viewCore Lithium Ltd

Core Exploration Ltd raise $2.2 million to accelerate lithium exploration


Core Exploration Ltd (ASX:CXO) has received firm commitments from investors to place 52 million new shares at an issue price of $0.042 per share to raise $2.2 million.

The funds raised will be used to accelerate the lithium evaluation at Core’s Northern Territory tenements.

The placement was substantially oversubscribed, with strong support received from professional and institutional investors in Australia and offshore.

The company is initially focusing its attention on the Finniss Lithium Project in the Bynoe Pegmatite Field, and the Anningie Lithium Project in the North Arunta Pegmatite Province.

The new funds will be used for fieldwork across both the projects with the objective of selecting pegmatite drill targets for the maiden drill program scheduled to commence in Q3 2016.

Core recently commenced fieldwork for the evaluation and geochemical sampling of numerous historic mine workings in the lithium prospective pegmatite fields of the Northern Territory.

Core’s portfolio in the Northern Territory covers more than 25 historic tin-tantalum mines considered highly prospective for lithium mineralisation, including the Mount Finniss Tin-Tantalum Mine.

The Mount Finniss Tin-Tantalum Mine is the largest historically producing tin-tantalum mine in the Northern Territory.

Core’s evaluation and exploration work represent the first systematic assessment of these historic mines and surrounding tenements for lithium, given all of the historical work was primarily focused on tin‐tantalum.


Proactive Investors is a global leader reporting financial news, media, research and hosts events for listed emerging growth companies and investors across four continents.

Quick facts: Core Lithium Ltd

Price: 0.044 AUD

Market: ASX
Market Cap: $34.87 m

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events


The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Core Lithium Ltd named herein, including the promotion by the Company of Core Lithium Ltd in any Content on the Site, the Company receives from...



Core Lithium expects to be construction-ready at Finniss Lithium project by...

Core Lithium Ltd's (ASX:CXO) Stephen Biggins tells Proactive's Andrew Scott their short- and medium-term goals have not been materially impacted by the COVID-19 pandemic and excellent progress is being made on the updated feasibility study for the Finniss Lithium Project in the Northern...

3 weeks, 6 days ago

2 min read