Core Lithium Ltd · ASX:CXO
Core Lithium — Core Exploration — AusIMM Lithium Conference 2018
20 slides from Core Lithium's conference presentation, Jun 28, 2018
Slide 1: Lithium-Rich Pegmatites of the Bynoe Field, NT
For personal use only LITHIUM-RICH PEGMATITES OF THE BYNOE FIELD, NT David Rawlings AusIMM Lithium Conference Perth June 2018 1 | AusIMM Lithium – June 2018 | Core Exploration Ltd ASX code: CXO
Slide 2: Disclaimer
DISCLAIMER For personal use only The information in this report that relates to Exploration Results and Mineral Resources is based on information compiled by Stephen Biggins (BSc(Hons)Geol, MBA) as Managing Director of Core Exploration Ltd who is a member of the Australasian Institute of Mining and
Slide 3: Background
BACKGROUND Bynoe • Bynoe Pegmatite Field Field For personal use only • 15 km south of Darwin • Historic Sn-Ta Production from 1886 until late 1990’s • Now re-cast as a Lithium District • Current activity dominated by Core Exploration Ltd • NTGS Sn-Ta Studies • Ahmad, 1995 • Frater, 2005 3 | AusIMM L
Slide 4: Core's Finniss Lithium Project
CORE’S FINNISS LITHIUM PROJECT • 500 km2 of tenure For personal use only • Two of Australia’s highest grade lithium resources – Grants & BP33 • High grade Spodumene drill intersections at multiple prospects in first drill program in 2016 • 100’s of historic pegmatite prospects/mines • 100’s more lik
Slide 5: Grants Deposit
GRANTS DEPOSIT • Discovery hole: 49m @ 1.78% Li2O from 71m For personal use only (FRC006) • >220m long and 20-40 m wide • Single continuous body with consistent grade Exploration • Resource of 2Mt at 1.5% Li2O, 60% Indicated target • Exploration upside down-plunge to south currently being tested • P
Slide 6: BP33 Deposit
BP33 DEPOSIT • >140m long and 20-40 m wide 75m @ For personal use only 1.68% Li2O • Single continuous body with consistent grade • Resource of 1.4Mt at 1.40% Li2O • Open directly south of intersection of 75m @ 1.68% Li2O • Connection to BP32 & BP32W? • Current extension & infill drilling to expand r
Slide 7: Exploration History
Ah Hoys - costeans EXPLORATION HISTORY • Costeans, pits & shafts For personal use only • Mined/processed Sn-Ta in soft rock & alluvials • Greenbushes centralised processing plant • Lithium knowledge limited to amblygonite collectors • No spodumene at surface • Chemical weathering during Tertiary & r
Slide 8: Geological Setting
Bynoe Pegmatite Field GEOLOGICAL SETTING • ‘LCT Type’ (Li Cs Ta) pegmatites For personal use only • Source: Two Sisters Granite ~1850Ma • Host: Burrell Creek Fmn turbidites (Pine Ck Province) • Greenschist facies • Isoclinal to tight folds FOG BAY • Granite top dips east METCS • Regional fabric – su
Slide 9: Morphology
Carlton – NNE striking steep lozenge Lees – NE dipping stacked sheets MORPHOLOGY • Narrow veins & lozenge shapes For personal use only • Up to 500m long & 60m wide • Solitary or interconnected • Most N to NNE trending & steep dip (~regional fabric) • Discordant fault jogs & tension gashes with var d
Slide 10: Surface Expression
Grants PQ core SURFACE EXPRESSION • Clay saprolite (smectite-kaolinite) For personal use only Lees pit BP33 Lees 10 | AusIMM Lithium – June 2018 | Core Exploration Ltd
Slide 11: Surface Expression
Ringwood – Li soils grid & Li rockchips SURFACE EXPRESSION • Quartz float & blows For personal use only Ringwood • Laterite iso-surface • Blacksoil drainage • Vegetation • Soils/RAB • Li, Cs, Rb, Sn, Ta Zola 11 | AusIMM Lithium – June 2018 | Core Exploration Ltd
Slide 12: Pegmatite Mineralogy
PEGMATITE MINERALOGY • 666 kg DDH Metallurgical sample, Petrology, QEMSCAN For personal use only • Spodumene (15-40%) - Lithium clinopyroxene - LiAl(SiO3)2 • Poikilitic (quartz) & Massive (inclusion free) – 2 to >10 cm • Pale green/grey & lesser pink (Grants vs BP33) • Quartz (20-40%) - translucent
Slide 13: Pegmatite Mineralogy & Fluorescence
PEGMATITE MINERALOGY & FLUORESCENCE Massive spodumene – BP33 For personal use only Alb Natural light Qz Sp Mcl 5 cm Pink spodumene – BP33 UV light Sp 5 cm 13 | AusIMM Lithium – June 2018 | Core Exploration Ltd
Slide 14: Pegmatite Mineralogy
PEGMATITE MINERALOGY • Muscovite (5%) – pale green with minor Li in lattice For personal use only • No Lepidolite recognised • Accessories: amblygonite, apatite, cassiterite, ilmenite & rutile • Rare: columbite, tantalite, tourmaline (elbaite), fluorite, topaz & beryl Quartz-mica-albite margin – Gra
Slide 15: Pegmatite Zonation
PEGMATITE ZONATION Na vs depth FRCD003 50000 • Limited or subtle zonation – consistent Li grade For personal use only 40000 30000 • Other geochemical trends not symmetrical 20000 10000 • Quartz-mica-albite margin 0.5-2 m thick 0 65 75 85 95 105 115 Ta vs depth FRCD003 Li2O Normalised to True thickne
Slide 16: Pegmatite Model
PEGMATITE MODEL • Injection of volatile-rich structurally-controlled For personal use only pegmatite dykes into phyllite host • Distal to Granite • Crystallise at <500 degrees • Confining pressure & homogeneity of host critical in focussing the fertile magmatic fluids • Structural regime related to
Slide 17: Exploration Techniques
50m mag survey - RTP histogram equal EXPLORATION TECHNIQUES • Historic maps – detailed For personal use only • Mapping – <10% float + outcrop, costeans, pits • Geophysics – no established rock property contrast • Trials of gravity, ground mag, passive seismic (Tromino), EM34, remote imagery & Hylogg
Slide 18: Current Exploration
CURRENT EXPLORATION • Aggressive program supported by budget For personal use only • RC/DDH drilling at Grants & BP33 to expand resources • RAB and RC drilling at dozens of historic pits and pegmatite occurrences: • inc BP32, Lee’s, Booth’s, Carlton, Hang Gong, Sandra’s, Kelly’s • Mapping & prospect
Slide 19: Project Advantages
PROJECT ADVANTAGES • 100% holding in Unexplored Lithium district For personal use only • 100’s of historically-known pegmatites • Many un-recorded – low Ta/Sn ≠ low Li • New geochemical and geophysical targets • Drilling hit rate for fertile pegmatites is >50% • High grade >1.5% Li2O • Simple coarse
Slide 20: Recent ASX announcements and competent person statement
25-Jun-18 Finniss Pre-Feasibility Study Points to Low-Cost Lithium Operation Generating Significant Surplus Cashflow 23-May-18 Maiden Estimate at BP33 increases Lithium Resources at Finniss Project For personal use only by 70% 8-May-18 Grants Lithium Resource Upgrade marks major step towards Feasibi