The Core Lithium Ltd (ASX: CXO) share price is in focus today after the company announced strong high-grade lithium results from its latest drilling at the BP33 project, including an impressive 34.08 metres at 2.09% Li₂O and ongoing drilling to test further mineralisation extensions.
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What did Core Lithium report?
- Extensional drilling at BP33 returned 34.08 metres at 2.09% Li₂O from 578.70 metres, including several higher-grade intervals.
- The hole (NMRD100) also intersected 3.43 metres at 2.44% Li₂O from 616.50 metres.
- NMRD100 targeted potential extensions beyond the existing BP33 Mineral Resource Estimate of 10.5Mt at 1.53% Li₂O.
- Drilling continues at BP33, with four further holes planned for down-dip and along-strike extensions.
- Assay confirms high-grade spodumene mineralisation, supporting scale and quality of BP33 deposit.
What else do investors need to know?
The latest drilling results build on previous findings at BP33, where an earlier hole (NMRD085) intersected 90.17 metres at 1.80% Li₂O outside the current resource estimate. The new results point to strong continuity and further upside potential for future resource upgrades.
Core Lithium is also ramping up exploration at the nearby Blackbeard prospect, with up to 12,150 metres of planned drilling. An additional diamond rig will accelerate the program, and results are expected in the coming months. Success at Blackbeard could provide future feed for the Finniss Lithium Operation.
What did Core Lithium management say?
Managing Director Paul Brown said:
These initial results from BP33 are highly encouraging and reinforce our confidence in the quality and continuity of the orebody. BP33 is a unique deposit, characterised by a large, continuous, uniform, sub-vertical pegmatite with consistent grade, minimal internal zoning and favourable geometry for underground mining. As the long-life, low-cost production base at Finniss, these results further strengthen our confidence in the continuity and scale of the orebody, while continuing to demonstrate the potential for mineralisation beyond the current Mineral Resource footprint. With additional drilling underway, we look forward to further improving our understanding of the deposit and its long-term development potential. Exploration drilling at Blackbeard is also underway, with up to 12,150 metres planned. An additional diamond drilling rig is on the way and will accelerate the program. Results from the Blackbeard campaign are expected over the coming months, with the potential to provide a future ore feed to Finniss.
What's next for Core Lithium?
Investors can look out for further drilling updates from both BP33 and Blackbeard as Core Lithium pursues resource growth and project development at the Finniss operation. The company is focused on identifying new mineralisation to support a long mine life and low-cost production base.
With its ongoing exploration program and a strong pipeline of drilling, Core Lithium is working to maintain momentum and unlock new value for shareholders. The additional planned holes at BP33 will target further extensions that could lead to future resource increases.
Core Lithium share price snapshot
Over the past 12 months, Core Lithium shares have risen 154%, outperforming the All Ordinaries Index (ASX: XAO), which has risen 3% over the same period.
