Company
ASX:CXO
Core Lithium Limited is an Australian lithium company and 100% owner of the Finniss Lithium Operation in the Northern Territory. The company also holds a portfolio of tenements in the Northern Territory and South Australia which are prospective for a variety of commodities, including base metals, rare earth elements, gold and uranium.
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The company is confident the Finnis Project is positioned for early production in an increasing price and demand environment and is focused on optimising the DFS for quarter two, ahead of a final investment decision in the latter half of th
The company’s focus in the near-term is optimising the definitive feasibility study expected in quarter two, ahead of a final investment decision and construction of the project.
This move reflects another key milestone achieved towards being shovel-ready on Australia’s most advanced new lithium project.
The company has responded to a query from the ASX after its shares increased 45% to 21 cents, just shy of a record high.
The company believes that the targeted drilling at Grants deposit in the Finniss project will add more tonnes to the resource at a “decent lithium grade”.
The company plans to conduct its first shallow gold drilling program before year-end to test the large gold trend for gold mineralisation below the surface.
The company’s low-cost field investigations continue to uncover new targets and prospects, building the prospectivity of the Bynoe Gold Project area.
The company is positioned to be Australia’s next lithium producer through the development of its flagship Finniss Lithium Project and has already established binding and non-binding offtake agreements within the lithium battery supply chain
The company is now part of a comprehensive collaborative ecosystem bringing innovative mining extractive technologies to the table.
Piper North Prospect is one of the gold anomalies that have emerged from the re-assaying of lithium exploration soil samples and this program is expected to generate further targets.
The company has started drilling with a second diamond rig targeting open extensions of the Grants and BP33 ore bodies in a bid to add to resources and reserves.
Core’s low-cost gold re-assay and field exploration program has generated several new targets where there were no previous gold assays – boosting the company’s confidence in the gold potential of this project.
The company initiated the drilling after mine planning and resource assessment studies highlighted opportunities to further extend mineral resources and ore reserves at Grants and BP33 deposits.
"Core remains absolutely focused on delivering Australia’s next lithium project by developing the Finniss Lithium Project near Darwin in the Northern Territory,” says MD.
The NT Environment Protection Authority has decided that the Environmental Impact Assessment for the proposed underground mine will be via a supplementary environmental report.
The Northern Territory Environment Protection Authority has decided that the Environmental Impact Assessment for proposed underground mine will be via a supplementary environmental report (SER).
Recent re-assays have increased the project’s gold potential but the company remains fully focused on delivering Australia’s next lithium project with Finniss Lithium Project near Darwin.
The company is confident that the project is at the front of the line of new global lithium production and has arguably the best logistics chain to markets of any Australian lithium project.
Given the potential to expand high-grade silver mineralisation in conjunction with the prevailing silver price, the company is considering and exploring options including an asset sale.
The evaluation of key underground PFS findings has identified opportunities to further add value resulting from recent increases to Finniss mineral resources and ore reserves and doubling of life of mine.
