CORE LITHIUM LTD - Core has extended its lithium focus in the NT into the highly prospective Bynoe pegmatite field
- Core's Finniss Lithium Project includes the Mount Finniss Tin Tantalum Mine - the largest historically producing tin and tantalum pegmatite mine in the NT
- Large project tenure covers 200km2 in the lithium rich Bynoe pegmatite field
- Lithium mineralisation has been previously identified in the Bynoe pegmatites but historically mining and exploration has been focused on the associated tin‐tantalum mineralisation
- Further updates will be provided to the market over coming weeks
Core Exploration Ltd's (ASX:CXO) has added the largest historically producing tin pegmatite mine in the Northern Territory to its portfolio of lithium projects in the NT.
Core's new Finniss Lithium Project covers a prospective lithium rich Bynoe pegmatite field south of Darwin in the NT. The Bynoe tin tantalum‐lithium field is one of the most prospective areas for lithium in the NT and has many similarities to Greenbushes in WA, one of the world's largest spodumene deposits.
The historic Mount Finniss Mine is within the area of Core's tenure is listed by NTGS as the largest overall single producer of tin and tantalum in the Northern Territory. The strong endowment of tin and tantalum in pegmatites at the Mount Finniss Mine and in the surrounding area suggest high potential for lithium grades.
As with Greenbushes, before economic lithium was recognised, Bynoe also has a 100 year history of tin and tantalum mining. It is also evident the pegmatites in the Bynoe region are zoned with the economic minerals of tin and tantalum and potentially lithium associated with more kaolin‐rich, albite zones accompanied by beryl often at pegmatite core margins.
Mining in the Bynoe Field commenced in 1880's from alluvial deposits of cassiterite (tin) derived from weathered pegmatites. The industrial demand for tantalum during the mid‐ 1900's saw the mining of a number of tin‐tantalum pegmatites in the region.
Core has lodged 3 Exploration Licences applications covering 200km2 in the Bynoe pegmatite field in the Northern Territory (Figures 1 & 2). The historic Mount Finniss Mine is located at the boundary of Core's EL31127 and EL31144. EL 31144 covers ALRA freehold land and a small 0.2km2 area near the mine on EL 31127 a separate party has overlapping EMP rights to extractive minerals only (e.g. sand/gravel).
Exploration for lithium in the Bynoe Field is still in its infancy with much of the earlier work not recognising the presence of lithium, although spodumene and amblygonite have been reported on LTRs' adjacent tenure at Picketts Prospect (Figure 2). Little modern systematic exploration for lithium has been conducted on Core's new Bynoe tenure applications, but recent results and research indicates strong prospectivity for lithium grades.
The extensive Bynoe pegmatite swarms, which are structurally controlled, sub‐crop across the region and Core' tenure, likely extend under cover. Associated with the highly fractionated and zoned lithium‐endowed "Two Sisters Granite", the coarse grained pegmatites comprise quartz, potassium feldspar, albite and muscovite with common accessory garnet, tourmaline and apatite (Figure 2).
Core is focused on discovering and developing high grade lithium deposits and is currently reviewing and prioritising the prospectivity of a number of lithium rich pegmatite provinces in the NT.
The Company expects to update the market regarding forward steps on the lithium potential and Core's tenure holdings in the NT over coming weeks.
Core Exploration Ltd is an ASX‐listed diversified metal exploration company with a number of advanced exploration projects in the Northern Territory and South Australia. Core's Executives and Directors have been successful in identifying, acquiring and making significant exploration discoveries that have evolved into mining operations.
Figure 1. Core's Finniss Lithium Project tenements in the Bynoe pegmatite field, NT.
Picketts (LTR)
Figure 2. Mt Finniss Mine, Finniss Lithium Project tenure and other tin (Sn) and tantalum (Ta) workings and pegmatite geology in the Bynoe region, NT.
Core Exploration Limited issued this content on 08 February 2016 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 08 February 2016 01:07:32 UTC
Original Document: http://coreexploration.com.au/user_files/reports/20160208_CXO_New_Lithium_Project_includes_largest_tin_tantalum_mine_in_NT.pdf
