Adelaide -
Liontown Resources (ASX:LTR),
Core Exploration Ltd. (ASX:CXO) and
Kingston Resources Limited (ASX:KSN) (the Companies) are pleased to advise a collaborative approach to undertake a major, jointly funded airborne geophysical survey across the Bynoe/Finniss Pegmatite Field located near Darwin in the Northern Territory.
Key Points:
- Major jointly funded survey to cover a total area of 385km2
- First geophysical survey to be undertaken in the region more than 30 years
- Recent exploration has shown the potential for new pegmatite discoveries under cover
- Significant new lithium discoveries announced recently by Liontown and Core
The survey, which commenced recently and is being flown by Thomson Aviation, will total 2,234 line kilometres and cover an area of approximately 385km2 (see Figure 1 in the link below) comprising low-level (35-40m sensor height), 50m spaced, east-west lines. It is expected to take approximately 20 days to complete.
A previous aeromagnetic survey flown in 1981 comprised 500m spaced, north-south lines (sub-parallel to the main mineralised trend) with a sensor height of 100m.
Numerous historic rare-metal pegmatites have been documented by the Northern Territory Geological Survey and this data has been used to target initial drilling programs by Core and Liontown, and geochemical surveying by Kingston. Large parts of the region however, are obscured by shallow, transported cover under which the exploration potential is considered to be high.
The Companies believe the Bynoe/Finniss Pegmatite Field is highly prospective for economic lithium deposits and the investment in a detailed geophysical survey will facilitate future discoveries and be used to target drilling.
To view tables and figures, please visit:
http://abnnewswire.net/lnk/T1QQ206E
About Core Exploration Ltd:
Core Exploration Ltd. (ASX:CXO) aims to grow shareholder value through the exploration for and discovery of commercially robust base metal and uranium deposits in South Australia and the Northern Territory. Core Exploration's projects have been carefully acquired in geology which hosts world-class mines and within some of the most prospective geological terrains for base metals and uranium in Australia.
Source:
Core Exploration Ltd.
Contact:
Stephen Biggins Managing Director
Core Exploration Ltd.
T: +61-8-7324-2987
E: info@coreexploration.com.au
