Core hits gold and lithium at Shoobridge

Core Lithium has revealed assay results from 21 of 28 recently completed drill holes, which includes a standout intercept of 2m at 12.9 grams per tonne (g/t) gold from 54m.

These positive results come from a recently completed drilling program at the Shoobridge project, located 160km south of its Finniss lithium operation in the Northern Territory.

The program, conducted in July and August, targeted gold and lithium across five prospect areas, with 28 reverse circulation (RC) drill holes totalling 3535m.

“Shoobridge is a prime example of the multi-commodity potential that exists across our Northern Territory exploration projects,” Core Lithium chief executive officer Paul Brown said.

“In addition to pegmatite fields known to be prospective for lithium, Shoobridge also contains, high-grade quartz-hosted gold.

“Returning drill hits with grades up to 12.9g/t gold in a new area is very encouraging and builds a strong case for follow-up activities targeting gold.”

Further gold intercepts at the Mount Shoobridge prospect include 6m at 0.63g/t gold from 20m and 1m at 1.65g/t gold from 20m, confirming the project’s gold potential.

Lithium mineralisation was also recorded, with grades of up to 1.41 per cent lithium oxide at the Barretts prospect and tin mineralisation at China Hill returned up to 3.52 per cent tin oxide.

“Our exploration program will remain weighted towards lithium targets within trucking distance of our Finniss infrastructure,” Brown said.

“However, demonstrating the potential to find a high-grade gold deposit provides us with optionality in this strong gold price environment.”

Core Lithium is planning to expand its drilling program and will review historical drill data, targeting a maiden gold JORC 2012 mineral resource estimate.

The remaining drill results is expected to be received later this month, with approvals in place for drilling and further ground-based targeting work ongoing.