Australian lithium developer Core Lithium (ASX: CXO) has released its activities report for the three months to September to the market.
During the September quarter, Core was focused on a number of initiatives aimed at further enhancing the value and potential of its wholly owned Finniss Lithium Project, located near Darwin in the Northern Territory.
During the reporting period, Core:
Commenced a Mineral Resource expansion and exploration drilling program at the Finniss Project, targeting the discovery of new lithium-rich pegmatites as well as increasing Ore Reserves;
Intersected high-grade spodumene mineralisation in multiple drill holes as part of the program, whilst kicking off a second round of expansion drilling; and
Received notice of unconditional FIRB approval for Lithium Royalty Corporation’s (LRC) $8.12 million investment for a 2.5% royalty over future production from the Finniss Project.