core expects these results to contribute to a potential project extension, further increasing the size of both the mineral resource and mine life of Grants. Results from other deposits at Finniss, including Carlton, Hang Gong, Highland and Far West Central, are all expected within the next month.
Reverse circulation drilling is currently underway at the adjacent BP33 pegmatite tenement, with assay results expected in the coming weeks.
Core managing director Stephen Biggins said the results highlighted Finniss’s significant upside potential.
“These new extensions to the mineral resource area, as well as the addition of BP33 mineral resources, are expected to have a material impact on the economics for the Finniss project.
“The pre-feasibility study for Grants highlighted exceptional returns and these results, which nave the potential to extend the mine life of the project at minimal to no additional capex, are extremely exciting.”