Quarterly Activities Report for Three Months Ended 31 March 2018
During the reporting period Core:
- Advanced drilling work at the BP33 Prospect at the Company's wholly-owned Finniss Lithium Project near Darwin, with outstanding results released during and post the end of the period;
- Progressed development of the Grants deposit, with a Pre-Feasibility Study to be completed in Q2 once Mineral Resource updates are finalised;
- Presented at the Mines and Money Conference in Hong Kong and the INFORMA Lithium and Battery Metals Conference in Perth;
- Raised $5 million from investors via an oversubscribed placement priced at $0.053 per share after the end of the period; and
- Launched a $2 million Share Purchase Plan for eligible shareholders to participate.
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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