Finniss Lithium Project
Adelaide, May 10, 2017 AEST (ABN Newswire) - Core Exploration Ltd (
ASX:CXO) is pleased to provide the Company's latest presentation at Sydney Resources Round-up Conference.
WHY INVEST IN CXO
- 2017 Drilling re-commences this month to build on Core's Lithium Resource at Finniss near Darwin in the NT
- Core has established its first JORC 2012 Lithium Resource at the Grants Prospect at the Finniss Lithium Project
- Grants Lithium Resource one of the highest grade lithium deposits in Australia
- Met. work produces high quality 6% Li2O spodumene concentrate at +80% recovery
- Significant potential to grow Finniss Project Resources: Grants is only one of many lithium rich pegmatites identified within Core's large 400km2 of tenure at Finniss
- Preliminary Mining Study shows strongly positive outcomes for starter DSO at Grants
- Potentially the best logistics chain to China of any Australian lithium project -HOA with Darwin Port for export
- CXO Market Cap of $27M has significant upside as Finniss Lithium Project advances
FINNISS LITHIUM PROJECT: Advanced Project with Large-Scale Upside
Core's dominant position in the Bynoe pegmatite field at the Finniss Lithium Project includes:
- One of Australia's Highest Grade Lithium Resources
- Large Area ~400km2 of Granted Tenements
- High Grade Spodumene drill intersections at multiple prospects
- Mt Finniss Mine -the largest pegmatite mine in the NT
- 25 other historic pegmatite mines yet to be tested
- Other additional new large pegmatite targets of equivalent scale to those in WA to be drilled -such as Ringwood and Zola
- Easy trucking distance by sealed road to Port Darwin
EXPLORATION COMMENCING THIS WEEK
Drilling to start later this month
- Exploration and aggressive drill programs in 2017 to target building a resource base to support a long-life lithium production operation
- The 2016 program at the Finniss Project discovered some of the highest grade lithium in Australia, capable of producing a quality chemical grade spodumene concentrate
- Numerous high grade lithium pegmatite targets already identified
-Work programs underway at Finniss to initially include soils and mapping of pegmatite targets, including new targets generated by Core's interpretation of new magnetic survey data
- Shallow RAB and AC drilling to commence later this month followed by deeper RC and Diamond drilling
To view the full presentation, please visit:
http://abnnewswire.net/lnk/937TGV7U
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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