Resource Growth and PFS - Finniss Lithium ProjectCore Exploration Ltd (
- CXO on a pathway to lithium production - targeting late 2019
- Preliminary Feasibility Study (PFS) nearing completion
o Considering low-capex production of spodumene concentrate, for export from Darwin port
o Development of the high grade (1.5%) Grants deposit initially
- Mining Lease Application and approvals processes commenced
- Binding offtake agreement with Yahua (one of China's largest lithium producers)
o Includes US$20 million prepayment facility
- Resource upgrade at Grants and maiden Mineral Resource at BP33 both imminent
- Significant potential to grow Resource base in 2018 across a number of high grade prospects
- Arguably the best logistics chain to Asia and supporting infrastructure of any Australian lithium project, providing significant strategic advantages
- Enterprise Value of less than $30 million offers significant leverage to the development of the Finniss Lithium Project and ongoing exploration programs
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About Core Exploration Ltd
Core Exploration Ltd (ASX:CXO) is an emerging lithium producer focused on development of its Finniss Project near Darwin in the Northern Territory. Core owns 100% of Finniss, a major developing project that lies close to existing infrastructure such as the Darwin Port, grid power, gas and rail infrastructure.
The Finniss Project covers a 500km2 tenement holding and 25 historic pegmatite mines. The project area is about 80km from Darwin Port. Exploration work has generated a near term development timeline, with feasibility studies to be completed over the course of 2018 ahead of receipt of approvals in early 2019 and planned first production during 2019.
An aggressive exploration program is under way, which has confirmed the high quality prospectivity across much of the Finniss Project area. Core's stated ambition is to upgrade Finniss' resource base to fast-track commercialisation options.
Core Exploration Ltd
For broker and media enquiries:
Warrick Hazeldine / Andrew Rowell
M: +61-417-944-616 / +61-400-466-226
Core Exploration Ltd (ASX:CXO) Extensions to Grants Lithium Deposit Intersected in New Exploration Drilling
Core Exploration Ltd (ASX:CXO) Maiden Estimate at BP33 Increases Lithium Resources at Finniss Project by 70%