Core Exploration Ltd (ASX:CXO) continues its lithium momentum with four new four new exploration license applications around the Anningie and Barrow Creek Tin Tantalum Pegmatite Fields in the Northern Territory, which are considered prospective for lithium.
The lithium minerals spodumene, elbaite and lepidodite have been recorded in pegmatites from the Anningie Field.
Investors who took the recent placement at $0.022 are in the money as the current price of $0.038 attests to the intense interest in lithium themed stocks.
The lithium content of the Barrow Creek source granites and pegmatites are considerably higher than most other granites in the NT and comparable to source granites in the highly prospective Pine Creek Pegmatite Province.
Core’s NT lithium projects also include the Mount Finniss Tin Tantalum Mine – the largest historically producing tin and tantalum pegmatite mine in the NT and a further 25 tin tantalum pegmatite mines in the lithium rich Bynoe Pegmatite Field.
The Company expects the exploration licenses to be granted in Q3 2016. It will put its $1 million cash position to good use with exploration work over its lithium projects.
Core Exploration has claimed that preparations are underway to commence evaluation and testing of the lithium potential of numerous historic pegmatite mines in the coming weeks.
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