Core Exploration Ltd (ASX:CXO) Finniss Lithium Project
10.05.2017 | ABN Newswire
WHY INVEST IN CXO
- 2017 Drilling re-commences this month to build on Core's Lithium Resource at Finniss near Darwin in the NT
- Core has established its first JORC 2012 Lithium Resource at the Grants Prospect at the Finniss Lithium Project
- Grants Lithium Resource one of the highest grade lithium deposits in Australia
- Met. work produces high quality 6% Li2O spodumene concentrate at +80% recovery
- Significant potential to grow Finniss Project Resources: Grants is only one of many lithium rich pegmatites identified within Core's large 400km2 of tenure at Finniss
- Preliminary Mining Study shows strongly positive outcomes for starter DSO at Grants
- Potentially the best logistics chain to China of any Australian lithium project -HOA with Darwin Port for export
- CXO Market Cap of $27M has significant upside as Finniss Lithium Project advances
FINNISS LITHIUM PROJECT: Advanced Project with Large-Scale Upside
Core's dominant position in the Bynoe pegmatite field at the Finniss Lithium Project includes:
- One of Australia's Highest Grade Lithium Resources
- Large Area ~400km2 of Granted Tenements
- High Grade Spodumene drill intersections at multiple prospects
- Mt Finniss Mine -the largest pegmatite mine in the NT
- 25 other historic pegmatite mines yet to be tested
- Other additional new large pegmatite targets of equivalent scale to those in WA to be drilled -such as Ringwood and Zola
- Easy trucking distance by sealed road to Port Darwin
EXPLORATION COMMENCING THIS WEEK
Drilling to start later this month
- Exploration and aggressive drill programs in 2017 to target building a resource base to support a long-life lithium production operation
- The 2016 program at the Finniss Project discovered some of the highest grade lithium in Australia, capable of producing a quality chemical grade spodumene concentrate
- Numerous high grade lithium pegmatite targets already identified
-Work programs underway at Finniss to initially include soils and mapping of pegmatite targets, including new targets generated by Core's interpretation of new magnetic survey data
- Shallow RAB and AC drilling to commence later this month followed by deeper RC and Diamond drilling
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About Core Exploration Ltd:
Core Exploration Ltd. (ASX:CXO) aims to grow shareholder value through the exploration for and discovery of commercially robust base metal and uranium deposits in South Australia and the Northern Territory. Core Exploration's projects have been carefully acquired in geology which hosts world-class mines and within some of the most prospective geological terrains for base metals and uranium in Australia.
Source:
Core Exploration Ltd.
Contact:
Stephen Biggins Managing Director Core Exploration Ltd. T: +61-8-7324-2987 E: info@coreexploration.com.au