Core Exploration Ltd (ASX:CXO) has confirmed the potential for lithium-caesium-tantalum mineralisation following soil and rock chip sampling at its Barrow Creek project in the Northern Territory.
Barrow Creek has a long history of tin and tantalum production, similar to the company’s Finniss Lithium Project.
The regional-spaced soil samples of over 2,000 samples collected indicates a substantially larger footprint of lithium anomalism than depicted by historic pegmatite workings.
Core’s baseline exploration highlighted a new large prospect area called Tesla, where elevated lithium in soils form a five kilometre long trend highlighting previously unmapped pegmatites.
At the Ringing Rocks prospect, a distinct lithium-in-soils anomaly is coincident with the outcrop position of two large pegmatite bodies with surface rock chips assaying up to 0.6% lithium.
On a local scale, rock chips and detailed mapping have confirmed the lithium potential of a number of historic prospects, including Jump Up, Ballace’s Claim 1 & 2 and a few others.
Core has the opportunity to commence drilling at the Barrow Creek Project in February-March 2018 once the current field season is completed at the Finniss Lithium Project.
With this in mind, the company has initiated a heritage clearance with the Aboriginal Areas Protection Authority to enable ground disturbing works at a number of the key prospects
The company’s shares were last trading circa 6% higher intra-day, at $0.056.