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Core Lithium Ltd.
Summary
| Project: | Finniss | |
|---|---|---|
| Deposit: | Grants | |
| Location: | Australia | |
| Commodities: | Lithium | |
| Date: | 5/8/2018 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Pre-Feasibility Study | |
| Report details: | 8-5-2018: Core Lithium Ltd. announces a Resource Estimation report for its Grants deposit at the Finniss project. Updated mineral resource estimate at Grants deposit. Core Exploration Ltd (ASX: CXO) (“Core” or the “Company”) is pleased to announce a Resou | |
| Resources: | (Resource, I+I): 2.03Mt @ 1.5% Li2O for 30Kt Li2O contained | |
| CP/QP: | [Resources]: Graeme McDonald (Independent) | |
| ABSTRACT: | Core Exploration Ltd (ASX: CXO) (“Core” or the “Company”) is pleased to announce a Resource upgrade for its Grants Lithium Deposit at the Finniss Lithium Project in the Northern Territory which has more than doubled the size of the Indicated Resource and substantially increased the Resource confidence ahead of Feasibility studies to be completed in 2018. The Grants Lithium Resource defined comprises 2.0Mt at 1.5% Li2O (Table 1) and is one of the highest grade spodumene resources in Australia. Over half of the Grants Lithium Resource is now contained in the Indicated category. Core is in the final stages of completing a Pre-Feasibility Study (“PFS”) for the development of a spodumene concentrate and direct shipping ore operation from the Grants Lithium Deposit and expects to deliver the PFS later this quarter. The Finniss Lithium Project has substantial infrastructure advantages; being close to grid power, gas and rail and within easy trucking distance by sealed road to Darwin Port - Australia’s nearest port to Asia. Core is working with the NT EPA to finalise the terms of reference for an Environmental Impact Assessment (EIA), following which, the Company will prepare and submit a Mining Management Plan (MMP) for the development of the Grants project. Based on the prescribed timeframes for assessment by the NT EPA, Core expects the environmental assessment process to take up to 12 months for the Grants project. | |
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