Exploration activities update at Shoobridge Project

Core Lithium Ltd (ASX:CXO) has completed a drilling program at its 100%-owned Shoobridge Project in the Northern Territory, targeting lithium and gold prospects. The program resulted in the identification of shallow gold mineralisation and lithium potential, with significant assay results received for 21 of the 28 RC drill holes completed. The company is now planning an expanded drilling program and a review of historical drill data to target a maiden gold JORC (2012) Mineral Resource Estimate.

Executive commentary on Shoobridge drilling results

Core CEO Paul Brown expressed satisfaction with the multi-commodity potential at Shoobridge, emphasizing the encouraging drill hits with grades up to 12.9 g/t gold in a new area. Brown highlighted the company's continued focus on lithium targets within trucking distance of the Finniss infrastructure, while also acknowledging the potential to find a high-grade gold deposit in the current strong gold price environment. He further mentioned the company's plans to advance several areas in the current field season, with gold and lithium targets being tested closer to Finniss.

Summary of Shoobridge Project update

Core Lithium's Shoobridge Project has shown promising results with the identification of shallow gold mineralisation and lithium potential. The company plans to conduct an expanded drilling program and review historical drill data to target a maiden gold JORC (2012) Mineral Resource Estimate. The project's location, ~160km from the Finniss lithium processing plant, provides strategic proximity for future operations. With the remaining drill results expected to be received later this month, Core Lithium aims to extend the gold and lithium mineralisation along strike and at depth. The company's low-cost reconnaissance activities will continue, focusing on mapping pegmatites, quartz veining, and structures to generate new drilling targets beyond the areas tested in the recent program. Additionally, ongoing drilling at Finniss is expected to yield results in the next quarter, further contributing to Core Lithium's exploration and mining projects.