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CORE LITHIUM LTD — Regulatory Filings 2011
Aug 1, 2011
64737_rns_2011-08-01_ffc9b5d6-7bd5-4b07-a04b-41ba0ffbe618.pdf
Regulatory Filings
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ASX ANNOUNCEMENT
ASX : CXO
2 August 2011
Core commences maiden copper-gold drilling on SA’s Yorke Peninsula
The Board of Core Exploration Ltd (ASX:CXO) is pleased to announce that the Company’s first drilling program, since listing on the ASX earlier this year, has commenced on its prospective Yorke Peninsula Project in South Australia.
Core’s Managing Director, Mr Stephen Biggins, said “the first air-core drill program had been doubled in size to 4,000m as a result of the Company’s increasing confidence in the IOCG (Iron Oxide Copper Gold) potential of the Yorke Peninsula Project.”
Core’s earlier geophysical surveys have defined a large-scale set of magnetic and gravity drill targets identified within the 12km long, 2-4km wide Palace Structural Zone (Figure 1).
“This geophysical scenario is a strong indicator of magnetite/hematite iron oxide alteration systems and potentially IOCG style mineralisation,” he said.
Importantly, these large-scale gravity and magnetic drill targets are hosted in an analogous geological setting to Rex Minerals’ (ASX:RXM) Hillside Project (Inferred and Indicated Resource of 217Mt at 0.7% copper and 0.2g/t gold) on the adjacent tenement.
The drilling is expected to take 3 weeks with the assay results to be available a further 6 to 8 weeks after drilling concludes.
For further information please contact:
Stephen Biggins Kevin Skinner Managing Director Field Public Relations Core Exploration Ltd 08 7324 2987 08 8234 9555 [email protected] [email protected]
The information in this report has been compiled by Stephen Biggins (BSc(Hons)Geol, MBA) as Managing Director of Core Exploration Ltd and who is a member of the Australasian Institute of Mining and Metallurgy and is bound by and follows the Institute’s codes and recommended practices. As a Competent Person, he has a minimum of 5 years relevant experience in the style of mineralisation and types of activities being reported and has given written consent to the above report in the form and context in which it appears.
A Level 2, 143 Hutt St, Adelaide SA 5000 | T (08) 7324 2987 | F (08) 8312 2002 | E [email protected] www.coreexploration.com.au
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Figure 1: Drill targets with residual gravity contours overlain on Magnetic (RTP)
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Figure 2: Core Exploration’s Yorke Peninsula Project, South Australia
A Level 2, 143 Hutt Street, Adelaide SA 5000 | T (08) 7324 2987| F (08) 8312 2002| E [email protected] www.coreexploration.com.au
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