Core Lithium has received promising results from its first phase of gold exploration at the Bynoe project in the Northern Territory.
One rock chip assayed over 100 grams per tonne of gold, with the most impressive result being 106.5 grams per tonne. Numerous others exceeded 10 grams per tonne.
The presence of gold is further confirmed by visible gold grains in arsenopyrite at the Covidicus West prospect.
Core Lithium stated that Covidicus West had neither previous exploration data nor evidence of historic workings despite obvious weathered sulphide at the site.
Modern exploration in the Bynoe area has focussed on pegmatite-hosted tin, tantalum and more recently lithium.
“Finding visible gold at surface at a virgin prospect is remarkable given that our first phase of gold focussed field investigations only started on the Bynoe gold project two months ago,” Core Lithium managing director Stephen Biggins said.
“These impressive gold grades encountered this early in the process, along with over 10 million ounces of gold resource inventory within the Pine Creek Orogen substantiates the district-scale gold potential of the project outlined by Core earlier this year and bodes well for future discovery.”
Core Lithium expects further assays of its mapping, rock-chip and soil sampling over the coming weeks and months.
The company holds nearly 500 square kilometres of tenements covering the Bynoe pegmatite field – a focus area of its ongoing exploration at the Finniss lithium project.