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Core Lithium Ltd.
Summary
| Project: | Finniss | |
|---|---|---|
| Deposit: | Sandra | |
| Location: | Australia | |
| Commodities: | Lithium | |
| Date: | 11/29/2018 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Pre-Feasibility Study | |
| Report details: | 29-11-2018: Core Lithium Ltd. announces a Resource Estimation report for its Sandra deposit at the Finniss project. Initial mineral resource estimate for Sandras deposit. The DFS is aiming to build on the strong financial outcomes highlighted in the Pre-F | |
| Resources: | (Resource, Inf.): 1.30Mt @ 1.0% Li2O for 13Kt Li2O contained | |
| CP/QP: | [Resources]: Graeme McDonald (Independent) | |
| ABSTRACT: | The DFS is aiming to build on the strong financial outcomes highlighted in the Pre-Feasibility Study (PFS) (refer to ASX announcement 25 June 2018). The DFS is factoring in substantially expanded global Mineral Resource and extended mine life, optimising recoveries to deliver increased grade of product, as well as committed offtake and customer prepayment finance agreements. The Finniss Project has arguably the best supporting infrastructure and logistics chain to Asia of any Australian lithium project. The Finniss Project is within 25km of port, power station, gas, rail and 1 hour by sealed road to workforce accommodated in Darwin and importantly to Darwin Port - Australia’s nearest port to Asia. High grade, low processing costs and cheap haulage make Core’s Finniss Project potentially one of the least capital-intensive and most cost-competitive spodumene operations in Australia. Core has established offtake and prepayment agreements and is also in the process of negotiating and finalising further agreements with some of Asia’s largest lithium producers that support and finance the Project’s modest capex requirements and the Company into production in 2019 Commenting on the results, Core Lithium’s Managing Director, Stephen Biggins, commented: “Adding an additional 1.3Mt to our Finniss resource base from Sandras is a great result. The global Mineral Resource for the Finniss Project has increased rapidly from 1.8Mt at the start of 2018 to 6.3Mt today, and Core’s management is of the view that the global Mineral Resource will grow even further over coming 2 months, given the quality of the drilling results received from the recent exploration drilling at a number of new prospects, namely Carlton, Hang Gong and Lees-BoothsLink. “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 at Grants and BP33.” | |
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