Finniss Lithium Project

Diggers and Dealers Presentation
Diggers and Dealers Presentation
Adelaide, Aug 6, 2018 AEST (ABN Newswire) - Core Exploration Ltd (ASX:CXO) provides the Company's Diggers and Dealers Presentation.

Grants Pre-Feasibility Study Highlights

- CXO on pathway to low-capex lithium concentrate production near Darwin - targeting late 2019

- Development of the high grade (1.5%) Grants deposit only modelled in the PFS

- Preliminary Feasibility Study (PFS) delivers strong financial outcomes:

o Capital Cost only $53.5 million

o A$168 million in free cashflow generated

o Low Operating Cost US$279/t concentrate delivers 57% operating profit margin

o NPV10 of A$140 million (pre-tax)

o IRR of 142%

o Payback in less than 12 months

- Definitive Feasibility Study (DFS) expected later this year aiming to include:

o Increased resources

o Increased concentrate grade and optimised recovery

o Increased offtake commitment

o Increased prepayment (customer) finance

- Binding US$20 million prepayment facility and offtake agreement with Yahua and recent non-binding agreement for US$35 million pre-payment and concentrate with Ruifu (announced post-PFS)

- Potential to grow Resource base across a number of high grade prospects

- Arguably the best logistics chain to Asia and supporting infrastructure of any Australian lithium project, providing significant strategic advantages

- Enterprise Value of $24 million offers substantial leverage to Development and Exploration

Finniss Lithium Project

Core's dominant position in this emerging lithium province

- First mover advantage

- One of Australia's highest grade lithium resources

- Over 100 historic pegmatite occurrences

- Large area -500km2 of tenements

- Granted Mining Lease over historic pegmatite mine

- Widespread high grade spodumene drill intersections at multiple prospects

- Existing and new large pegmatite targets to be tested

- Easy trucking distance by sealed road to Darwin Port

To view the full presentation, please visit:
http://abnnewswire.net/lnk/181TR2MT


About Core Lithium Ltd

Core Exploration ASX:CXOCore 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.

    


Contact

For further information please contact:

Stephen Biggins
Managing Director
Core Lithium Ltd
T: +61-8-7324-2987
E: info@coreexploration.com.au

For Media and Broker queries:

Andrew Rowell
Director - Investor Relations
Cannings Purple
M: +61-400-466-226
E: arowell@canningspurple.com.au



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