Core Lithium's 2023 Exploration Programs Update

Core Lithium Ltd (ASX: $CXO) has announced the final assays from its 2023 drilling program, revealing exceptional new drilling results at the Ah Hoy and Seadog prospects. The company is pleased to provide an update on the exploration programs completed during the 2023 field season, demonstrating the prospectivity of the entire Finniss project area. Wide zones of spodumene mineralization were intersected, suggesting the potential for these prospects to form part of a larger cluster of mineralized pegmatites. Updated mineral resource models are expected to be announced next month, with the 2024 field season focusing on testing large-scale pegmatite targets for potential lower cost production.

Executive Commentary on Exploration Results

The interim CEO, Doug Warden, expressed excitement about the exceptional results from Ah Hoy and Seadog, which have increased confidence in the existence of a cluster of mineralized pegmatites. He highlighted the potential for these prospects to drive future low-cost production at Finniss and emphasized the exploration potential within the main project at Finniss and other projects in the Northern Territory. Warden also mentioned the company's plans to unlock the value in future exploration programs and the upcoming resource update.

Summary of Exploration Programs and Future Outlook

Core Lithium's exploration programs in 2023 have yielded exceptional drilling results, indicating the potential for a larger cluster of mineralized pegmatites at the Ah Hoy and Seadog prospects. The company is set to announce updated mineral resource models next month and aims to focus on testing large-scale pegmatite targets for potential lower cost production in the 2024 field season. Additionally, Core Lithium plans to unlock the value in its regional lithium, uranium, and gold targets in the Northern Territory and South Australia. The company's ambitions include sustained value generation for shareholders from critical minerals exploration and mining projects, underpinned by strong environmental, safety, and social standards.