Core Exploration (ASX:CXO) recently added the largest historically producing tin pegmatite mine in the Northern Territory to its portfolio of lithium projects.
Core’s new Finniss Lithium Project covers a prospective lithium rich Bynoe pegmatite field.
The tin tantalum-lithium field is one of the most prospective areas for lithium in the state, and has many similarities to Greenbushes in Western Australia, which is one of the world’s largest spodumene deposits.
Lithium focussed companies have recently been receiving increased investor interest due to the price of the commodity surging on the back of growing global demand for high-tech devices, storage batteries and electric cars.
Core is now preparing to outline details of a share placement, with the ASX granting the company a trading halt to prepare.
The halt will remain in place until the opening of trade on Friday 19th February 2016, or earlier if an announcement is made to the market.
Proactive Investors is a global leader reporting financial news, media, research and hosts events for listed emerging growth companies and investors across four continents.