Core Lithium Ltd. provide a business update regarding assay results for the resource expansion drilling at the BP33 deposit, part of the Finniss Lithium Project (Finniss Project) near Darwin in the Northern Territory. The assays have confirmed that deep diamond holes NMRD035, NMRD038 and
NMRD039 all intersected variable thicknesses of spodumene mineralised pegmatite at depths below any previous drilling, and up to 830m below surface. Significant intersections are shown below, and full drill hole data included. The best result of 72.74m at 1.56% Li2O was intersected in hole NMRD038 and is interpreted to represent the down plunge extension of the main BP33 pegmatite body. The intersections in NMRD035 and NMRD039 are interpreted to be associated with the southern BP33 pegmatite body. These results, when combined with others reported for this drilling program, reinforce the geological down plunge continuity of the pegmatite bodies hosting the mineralisation, with the grade of the main pegmatite body remaining consistently high. However, the grade of the southern body remains variable with the lower grade intersection in NMRD035 highlighting this variability. Collectively, these intersections combine to define and double the depth extent of the mineralised pegmatite at BP33. The true thicknesses of the intersections are approximately two thirds of those shown (i.e. downhole intersection of 72m equals true thickness of approximately
45m). The continuity in grade and thickness displayed, together with the position of the intersections outside of the current Mineral Resource envelope, is expected to result in an increase in the Mineral Resource estimate for BP33. The recent placement to new and existing high-quality domestic and global institutional investors enables Core to advance significant available growth opportunities at the Finniss Lithium Project including accelerated Resource definition, extensional and exploration drilling and bring forward the development of the proposed BP33 underground mine by investment in early works.