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Core Lithium Ltd.
Summary
| Project: | Finniss | |
|---|---|---|
| Deposit: | Sandras, Lees | |
| Location: | Australia | |
| Commodities: | Lithium | |
| Date: | 11/1/2018 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Pre-Feasibility Study | |
| Report details: | 1-11-2018: Core Lithium Ltd. announces an Exploration/Drilling Update report for its Sandras, Lees deposit at the Finniss project. Drilling results incl. 24.0m @ 1.02% Li2O from 177m. Emerging Australian lithium developer, Core Exploration Ltd (ASX: CXO) | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Stephen Biggins (Internal) | |
| ABSTRACT: | Emerging Australian lithium developer, Core Exploration Ltd (ASX: CXO) (“Core” or the “Company”), is pleased to announce new exploration drill results from the Lees, Booths and Sandras prospects and a number of other prospects within Core’s 100%-owned Finniss Lithium Project in the Northern Territory (“Finniss”). These new results demonstrate the significant potential for Core to continue to expand and define substantial additional lithium resources at Finniss through exploration drilling. The Finniss Project, located near Darwin comprises over 500km2 of tenements covering the Bynoe Pegmatite Field. A large number of lithium-rich pegmatites have been identified on the project area to date, and ongoing exploration is expected to continue locate new pegmatite occurrences for further evaluation. Results to date have confirmed that ore-grade lithium mineralisation is widespread within many of the pegmatites and Core’s drilling initiatives in 2018 are aimed at substantially growing the Mineral Resource base to underpin a potential long-life lithium mining and production operation. Core is growing the lithium Mineral Resources in parallel with completing a Definitive Feasibility Study (DFS) for the development of mining and producing high-quality lithium concentrate from the Finniss Project. To this end, the Company is aiming to complete regulatory approvals, financing and internal approvals before commencing production at the Grants Deposit before the end of 2019. The DFS is expected to be completed during Q4 2018. The Finniss Lithium Project has substantial infrastructure advantages supporting the Project’s development: 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. | |
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