Quarterly Activities and Cashflow Report 31 March 2017
Adelaide, April 28, 2017 AEST (ABN Newswire) - The Board of Core Exploration Ltd (
ASX:CXO) ("Core" or "Company") is pleased to present its Quarterly activities report for the Period ended 31 March 2017.
Highlights
High-grade spodumene intersections in Core's RC and diamond drilling programs reported during the period at the Finniss Lithium Project ("Finniss") in the Northern Territory have confirmed Finniss, as a major new discovery of high-grade lithium.
Finniss includes the highest-grade lithium drill intersections, the largest historic pegmatite mine and at least another 25 recorded pegmatite mines in the Northern Territory.
Core holds the largest lithium tenure position in the NT. Core's 100%-owned granted tenure at Finniss has expanded 250% and now exceeds 400 square kilometres.
Initial metallurgical test work demonstrates the Grants Prospect at the Finniss Lithium Project can produce a high quality 6% spodumene at recoveries of 80% or higher.
A non-binding HOA was signed during the reporting period with Darwin Port to enable Core's potential future use of the nearby East Arm Wharf to export lithium products from Finniss.
Core had a strong cash position of approximately $7.1 million to further its project objectives at end of the period.
To view the full report, please visit:
http://abnnewswire.net/lnk/N6Z0PWSO
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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