Emerging lithium producer Core Exploration (ASX: CXO) has revealed its June quarter activities report, during which time the company took a major step forward in its goal to becoming a major Australian lithium producer through the delivery of a pre-feasibility study for the Grants deposit, a key component of the company’s wholly owned Finniss lithium project near Darwin. During the quarter, Core also upgraded the resource for Grants, and established a maiden mineral resource estimate for the BP33 deposit.
The Board of Core Exploration Ltd (“Core” or “Company”) is pleased to present its Quarterly activities report for the Period ended 30 June 2018.
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
Finniss Lithium Project
Core’s flagship asset is its wholly-owned Finniss Lithium Project, located in the Bynoe pegmatite field in the Northern Territory.
The Company is developing one of Australia’s highest-grade lithium resources at the Grants deposit and is also actively exploring the highly prospective BP33 prospect, both of which are integral components of the Finniss Lithium Project.
The Finniss Lithium Project is ideally situated in close proximity to the Darwin Port, Australia’s closest port to China (Figure 1).