Core has taken a major step forward during the reporting period in its goal to become a major Australian lithium producer through the delivery of its Pre-Feasibility Study (PFS) for the Grants Lithium Deposit, a key component of the Company's wholly-owned Finniss Lithium Project, located near Darwin in the Northern Territory.
During the reporting period Core also:
- Upgraded the Resource for its Grants Lithium Deposit which more than doubled the size of the Indicated Resource and substantially increased the Resource confidence
- RC and diamond core infill drilling continue to demonstrate the remarkable consistency of high-grade spodumene intersections and capacity to increase the resource at the Grants Deposit
- Established a maiden Mineral Resource estimate for the BP33 Lithium Deposit, which further increased the overall Mineral Resources of the Finniss Lithium Project in the Northern Territory to 3.45 million tonnes @ 1.4% Li2O
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About Core Lithium Ltd
Core Lithium 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.
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