** Shares Australia's Core Lithium CXO.AX gain 6.8% to A$0.079, set for strongest trading session since February 27

** CXO says final assays have been received from reverse circulation and diamond drilling undertaken at its fully-owned Shoobridge project in Australia

** Says drilling results show potential for a large gold system with a major proportion of near-surface oxide mineralisation

** Update on gold project comes at a time when bullion prices have been scaling to record highs

** Stock down 13.5% YTD

(Reporting by Rishav Chatterjee in Bengaluru)

((Rishav.Chatterjee@thomsonreuters.com))