Core has established its first JORC 2012 Lithium Resource at the Grants Prospect at the Finniss Lithium Project ("Finniss"), near Darwin in the NT.
Core has recently applied for a Mineral Lease to enable development and mining of the ore body at Grants.
A number of Environmental, Engineering and Economic Studies were initiated and continued by Core during the reporting period to facilitate development approval and project feasibility of the Grants Lithium Deposit as a potential Mining Project.
To support the development of Grants, Core has a Heads of Agreement with Darwin Port to export up to one million tonnes per annum of ore from East Arm Wharf. During the reporting period, Core also made a strategic share placement and signed a framework agreement to negotiate a DSO offtake agreement with leading Chinese lithium producer Sichuan Yahua Industrial Group Co. Ltd.
During the reporting period, Core entered into an agreement to acquire the Bynoe Lithium Project directly adjacent to Core's Finniss Lithium Project.
Core had a strong cash position of approximately $7.0 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) 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
Core Exploration Ltd (ASX:CXO) Maiden Estimate at BP33 Increases Lithium Resources at Finniss Project by 70%