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Core Lithium Ltd.
Summary
| Project: | Finniss | |
|---|---|---|
| Deposit: | Carlton | |
| Location: | Australia | |
| Commodities: | Lithium | |
| Date: | 3/12/2019 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Pre-Feasibility Study | |
| Report details: | 12-3-2019: Core Lithium Ltd. announces a Resource Estimation report for its Carlton deposit at the Finniss project. Upgraded mineral resource estimate at Carlton deposit. Emerging Northern Territory lithium developer, Core Lithium Ltd (ASX:CXO) (Core or t | |
| Resources: | (Resource, Total): 8.85Mt @ 1.3% Li2O for 119.7Kt Li2O contained at Finiss project | |
| 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 8.85Mt @ 1.3% Li2O with the addition of a new Mineral Resource Estimate (MRE) at the Carlton Deposit (Table 1). The Carlton MRE now stands at 1.1Mt @ 1.3% Li2O. The Carlton MRE has increased by 38% over the past 3 months (ASX:CXO 18 December 2018) of which 42% is now in the higher confidence Indicated category. The updated lithium Mineral Resource at Carlton is located within the same granted Mining Lease area as the Grants Lithium Deposit and one kilometre from the proposed mine and processing facility at Grants (Figure 5). The Mineral Lease covering both Carlton and Grants was granted in January 2019. The spodumene pegmatite at Carlton is defined at surface by a shallow, 200m long and 15m20m 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. The Finniss Project Mineral Resource is expected to materially increase further in coming weeks as an upgraded Mineral Resource Estimate is announced at Hang Gong and a new Mineral Resource Estimate is announced at Lees-Booths Link. Further to the additional Mineral Resources expected to be announced later in March, resource and exploration drilling will continue to focus on resource expansion, when the 2019 field season commences in mid Q2 2019 | |
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