Quarterly Activities and Cashflow Report 30 June 2017
Core established its first JORC 2012 Lithium Resource at the Grants Prospect at the Finniss Lithium Project ("Finniss"), near Darwin in the NT during the period.
Core has also commenced baselines studies at Grants to support both early development approvals and mine design.
Core is maturing discussions with potential offtake and project partners to advance potential early development of Grants and the Finniss Lithium Project.
Core commenced the first phase of RC drilling of the Zola Pegmatite Swarm during the reporting period.
Subsequent to the reporting period, the first phase of RAB and RC drilling commenced at the large-scale Ringwood Pegmatite Swarm.
Reconnaissance mapping and soil geochemical surveys on EL31058 within the Barrow Creek Lithium Project during the reporting period included 2,150 regional-spaced soils samples.
Core had a strong cash position of approximately $6.1 million to further its project objectives at the end of the period.
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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