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Core Lithium Ltd.
Summary
| Project: | Finniss | |
|---|---|---|
| Deposit: | Carlton | |
| Location: | Australia | |
| Commodities: | Lithium | |
| Date: | 12/18/2018 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Pre-Feasibility Study | |
| Report details: | 18-12-2018: Core Lithium Ltd. announces a Resource Estimation report for its Carlton deposit at the Finniss project. Initial mineral resource estimate for Carlton deposit. Emerging Northern Territory lithium developer, Core Lithium Ltd (ASX:CXO) (Core or | |
| Resources: | (Resource, Inf.): 0.79Mt @ 1.3% Li2O for 10Kt Li2O contained at Carlton | |
| CP/QP: | [Resources]: Graeme McDonald (Independent) | |
| ABSTRACT: | Emerging Northern Territory lithium developer, Core Lithium Ltd (ASX:CXO) (Core or the Company), is pleased to announce the global Mineral Resource for the Company’s Finniss Lithium Project in the Northern Territory (Finniss Project) has increased to now total 7.1Mt @ 1.4% Li2O with the addition of a new Mineral Resource Estimate (MRE) at the Carlton Deposit (Table 1). The new lithium Mineral Resource at Carlton is located within the same Mining Lease application area as the Grants Lithium Deposit and within a few hundred metres of the proposed mine and processing facility at Grants. The Mining Lease covering both Carlton and Grants is expected to be granted in the next month. Commenting on the results, Core Lithium’s Managing Director, Stephen Biggins, commented: “The global Mineral Resource for the Finniss Project has increased rapidly from 1.8Mt at the start of 2018 to 7.1Mt at year end. Core’s management is of the view that the global Mineral Resource will grow even further in January, given the quality of the drilling results received from the recent exploration drilling at Hang Gong and Lees-Booths Link. “These new Mineral Resources have the potential to add substantial upside to the economics of the Finniss Lithium Project, in addition to the lithium Mineral Resources already defined.” The spodumene pegmatite at Carlton is defined at surface by a shallow, 200m long and 15m-20m wide pit, mined historically for tin and tantalum. The regular shape of the existing pit is consistent with the downhole drilling, but the body is actually much longer and closer to 300m long as defined by Core’s recent drilling (Figures 1 & 2). | |
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