Not just lithium for Core
CORE Lithum also runs copper, zinc and lead projects across Australia.
At the Jervois Domain in the Northern Territory, Core’s drilling has confirmed that the 20km Big-J target zone has the geology, geophysics and indications of nearsurface copper mineralisation consistent with KGL Resources’ neighbouring Jervois Copper Project, but on a larger exploration scale.
As well, Core’s first pass shallow drilling program found visible copper mineralisation over intersections several metres wide in a number of drill holes and elevated copper levels on all five traverses drilled across a 15km section of Big-J.
KGL’s nearby work has also shown the success of applying geophysics to find deeper deposits at Jervois, so Core intends to complement its near surface exploration with additional geophysics to aid drill targeting and interpretation.
In South Australia, zinc assays from broad mineralised breccia zones drilled by Core during the 2016 reporting period indicated that the company has possibly discovered a new sedimentary-hosted zinc system on the Yerelina Zinc Project, which covers a total area of 1000sqkm.
The mineralised zones intersected are located down dip of outcropping mineralised gossans.
Surface channel sampling of these gossans at Great Gladstone and Big Hill within Yerelina returned significant zinc, lead and silver assays.
The gossans are interpreted as the mineralised surface expression of a fault zones mapped at surface and by magnetics over 1km-3km.
The geology and system at Yerelina has potential to host large stratiform deposits in association within the known calcareous and reef limestone host facies within the Tapley Hill Formation proximal to drilled and also other known mineralised discordant structures.
Elsewhere, Core received impressive silver and lead results in reverse circulation (RC) drilling at its Blueys and Inkheart Prospects in the Northern Territory.
Core’s drilling in 2014 intersected additional broad zones of silver and lead mineralisation including high grades of silver and lead at Inkheart.
The mineralised zone was intercepted consistently for at least 500m along strike and contained wide and highgrade intersections mostly within the host carbonates of the Bitter Springs Formation.
The near-surface silver and lead mineralisation at the Blueys Silver Prospect is believed to be enhanced by supergene processes with the majority of high grade mineralisation at the base of oxidation of the Bitter Spring Formation sediments.
The grade and continuity of mineralisation intersected by Core’s drilling at depth, along with growing confidence in a predictable exploration model for high grade silver lead mineralisation at Inkheart strengthen the potential for further success in this exploration province in the NT.
Core was also the successful applicant and was granted the tenement over the advanced Napperby Uranium Project in the NT in 2017.
The Napperby tenement area was the subject of an internationally competitive tender process with Core adjudged to have the best financial and technical resources available to advance the project.
With the uranium price on the rise, Core has received expressions of interest from multiple parties regarding Napperby.
To enable Core to remain focussed on the development of the Finniss Lithium Project and also achieve full value of the uranium deposit for shareholders, Core has commenced engaging with these parties regarding a potential sale or partial sale of Napperby.