Core Exploration (ASX:CXO) has built on its early mover advantage in the Northern Territory with the identification of highly prospective lithium-rich pegmatite fields.
The company’s research highlights that the NT has over a 100 years of history in tin and tantalum mining from lithium rich pegmatites similar to the mining history at Greenbushes, Western Australia, one of the world’s largest spodumene deposits.
Although historic mining and exploration in the region has focused on the associated tin-tantalum mineralisation, spodumene and other lithium mineralisation has been previously identified in area pegmatites.
Core recently completed a joint venture on its Blueys project in the territory with China-based Jilin No1 Survey.
This development is seen as an initial foundation for a relationship that has the potential to support both organisations’ goals to make high-quality exploration discoveries.
In particular, the joint venture has enabled Core’s renewed focus on NT lithium and set up near-term newsflow for the company in the form of development updates from the recently identified pegmatites.
Investors have bid listed lithium stocks higher and higher as growth potential of the lithium-ion battery sector is projected to increase rapidly.
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