Each one in plain English, with the numbers worked through for a shareholder.
11 Apr 2018drilling result▲ GoodMajor
Assays for BP33 hole FRCD007 give 75m at 1.68% Li2O, including 55m at 1.97%, the widest spodumene pegmatite drilled in the NT. It confirms February's visual estimate and the hole ended in mineralisation. A maiden BP33 resource is now expected in May.
More Grants infill assays include 41.1m at 1.77% Li2O and 41.0m at 1.59%; 49 of 50 resource holes are mineralised across the pegmatite. Resource evaluation has begun, with the PFS to follow shortly after. Regional drilling is due to start in May.
Grants infill drilling returned wide high grades, including 53.2m at 1.69% Li2O and 37.2m at 1.71%. Core expects a significant boost to the Indicated portion of the 1.8Mt resource, which feeds the PFS. Resource work starts once all assays are in.
New BP33 diamond hole FMRD004 hit 42.9m at 1.39% Li2O, with similar-looking core to the 86m hole FMRD007, whose assays are due in March. A first BP33 resource estimate is planned to start late March. Follow-up drilling is planned for the Q2 dry season.
Diamond hole FRCD007 at BP33 intersected 86m of spodumene pegmatite and ended still in it, the widest in the NT. This is a visual estimate, not assays, at 15-20% spodumene. Minimum true width is at least 40m; more drilling is planned in the Q2 dry season.
New BP33 assays include 36m at 1.61% Li2O in FRC108 and 49m at 1.02% in FMRD003. The pegmatite is open south toward BP32 and BP32W, which could give about 500m of strike if connected (inference from text). A maiden BP33 resource is targeted for March.
First Core drilling on the Bynoe ground hit high grades at four historic pegmatite prospects, including 10m at 1.6% Li2O at Carlton and 5m at 2.2% at Hang Gong. Pegmatites are shallow-dipping and within 5km of Grants. Follow-up drilling is planned when the dry season starts.
Resource infill drilling began at Grants with two rigs and a third due, to upgrade the 1.8Mt at 1.5% Li2O resource's confidence. First assays are due in February and an updated resource in March 2018, feeding the PFS. Metallurgical and geotechnical drilling is included.
Diamond drilling resumed at BP33 for a maiden resource, which would be Core's second deposit at Finniss. Only previously reported intercepts are repeated. December diamond core assays are due in coming weeks; the rig moves to Grants in early February.
Core's first drilling at Sandras on the acquired Bynoe ground hit 27m at 1.45% Li2O (including 7m at 2.13%) and 38m at 1.08%. This shows spodumene pegmatite beyond Grants and BP33. Further drilling is planned for 2018.
Remaining BP33 assays extend hole FRC104 to 62m at 1.24% Li2O, adding to November's 54m at 1.42%. Pegmatite is open north and south and thicker at depth. Diamond drilling continues toward a first BP33 resource; FRC105's 8m of pegmatite returned no significant lithium.
BP33 assays confirm wide high-grade lithium: 54m at 1.42% Li2O in FRC103 and 46m at 1.51% in FRC104, among the widest in the NT. Diamond drilling has begun toward a first BP33 resource, which Core expects to add to Finniss resources.
Bynoe drilling update: a 4,000m RC program started at Sandras, with shallow RAB at Hang Gong, running to December. Hole FRC105 hit pegmatite at BP33's southern end, and diamond drilling at BP33 starts next week. Grants infill drilling is planned for December.
First Core holes at BP33 on the newly acquired Bynoe ground hit the widest spodumene pegmatite yet there, including 55m in FRC103 and a 65m total in FRC104. These are visual estimates; assays are due within four weeks. Earlier best was 38m at 1.5% Li2O.
Surface sampling at Barrow Creek (2,342 soil, 404 rock chip samples) identified 13 pegmatite targets, 3 high priority, and a 5km Tesla lithium soil anomaly. Best rock chip is 0.6% Li2O. Early-stage; no drilling yet.
First Ringwood RC drilling (35 holes) hit pegmatites up to 150m true width, with best intersections 52m at 0.14% Li2O and 21m at 0.16%. Grades are low, only anomalous, but show lithium potential; a second shallow phase starts this month.
Drilling has started on new pegmatite targets near the Grants resource, beginning with about 2,500m of shallow RAB drilling, then RC drilling of priority targets. Targets came from a ground radar trial; RC assays are expected about 4 weeks after drilling ends.
First Zola RC drilling (9 holes) hit pegmatite up to 70m wide, but no assays above 0.1% Li2O, so no economic lithium. Core says the central zone is only a partial test and will drill outlying pegmatites from September.
Drilling has started at Ringwood (swarm over 4km by 2km), and shallow RAB holes have found pegmatite zones 50-100m wide. Zola's first RC program is complete with broad pegmatite in most holes; assays are due in August, Ringwood RC by late August.
RC drilling began at Zola, a pegmatite swarm over 1,500m long, with at least 10 holes, finishing in July and assays about 4 weeks later. Ringwood RC is expected in July. Air-core drilling and groundwater bores are also running at Grants, with over 2,500 soil samples collected.
2017 field season has started at Finniss, with soil surveys and mapping now under way. Shallow RAB and AC drilling is due to start later in May, followed by deeper RC and diamond drilling at Grants, Zola and Ringwood. No new results.
Core booked its first JORC 2012 resource at Grants: 1.8Mt at 1.5% Li2O (492,000t Indicated, 1,312,000t Inferred) at a 1.0% cut-off. A preliminary mining study is called positive for direct-shipping ore. This delivers the targeted maiden resource.
New magnetic survey data expands target potential at Ringwood, with some pegmatite targets potentially up to 1.5km long and 100m wide. Rock chips assayed up to 3.1% Li2O. No drilling yet; drilling is planned to resume this quarter after the wet season.
Final Phase 2 RC and diamond assays at Grants include 34m at 1.37% Li2O (FRCD005) and 23m at 1.51% (FRC041). The pegmatite is continuous over 300m and open below 200m depth. First resource work is due in Q2 2017, and drilling resumes after the wet season.
Two new Grants RC holes returned 53m at 1.59% Li2O and 42m at 1.60%. Grants is now defined over 300m of strike and open at depth. Final Phase 2 RC results are due late February and first metallurgical results in early March.
New RC assays at Ahoy, Ahoy East and Far West include 12m at 1.22% Li2O at Ahoy. Spodumene is now found at 6 of 7 prospects drilled. Far West grades are lower and mixed; follow-up showed the earlier 45m intersection was cut oblique to dip, so it overstated true width.
Six new Grants RC holes all hit thick high-grade lithium, including 59m at 1.45% Li2O and 55m at 1.42%. Grants now spans over 250m of strike and is open at depth. Core says this strengthens the case for early direct-shipping ore production, and may consider a mining study.
Diamond drilling restarted at Grants to test depth extensions. The expanded Phase 2 RC program totalled about 6,900m and finished in December. Remaining assays are expected in late January and February 2017.
First Phase 2 RC results at the new Far West prospect, 500m from Grants, include 45m at 1.57% Li2O (FRC030) and 17m at 1.12%. Pegmatites were intersected over 1,000m of strike. Assays from further holes are still due.
Assays from four diamond holes confirm thick high-grade lithium: 48m at 1.53% Li2O (Grants FRCD003, including 5m at 2.53%) and 34m at 1.47% at BP33. These match the earlier RC results. Two RC rigs continue drilling; 400kg of core is being tested.