Thick High-Grade Lithium Intersections at Blackbeard
Released
Released
Announcement PDF
Level 4, 186 St Georges Terrace T 61 8 8317 1700 ABN 80 146 287 809
Perth WA 6000 E info@corelithium.com.au ASX CXO
corelithium.com.au
19 October 2026
ASX: CXO Announcement
Thick High-Grade Lithium Intersections at
Blackbeard
Highlights
• Diamond drilling at the Blackbeard prospect has returned thick, high-grade lithium
intersections, including;
o 92m @ 1.25% Li2O from 92m in NMRD104 (~45m true width) including;
▪ 73m @ 1.45% Li2O from 110m (~35m true width)
o 29m @ 1.35% Li2O from 209m in NMRD108 (~17m true width)
▪ Partial results received, remaining assays pending
• NMRD104 is the longest downhole mineralised intersection recorded at Blackbeard to
date, located approximately 80m up-dip of the previously reported 63m @ 1.67% Li2O in
NRC2691, confirming continuity of high-grade mineralisation.
• NMRD108 intersected high-grade mineralisation approximately 50m along strike from
SRC117 (41m @ 1.63% Li2O from 137m)2, with partial results returning 29m @ 1.35% Li2O
from 209m, with assays for the remainder of the hole pending.
Core Lithium Ltd (ASX:CXO) (Core or Company) is pleased to provide results from the diamond drilling program
at the Blackbeard prospect, part of the Company’s 100% owned Finniss Lithium Operation (Finniss). Assay
results have now been received for five completed diamond holes, NMRD101 to NMRD105, and the first batch of
samples from NMRD108.
The standout result is from NMRD104, which intersected 92m @ 1.25% Li2O from 92m, including 73m @ 1.45%
Li2O from 110m. This represents the longest downhole mineralised intersection recorded at Blackbeard to date
and is located approximately 80m up-dip of the previously reported 63m @ 1.67% Li2O intersection in NRC2691,
providing further evidence of the continuity of high-grade mineralisation.
Partial results from NMRD108 returned 29m @ 1.35% Li2O from 209m, with assays for the remainder of the hole
pending.
Drilling is ongoing at the Blackbeard prospect, with results to be released progressively as they become available
and used to further refine Core’s understanding of the geology and mineralisation at Blackbeard.
1 Refer to ASX announcement “New High-grade Lithium Drill Results within 20km of Grants” on 6 November 2024
2 Refer to ASX announcement “Significant Increase to Finniss Mineral Resources” on 18 April 2023
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Commenting on the Blackbeard drilling results, Core Managing Director Paul Brown said:
“NMRD104 is an outstanding result, delivering the longest mineralised intersection recorded at Blackbeard to date
and providing further evidence of the continuity of the high-grade mineralisation identified in our earlier RC drilling.
Together with the initial results from NMRD108, these results continue to demonstrate the potential scale of this
pegmatite system, located less than 20km from our Finniss processing plant.
“Importantly, these results represent just the first six holes of the current drilling program, and we are still at an
early stage of understanding the full potential of Blackbeard. Drilling is continuing, and we look forward to updating
the market as further assay results become available.
“Blackbeard represents an exciting growth opportunity for Core, with the potential to become a significant future
source of high-grade ore feed for our Finniss operation. With Carlton already converted to Ore Reserve and
development progressing at BP33, these results reinforce our strategy to grow our resource base, extend mine
life and create further expansion opportunities across Finniss.”
Figure 1: Overview of Finniss project showing Blackbeard location relative to Core’s existing processing plant.
FINNISS LITHIUM OPERATION
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Blackbeard
Blackbeard has the potential to provide additional high-grade resources to support mining studies and production
options. Its proximity to the Finniss processing plant, established logistics chain, and existing infrastructure
provide a strong platform for assessing future development options. Together with the existing >2Mtpa crushing
capacity, successful resource definition at Blackbeard may support Core’s ongoing assessment of plant
throughput expansion opportunities above the current 1.2Mtpa base case3, providing a potential pathway to
increase production scale over time while leveraging capital already invested at Finniss.
Technical Summary
The Blackbeard exploration program is a staged and gated diamond drilling campaign, totalling 12,150m and
forms part of Core’s broader strategy of resource growth and mine life extension at Finniss. Results included in
this announcement are summarised in Table 1 and discussed below.
NMRD104 was drilled to test the continuity of the high-grade zone approximately 80m up-dip of NRC269 (63m @
1.67% Li2O from 166m). The hole intersected 92m @ 1.25% Li2O from 92m, including 73m @ 1.45% Li2O from
110m (Figure 3), confirming continuity of mineralisation between the two holes. Mineralisation is contained within
a 100m pegmatite intersection from 91m to 192m. NMRD104 was drilled at -60° into the steeply dipping pegmatite
and the reported intersection is a downhole length; the estimated true thickness is approximately 45m, consistent
with the up to 45m true thickness previously interpreted at Blackbeard.
NMRD108 was designed to test along strike continuity to the south-west of NMRD104 and previously reported
hole SRC117, which intersected 41m @ 1.63% Li2O from 137m and SRC118 which intersected 59m @ 1.54%
Li2O from 158m4. Assays received to date for the first batch of samples returned 29m @ 1.35% Li2O from 209m
(Figure 4). Assays remain pending for the remaining ~67m of the overall 96m pegmatite intersection downhole.
NMRD101 and NMRD102 were deep holes (760.7m and 624.1m respectively) designed to test the depth extent
of the pegmatite in the central area of the Blackbeard prospect. NMRD101 was co-funded by the Northern Territory
Government. Both holes intersected interbedded phyllite and sandstone with zones of faulting observed in drill
core. NMRD101 intersected four thin (<10m) pegmatites between 654m and 727m which are currently interpreted
to represent faulted portions of the Blackbeard Pegmatite. Both holes returned only narrow, low-grade
intersections (Table 1). Geological interpretation of these holes is ongoing with a more detailed structural
interpretation to follow at the completion of drilling.
NMRD103 was drilled to the south-east to test the down-dip extent of mineralisation below SRC117 and SRC118.
The hole intersected two pegmatites, from 231m to 245m and from 302m to 352m, and returned 19m @ 0.59%
Li2O from 330m in the lower part of the deeper pegmatite (Table 1).
NMRD105 was drilled to the northeast of NMRD104 and previously reported hole SRC119 (71m @ 1.05% Li2O
from 101m)5. Drilling intersected two pegmatites and returned 4m @ 1.11% Li2O from 142m in the upper pegmatite
and 12.9m @ 0.72% Li2O from 203m within the 26m lower pegmatite, including 5m @ 1.02% Li2O from 204m
(Table 1).
3 Refer to ASX announcement “FID Approved and Funding Secured for Finniss Restart” on 18 March 2026
4 and 5 Refer to ASX announcement “Significant Increase to Finniss Mineral Resources” on 18 April 2023
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Figure 2: Blackbeard drill hole plan showing NMRD101-105 and NMRD 108, previous RC drilling and section lines.
Figure 3: Geological cross section of NMRD 104 at Blackbeard.
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Figure 4: Geological cross section of NMRD 108 at Blackbeard.
This announcement has been approved for release by the Core Lithium Board.
For further information, please contact:
Investor enquiries
Paul Brown
Managing Director
Core Lithium Ltd
+61 8 8317 1700
info@corelithium.com.au
Media enquiries
Cameron Morse
Senior Managing Director
FTI Consulting
+61 433 886 871
cameron.morse@fticonsulting.com
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About Core
Core Lithium Ltd (ASX: CXO) (Core or Company) is an Australian hard-rock lithium company that owns the
Finniss Lithium Operation on the Cox Peninsula, south-west and 88km by sealed road from the Darwin Port,
Northern Territory. Core's vision is to generate sustained value for shareholders from critical minerals exploration
and mining projects underpinned by strong environmental, safety and social standards.
For further information about Core and its projects, visit www.corelithium.com.au.
Competent Person's Statement
The information in this report that relates to Exploration Results is based on information compiled by Mr Paul
Smith (BSc (Geoscience)), who is a full-time employee of Core Lithium Ltd and a member of the Australian
Institute of Geoscientists and is bound by and follows the Institute's codes and recommended practices. He has
sufficient experience which is relevant to the styles of mineralisation and types of deposits under consideration
and to the activities being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the
“Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves”. Mr Smith
consents to the inclusion in the report of the matters based on this information in the form and context in which it
appears.
The information in this announcement that relates to previously reported Exploration Results is extracted from the
ASX announcements titled “Significant Increase to Finniss Mineral Resources” dated 18 April 2023, “New High-
grade Lithium Drill Results within 20km of Grants” dated 6 November 2024 “Updated Finniss Lithium Project
Reserve and Resource” dated 14 May 2025 and “FID Approved and Funding Secured for Finniss Restart” dated
18 March 2026. The Company confirms that it is not aware of any new information or data that materially affects
the information included in the original announcements and that all technical parameters and material
assumptions underpinning the production target and forecast financial information derived from the production
target continue to apply and have not materially changed. The Company confirms that the form and context in
which the Competent Person’s findings are presented, have not been materially modified from the original
announcements.
Table 1: Summary of drill hole data and received assay results from diamond drilling at Blackbeard
Hole ID Prospect
Drill
Type
Easting
(m)
Northing
(m)
RL
(m)
Dip
(°)
Azimuth
(°)
Total
Depth
(m)
From (m) To (m)
Interval
(m)
Grade
(Li2O %)
NMRD101 Blackbeard MR/DD 686945 8585375 20 -65 145 760.7 No Significant Intercept
NMRD102 Blackbeard MR/DD 687250 8584900 29 -64 318 624.1 No Significant Intercept
NMRD103 Blackbeard MR/DD 687050 8585220 26 -68 144 420.2 330 349 19 0.59
Incl 333 334 1 2.40
NMRD104 Blackbeard MR/DD 687210 8585070 26 -60 324 231.1 92 184 92 1.25
Incl 110 183 73 1.45
NMRD105 Blackbeard MR/DD 687270 8585050 27 -63 325 306.1 142 146 4 1.11
and 203 216 13 0.72
Incl 204 209 5 1.02
NMRD108 Blackbeard MR/DD 687165 8584960 26 -60 324 348.0 209 238 29 1.35
Remaining NMRD108 assays pending
Notes: Intervals are downhole lengths. Intersections reported using a 0.3% Li2O lower cut-off with up to 3m of
internal dilution. Grid MGA94 Zone 52; collars located by handheld GPS. MR/DD = mud rotary pre-collar with
diamond tail.
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Appendix 1 JORC Code, 2012 Edition-Table 1 Report
Section 1 Sampling Techniques and Data
(Criteria in this section apply to all succeeding sections)
Criteria JORC Code Explanation Commentary
Sampling
techniques
• Nature and quality of sampling (e.g.
cut channels, random chips, or
specific specialised industry
standard measurement tools
appropriate to the minerals under
investigation, such as downhole
gamma sondes, or handheld XRF
instruments, etc.). These examples
should not be taken as limiting the
broad meaning of sampling.
• Include reference to measures taken
to ensure sample representivity and
the appropriate calibration of any
measurement tools or systems used.
• Aspects of the determination of
mineralisation that are Material to the
Public Report.
• In cases where ‘industry standard’
work has been done, this would be
relatively simple (e.g. ‘reverse
circulation drilling was used to obtain
1 m samples from which 3 kg was
pulverised to produce a 30 g charge
for fire assay’). In other cases, more
explanation may be required, such
as where there is coarse gold that
has inherent sampling problems.
Unusual commodities or
mineralisation types (e.g. submarine
nodules) may warrant disclosure of
detailed information.
• Diamond core (DDH) drill techniques have
been employed for the Core Lithium Ltd
("Core" or "CXO") drilling. A list of the hole IDs
and positions for drilling discussed in the
release has been included.
• Drill core was collected directly into trays,
marked up by metre marks and secured as
the drilling progressed.
• DDH Core was transported to a local core
preparation facility where geological logging
and sample interval selection took place. If
sampled, core was cut into half longitudinally
along a consistent line between 0.3m and 1m
in length, ensuring no bias in the cutting
plane.
• DDH sampling of pegmatite for assaying is
done over the sub-1m intervals described
above. 1m-sampling continued into the
barren phyllite host rock.
Drilling
techniques
• Drill type (e.g. core, reverse
circulation, open-hole hammer,
rotary air blast, auger, Bangka, sonic,
etc.) and details (e.g. core diameter,
triple or standard tube, depth of
diamond tails, face-sampling bit or
other type, whether core is oriented
and if so, by what method, etc.).
• PQ and HQ Diamond drilling was utilised.
Core was oriented using a HQ core
orientation tool.
• Drilling was completed by Titeline Drilling and
Westcore Drilling. Holes utilised mud rotary
pre-collars to approximately 38–63m, with PQ
core typically to approximately 50–60m and
HQ core to end of hole.
Drill sample
recovery
• Method of recording and assessing
core and chip sample recoveries and
results assessed.
• Measures taken to maximise sample
recovery and ensure the
representative nature of the
samples.
• Whether a relationship exists
between sample recovery and grade
• Core recoveries were measured using
conventional procedures, utilising the driller's
markers and estimates of core loss.
• Core was reconstructed into continuous runs,
with recovered core marked up and measured
by the geologist or geo-technician, checking
against recorded depths on the core blocks.
• DDH core recovery is typically 100% in the
pegmatite zones and in fresh host-rock.
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Criteria JORC Code Explanation Commentary
and whether sample bias may have
occurred due to preferential loss/gain
of fine/coarse material.
Logging • Whether core and chip samples have
been geologically and geotechnically
logged to a level of detail to support
appropriate Mineral Resource
estimation, mining studies and
metallurgical studies.
• Whether logging is qualitative or
quantitative in nature. Core (or
costean, channel, etc.) photography.
• The total length and percentage of
the relevant intersections logged.
• Detailed geological logging was carried out
on all diamond drill holes.
• Logging recorded lithology, mineralogy,
mineralisation, weathering, colour, and other
sample features.
• DD core is stored in plastic core trays.
• All holes were logged in full.
• Pegmatite sections are also checked under a
single-beam UV light for spodumene
identification on an ad hoc basis. These only
provide indicative qualitative information.
• DDH core trays are photographed and stored
on the CXO server.
Sub-sampling
techniques
and sample
preparation
• If core, whether cut or sawn and
whether quarter, half or all core
taken.
• If non-core, whether riffled, tube
sampled, rotary split, etc. and
whether sampled wet or dry.
• For all sample types, the nature,
quality and appropriateness of the
sample preparation technique.
• Quality control procedures adopted
for all sub-sampling stages to
maximise representativity of
samples.
• Measures taken to ensure that the
sampling is representative of the In
Situ material collected, including for
instance results for field
duplicate/second-half sampling.
• Whether sample sizes are
appropriate to the grain size of the
material being sampled.
• Half Drill Core sample intervals were
constrained by geology, alteration or structural
boundaries, intervals varied between a
minimum of 0.3 metres to a maximum of 1 m.
The core is cut along a regular Ori line to
ensure no sampling bias.
• Due to the coarse-grained nature of the
spodumene mineralisation, no duplicates of
DD core were collected.
Quality of
assay data
and
laboratory
tests
• The nature, quality and
appropriateness of the assaying and
laboratory procedures used and
whether the technique is considered
partial or total.
• For geophysical tools,
spectrometers, handheld XRF
instruments, etc., the parameters
used in determining the analysis
include instrument make and model,
reading times, calibrations factors
applied and their derivation, etc.
• Nature of quality control procedures
adopted (e.g. standards, blanks,
duplicates, external laboratory
checks) and whether acceptable
levels of accuracy (i.e. lack of bias)
and precision have been
• Sample preparation (crushing and pulverising)
occurs at Intertek's Darwin, NT laboratory. All
samples are crushed and pulverised.
• For lithium samples, a sub-sample of the pulp
is digested via a sodium peroxide fusion in a
Ni crucible and analysed at Intertek's Perth
laboratory via ICP-MS and ICP-OES methods
for the following elements: Li, Al, B, Ba, Be,
Ca, Cs, Fe, K, Mg, Mn, Nb, P, Rb, S, Sn, Sr,
Ta, W and As.
• Intertek utilise standard internal quality control
measures including the use of Certified
Lithium Standards and duplicates/repeats.
• CXO implemented quality control procedures
include appropriate certified Lithium ore
standards and blanks.
• There were no significant issues identified with
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Criteria JORC Code Explanation Commentary
established. any of the QAQC data.
Verification of
sampling and
assaying
• The verification of significant
intersections by either independent
or alternative company personnel.
• The use of twinned holes.
• Documentation of primary data, data
entry procedures, data verification,
data storage (physical and
electronic) protocols.
• Discuss any adjustment to assay
data.
• Senior technical personnel have visually
inspected and verified the significant drill
intersections.
• All field data was initially entered into excel
spreadsheets (supported by lookup tables) at
site and imported into the centralised CXO
Access database.
• Hard copies of survey and sampling data are
stored in the local office and electronic data is
stored on the CXO server.
• Metallic Lithium percent was multiplied by a
conversion factor of 2.1527/10000 to report Li
ppm as Li2O%.
Location of
data points
• The accuracy and quality of surveys
used to locate drill holes (collar and
down-hole surveys), trenches, mine
workings and other locations used in
Mineral Resource estimation.
• Specification of the grid system
used.
• Quality and adequacy of topographic
control.
• Hand held GPS has been used to determine
the collar location. Core is in the process of
picking up all collars via DGPS. Collar position
audits are undertaken, and no issues have
arisen.
• The grid system is MGA_GDA94, zone 52 for
easting, northing and RL.
• All DD hole traces were surveyed by north
seeking gyro tool operated by the drillers.
• The local topographic surface is used to
generate the RL of collars when coordinates
are obtained via handheld GPS.
Data spacing
and
distribution
• Data spacing for reporting
Exploration Results.
• Whether the data spacing and
distribution is sufficient to establish
the degree of geological and grade
continuity appropriate for the Mineral
Resource and Ore Reserve
estimation procedure(s) and
classifications applied.
• Whether sample compositing has
been applied.
• Drill spacing at Blackbeard is variable, with
holes typically 50-100m apart on section.
Geological continuity between holes is
supported by the 2026 diamond drilling.
• No Mineral Resource has been estimated for
Blackbeard. Data spacing is not yet sufficient to
establish geological and grade continuity for
Mineral Resource estimation.
• No sample compositing has been applied other
than length-weighted reporting of intersections.
Orientation of
data in
relation to
geological
structure
• Whether the orientation of sampling
achieves unbiased sampling of
possible structures and the extent to
which this is known, considering the
deposit type.
• If the relationship between the drilling
orientation and the orientation of key
mineralised structures is considered
to have introduced a sampling bias,
this should be assessed and
reported if material.
• Drilling is oriented approximately perpendicular
to the interpreted strike of mineralisation
(pegmatite body) as mapped. Because of the
dip of the hole, drill intersections are apparent
thicknesses, and overall geological context is
needed to estimate true thicknesses.
• Estimates of true thickness are generally
between 50-90% of the drilled thickness and
depends on the prospect drilled.
• No sampling bias is believed to have been
introduced.
Sample
security
• The measures are taken to ensure
sample security.
• Sample security was managed by the CXO.
After preparation in the field or CXO’s
warehouse, samples were packed into
polyweave bags and transported by the
Company directly to the assay laboratory. The
assay laboratory audits the samples on arrival
and reports any discrepancies back to the
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Criteria JORC Code Explanation Commentary
Company.
Audits or
reviews
• The results of any audits or reviews
of sampling techniques and data.
• Ongoing QAQC and validation of the data has
been excellent, and no specific audits or
reviews are considered necessary.
Section 2 Reporting of Exploration Results
Criteria JORC Code Explanation Commentary
Mineral
Tenement and
Land Tenure
Status
• Type, reference name/number,
location and ownership including
agreements or material issues with
third parties such as joint ventures,
partnerships, overriding royalties,
native title interests, historical sites,
wilderness or national park and
environmental settings.
• The security of the tenure held at
the time of reporting along with any
known impediments to obtaining a
license to operate in the area.
• Blackbeard is located on MLN1148, 100%
owned by CXO.
• The project area is located on Freehold Land
and to a lesser extent Crown Leases
(perpetual and term).
• The tenements are in good standing with the
NT DPIR Titles Division.
Exploration
Done by Other
Parties
• Acknowledgment and appraisal of
exploration by other parties.
• The history of mining in the Bynoe area dates
to 1886 when tin was discovered by Mr. C
Clark.
• By 1890 the Leviathan Mine and the Annie
Mine were discovered and worked
discontinuously until 1902.
• In 1903 the Hang Gong Wheel of Fortune was
identified.
• By 1909, activity was limited to Leviathan and
Bells Mona mines in the area with little activity
from 1907 to 1909.
• In the early 1980s, the Bynoe Pegmatite field
was reactivated during high tantalum prices
by Greenbushes Tin, which owned and
operated the Greenbushes Tin and Tantalite
(and later spodumene) Mine in WA.
Greenbushes Tin Ltd entered a JV with
Barbara Mining Corporation.
• Greenex (the exploration arm of
Greenbushes Tin Ltd) explored the Bynoe
Pegmatite field between 1980 and 1990 and
produced tin and tantalite from its Observation
Hill Treatment Plant between 1986 and 1988.
• They then tributed the project to a company
named Fieldcorp Pty Ltd who operated it
between 1991 and 1995.
• In 1996, Julia Corp drilled RC holes into
representative pegmatites in the field, but like
all their predecessors, did not assay for Li.
• Since 1996, the field remained dormant until
recently when exploration began on
ascertaining the lithium prospectivity of the
Bynoe pegmatites.
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Criteria JORC Code Explanation Commentary
• The NT geological Survey undertook a
regional appraisal of the field, published in
2004 (NTGS Report 16, Frater 2004).
• LTR drilled the first RC holes testing for lithium
potential at BP33, Hang Gong and Booths in
2016.
• CXO subsequently drilled BP33, Grants, Far
West, Central, Ah Hoy and several other
prospects in 2016.
• After purchasing the LTR tenements in 2017,
CXO drilled Lees, Booths, Carlton and Hang
Gong.
• Early in 2021, Core purchased a group of
small ML's from Outback Metals Pty Ltd within
the Finniss Project area. Since that time some
exploration activities have been undertaken
on them.
• Late in 2021, Core commenced development
of Grants Mineral Resource with first ore
mined and crushed late in 2022.
• In 2026, CXO commenced underground
development of the BP33 Mineral Resource.
• Drilling at Blackbeard has taken place
between 2022 (SRC Series Holes) and 2024
(FRC Series Holes).
• Drilling at the adjacent Centurion Prospect
was undertaken in 2022 and 2024.
Geology • Deposit type, geological setting and
style of mineralisation.
• The project area covers a swarm of complex
zoned rare element pegmatites, which
comprise the 70km long by 15km wide Bynoe
Pegmatite Field (NTGS Report 16).
• The Finniss pegmatites have intruded early
Proterozoic shales, siltstones and schists of
the Burrell Creek Formation which lies on the
northwest margin of the Pine Creek
Geosyncline. To the south and west are the
granitoid plutons and pegmatitic granite
stocks of the Litchfield Complex. The source
of the fluids that have formed the intruding
pegmatites is generally accepted as being the
Two Sisters Granite to the west of the belt,
and which probably underlies the entire area
at depths of 5-10 km.
• Fresh pegmatite at most deposits is
dominated by coarse-grained spodumene,
quartz, albite, microcline and muscovite.
Spodumene, a lithium bearing pyroxene
(LiAl(SiO3)2), is the predominant lithium
bearing phase and displays a diagnostic red-
pink UV fluorescence.
• Mineralisation is typically hosted within large,
massive, sub vertical pegmatite bodies (e.g.
Grants, BP33, Blackbeard). It can also be
present within shallow to moderately dipping
stacked pegmatite bodies or sheets (e.g.
Hang Gong).
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Criteria JORC Code Explanation Commentary
Drill Hole
Information
• A summary of all information
material to the understanding of the
exploration results including a
tabulation of the following
information for all Material drill
holes:
• Easting and northing of the drill
hole collar
• elevation or RL (Reduced Level
– elevation above sea level in
meters) of the drill hole collar
• dip and azimuth of the hole
• down hole length and
interception depth
• hole length.
• If the exclusion of this information is
justified on the basis that the
information is not Material and this
exclusion does not detract from the
understanding of the report, the
Competent Person should clearly
explain why this is the case.
• A summary of material information for all drill
holes discussed in this release is contained
within the body of the report. This includes all
collar locations, hole depths, dip and azimuth
as well as current assay or intercept
information.
• Drill holes with assays returned and pending
are discussed and presented within the body
of the report.
• Drilling at Blackbeard is ongoing. Results will
be disclosed when assays have been
received.
Data
Aggregation
Methods
• In reporting Exploration Results,
weighting averaging techniques,
maximum and/or minimum grade
truncations (e.g. cutting of high
grades) and cut-off grades are
usually Material and should be
stated.
• Where aggregate intercepts
incorporate short lengths of high-
grade results and longer lengths of
low-grade results, the procedure
used for such aggregation should
be stated and some typical
examples of such aggregations
should be shown in detail.
• The assumptions used for any
reporting of metal equivalent values
should be clearly stated.
• Any sample compositing reported here is
calculated via length weighted averages of
the assayed intervals. Length weighted
averages are acceptable method because the
density of the rock (pegmatite) is constant.
• 0.3% Li2O was used as lower cut off grades
for compositing and reporting intersections
with allowance for including up to 3m of
consecutive drill material of below cut-off
grade (internal dilution).
• No metal equivalent values have been used
or reported.
Relationship
Between
Mineralisation
Widths and
Intercept
Lengths
• These relationships are particularly
important in the reporting of
Exploration Results.
• If the geometry of mineralisation
with respect to the drill hole angle is
known, its nature should be
reported.
• If it is not known and only the down
hole lengths are reported, there
should be a clear statement of this
effect (e.g. down hole length, true
width not known’).
• Historically, all holes have been drilled at
angles between 55 - 85° and approximately
perpendicular to the strike of the pegmatite.
• Some holes deviated in azimuth and therefore
are marginally oblique in a strike sense.
• Based on an assessment of drill sections, true
width typically represents about 50-90% of the
intercept width.
Diagrams • Appropriate maps and sections
(with scales) and tabulations of
intercepts should be included for
any significant discovery being
• Refer to any Figures and Tables in the
release.
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Criteria JORC Code Explanation Commentary
reported. These should include but
not be limited to a plan view of drill
hole collar locations and
appropriate sectional views.
Balanced
Reporting
• Where comprehensive reporting of
all Exploration Results is not
practicable, representative
reporting of both low and high
grades and/or widths should be
practiced avoiding misleading
reporting of Exploration Results.
• Assay results for all Blackbeard diamond
holes received to date have been reported,
including holes NMRD101 to NMRD103 and
NMRD105, which returned lower-grade or no
significant r
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