Core Lithium (ASX: CXO) Hits 92m at Blackbeard Lithium Prospect

Core Lithium has reported the longest mineralised intersection yet drilled at its Blackbeard prospect, strengthening evidence that the lithium-bearing pegmatite could become an additional ore source for the Finniss operation in the Northern Territory.

Diamond hole NMRD104 returned 92 metres at 1.25% lithium oxide from 92 metres downhole, including 73 metres at 1.45% from 110 metres. Core estimates the broader interval has a true width of about 45 metres, with the higher-grade section measuring approximately 35 metres in true width.

The hole was drilled around 80 metres up-dip from an earlier intersection of 63 metres at 1.67% lithium oxide. The result confirms mineralisation between the two holes and provides further information on the geometry of the steeply dipping pegmatite.

Partial assays from NMRD108 also returned 29 metres at 1.35% lithium oxide from 209 metres, with an estimated true width of about 17 metres. That hole is approximately 50 metres along strike from an earlier result of 41 metres at 1.63%.

Assays remain outstanding for about 67 metres of NMRD108’s overall 96-metre downhole pegmatite intersection, leaving the full mineralised extent of the hole unresolved.

Existing infrastructure shapes the opportunity

Blackbeard is part of Core’s wholly owned Finniss Lithium Operation and is located less than 20 kilometres from its processing plant. That proximity, together with established logistics and infrastructure, could reduce the amount of standalone development required if the prospect advances through resource definition and mining studies.

Core currently has more than 2 million tonnes per annum of crushing capacity at Finniss. The company is assessing whether successful resource definition at Blackbeard could support plant throughput above the current 1.2 million-tonne-per-annum base case while using infrastructure already built at the operation.

Any development case remains preliminary. Core has not estimated a Mineral Resource for Blackbeard, and it says current drill spacing is not yet sufficient to establish the geological and grade continuity required for one.

Results show variability across the prospect

The latest release covers assays from five completed diamond holes and initial samples from a sixth. While NMRD104 delivered the standout intersection, two deep holes targeting the pegmatite at depth returned no significant intercepts.

NMRD103 recorded 19 metres at 0.59% lithium oxide from 330 metres. NMRD105 returned several narrower zones, including four metres at 1.11% from 142 metres and 13 metres at 0.72% from 203 metres.

The results form part of a staged 12,150-metre diamond drilling campaign intended to expand the known extent of the Blackbeard pegmatite and support Core’s broader resource growth and mine-life strategy at Finniss. Drilling is continuing, with further assays to be released as they become available.