Core Lithium Ltd (ASX: CXO) has wrapped up its 2024 drilling program at Mt Shoobridge, and the results suggest something big—a potentially large-scale gold system with shallow, near-surface oxide mineralisation. The final assay results confirm broad gold mineralisation over an 800m strike, with plenty of room for expansion.
What Did the Drilling Uncover?
The drill results were encouraging, with standout intercepts including:
- 46m @ 0.75g/t Au from 3m, including 4m @ 1.52g/t Au from 16m (SBRC0032)
- 34m @ 0.97g/t Au from 49m, including 4m @ 1.91g/t Au from 66m (SBRC0036)
- 14.2m @ 1.36g/t Au from 22.8m, with a high-grade hit of 0.3m @ 32.83g/t Au from 35.4m (SBDD002)
- 10m @ 1.81g/t Au from 97m, including 2m @ 6.65g/t Au (SBRC0042)
These results confirm a broad, consistent gold system at Shoobridge, with gold-bearing quartz veins and alteration zones pointing to a potential bulk open-pit mining opportunity.
Next Steps for Shoobridge
Now that Core has a better understanding of the system’s scale, they’re shifting focus to economic viability. The next phase of work will include:
- Desktop evaluation of bulk mining potential
- Targeting higher-grade zones with additional structural and geological analysis
- Further exploration—only 20% of the 4.5km mineralised trend has been tested
- Assessing other high-priority drill targets, including areas with no previous drilling
Strategic Location & Future Potential
Shoobridge sits in a prime gold-producing region, just 7km from Agnico Eagle’s Cosmo Deeps gold mine and 60km from an idle processing plant at Union Reefs. With gold prices hitting record highs, this project is shaping up to be a valuable strategic asset.
CEO Paul Brown summed it up:
“We now have a greater appreciation for the potential size of the system. With a large, shallow body of oxide mineralisation and areas of higher-grade material, we’re looking at the economic opportunity to support a bulk, open-pit mining operation. This will guide our next phase of exploration.”
While lithium remains Core Lithium’s primary focus, Shoobridge’s gold potential is becoming hard to ignore. The company will now determine the best path forward to unlock the value of this emerging gold system.
