CXO to drill Pilangoora lookalike in the next quarter


Published 23-JUN-2016 15:03 P.M.


2 minute read

Hey! Looks like you have stumbled on the section of our website where we have archived articles from our old business model.

In 2019 the original founding team returned to run Next Investors, we changed our business model to only write about stocks we carefully research and are invested in for the long term.

The below articles were written under our previous business model. We have kept these articles online here for your reference.

Our new mission is to build a high performing ASX micro cap investment portfolio and share our research, analysis and investment strategy with our readers.

Click Here to View Latest Articles

Core Exploration (ASX:CXO) thinks it has its foot on a lithium pegmatite target which is “unusually large” by world standards and is similar in scope to Pilangoora in WA.

It told its shareholders today that it had found large pegmatite swarms within its Finnis Lithium Project in the NT, and it plans to drill there as soon as the next quarter.

It said mapping had identified the Zola Pegmatite, which is a north-south trending system of pegmatites covering an area which CXO said is “conservatively estimated at between 1-2 square kilometres”.

The Finnis lithium project

The Finnis lithium project

It said an outcrop of decomposed pegmatite and quartz blows for up to 1500m north-south and could be as long as 2km under cover.

East-west it said the pegmatite for at least 450m at surface – suggesting a substantial swarm of highly fractionated pegmatites.

The area has traditionally been associated with tin and tantalum, and CXO believes little work has been done to uncover the lithium potential of the area.

It did however say the potential scale of the pegmatites drew an immediate comparison with the Pilangoora area in WA – which has been pegged as a lithium hotspot.

CXO has started mapping at the area and is currently sampling – but has already lodged a drill application with the regulator, allowing it to possibly drill in the next quarter.

More on Core Exploration (ASX:CXO)

Core Exploration (ASX:CXO) controls large areas of mineral exploration ground in Central Australia.

The company is developing high grade lead, silver, zinc, copper and gold projects in the Northern Territory, while in South Australia, CXO is targeting economic IOCG and uranium deposits in South Australia.

In more recent times however it has turned its attention to lithium in the Northern Territory as it joins a swathe of juniors seeking their piece of the explosion of interest in the commodity in recent times.

Lithium is being read as one of the fundamental building blocks of the lithium-ion battery revolution, which is underpinning the development of electric vehicles and next-gen battery storage.



General Information Only

S3 Consortium Pty Ltd (S3, ‘we’, ‘us’, ‘our’) (CAR No. 433913) is a corporate authorised representative of LeMessurier Securities Pty Ltd (AFSL No. 296877). The information contained in this article is general information and is for informational purposes only. Any advice is general advice only. Any advice contained in this article does not constitute personal advice and S3 has not taken into consideration your personal objectives, financial situation or needs. Please seek your own independent professional advice before making any financial investment decision. Those persons acting upon information contained in this article do so entirely at their own risk.

Conflicts of Interest Notice

S3 and its associated entities may hold investments in companies featured in its articles, including through being paid in the securities of the companies we provide commentary on. We disclose the securities held in relation to a particular company that we provide commentary on. Refer to our Disclosure Policy for information on our self-imposed trading blackouts, hold conditions and de-risking (sell conditions) which seek to mitigate against any potential conflicts of interest.

Publication Notice and Disclaimer

The information contained in this article is current as at the publication date. At the time of publishing, the information contained in this article is based on sources which are available in the public domain that we consider to be reliable, and our own analysis of those sources. The views of the author may not reflect the views of the AFSL holder. Any decision by you to purchase securities in the companies featured in this article should be done so after you have sought your own independent professional advice regarding this information and made your own inquiries as to the validity of any information in this article.

Any forward-looking statements contained in this article are not guarantees or predictions of future performance, and involve known and unknown risks, uncertainties and other factors, many of which are beyond our control, and which may cause actual results or performance of companies featured to differ materially from those expressed in the statements contained in this article. S3 cannot and does not give any assurance that the results or performance expressed or implied by any forward-looking statements contained in this article will actually occur and readers are cautioned not to put undue reliance on forward-looking statements.

This article may include references to our past investing performance. Past performance is not a reliable indicator of our future investing performance.


Discover Small Cap
Biotech Stocks

Join thousands of other Investors following our stock commentary for Free