OFFTAKE AND MINING APPROVALS FINNISS LITHIUM PROJECT
- 1,000,000t Binding Offtake Agreement and $2M placement to Yahua recently completed
- US$20 million prepaymentfacility secured with Yahua (one of China's largest lithium producers)
- Mining Lease Application lodged for development of Grants Lithium Resource
- Grants DSO Mining and Concentrate Processing Approvals Commenced
- HOA with Darwin Port for export
- Preliminary Feasibility Study (PFS) underway to be delivered Q1 2018 -targeting first production mid 2019
- Core has established one of the Highest Grade Lithium Deposits in Australia near Darwin in the NT
- Resource Upgrade at Grants Q1 2018 and significant potential to grow Resources near Darwin
- 54m @ 1.4% Li2Oat nearby BP33 and3 drill rigs active on adjacent recently acquired Bynoe Project
- Core valuation growth to reflect move from Explorer to Developer
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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