Core Lithium Ltd (ASX: CXO), an Australian lithium mining company, announced a 62% rise in its mineral resource estimate at the Finniss Lithium Operation in Northern Territory. The company's measured and indicated mineral resource also increased by 46% to 19.4Mt at 1.37% Li2O. These significant increases were due to the largest drilling program in the company's history, conducted in 2022.
In 2022, Core Lithium conducted a drilling program spanning 39,600m of reverse circulation and diamond drilling at both established deposits and new prospects in the Bynoe Pegmatite Field, situated 15 km south of Darwin. The Bynoe Pegmatite Field is home to around 100 pegmatites of varying sizes, ranging from a few meters wide and tens of meters long to tens of meters wide and hundreds of meters long. Core Lithium has allocated AU$25 million to a 2023 drilling campaign, nearly double the budget allocated for 2022, in order to further increase its total mineral resource estimate.
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Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
