Quarterly Activities and Cashflow Report 31 March 2017
High-grade spodumene intersections in Core's RC and diamond drilling programs reported during the period at the Finniss Lithium Project ("Finniss") in the Northern Territory have confirmed Finniss, as a major new discovery of high-grade lithium.
Finniss includes the highest-grade lithium drill intersections, the largest historic pegmatite mine and at least another 25 recorded pegmatite mines in the Northern Territory.
Core holds the largest lithium tenure position in the NT. Core's 100%-owned granted tenure at Finniss has expanded 250% and now exceeds 400 square kilometres.
Initial metallurgical test work demonstrates the Grants Prospect at the Finniss Lithium Project can produce a high quality 6% spodumene at recoveries of 80% or higher.
A non-binding HOA was signed during the reporting period with Darwin Port to enable Core's potential future use of the nearby East Arm Wharf to export lithium products from Finniss.
Core had a strong cash position of approximately $7.1 million to further its project objectives at end of the period.
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About Core Exploration Ltd
Core Exploration Ltd (ASX:CXO) aims to grow shareholder value through the exploration for and discovery of commercially robust base metal and uranium deposits in South Australia and the Northern Territory. Core Exploration's projects have been carefully acquired in geology which hosts world-class mines and within some of the most prospective geological terrains for base metals and uranium in Australia.
Core Exploration Ltd