Core commences drilling programs at Finniss Lithium Project in NT
Hey! Looks like you have stumbled on the section of our website where we have archived articles from our old business model.
In 2019 the original founding team returned to run Next Investors, we changed our business model to only write about stocks we carefully research and are invested in for the long term.
The below articles were written under our previous business model. We have kept these articles online here for your reference.
Our new mission is to build a high performing ASX micro cap investment portfolio and share our research, analysis and investment strategy with our readers.
Click Here to View Latest Articles
Emerging Australian lithium developer, Core Exploration Limited (ASX:CXO), has announced that drilling has commenced at its Finniss Lithium Project in the Northern Territory.
The 2018 exploration and resource expansion drilling programs are underway to define substantial additional lithium resources as the field season opens.
The Finniss Lithium Project comprises over 500km2 of granted tenements about 80km from Darwin.
Some of the highlights announced today include:
- Four drill rigs to be contracted for major exploration over the coming months;
- First rig has commenced Reverse Circulating (RC) drilling lithium pegmatite targets near Grants Resource;
- Second RC rig to commence drilling exploration targets and extensions to BP33 Mineral Resource next week;
- Third rig to commence diamond drilling, also at BP33, in the coming weeks;
- Fourth rig to commence shallow RAB drilling on regional pegmatite targets before the end of June;
- RC, diamond and RAB drill rigs to progressively test targets during 2018 and into 2019; and
- Over 40,000m of drilling (DD/RC/RAB) planned in the next 12 months.
Results have confirmed that ore grade lithium mineralisation is widespread within the Project, highlighting the significant potential of the tenements, with numerous highly prospective pegmatites yet to be drill tested.
As suggested, CXO still a great deal of work to do with its drill testing so investors should seek professional financial advice if considering this stock for their portfolio.
The total Mineral Resources at Finniss are currently 3.45Mt @ 1.4% Li2O, see Table 1 below:
This year, the aim of the drilling is to substantially grow the Mineral Resource base to underpin a potential long-life lithium mining and production operation.
Drilling will initially target easy accessible areas around Grants and BP33 and will progressively expand to test known spodumene pegmatites and newly identified lithium pegmatite targets, which have been identified by CXO’s exploration team.
In addition, CXO is in the final stages of completing a Pre-Feasibility Study (PFS) for the development of a spodumene concentrate and/or direct shipping ore operation (DSO) from the Grants Lithium Deposit, which is expected to be delivered later this month.
Subject to positive results from the PFS, the company expects to complete a full Feasibility Study for the development of mining and processing lithium from the Finniss Project. It aims to complete regulatory approvals, plus financing and internal approvals, before commencing production at Grants by the end of 2019.
The Finniss Lithium Project has substantial infrastructure advantages – this includes being close to grid power, gas and rail, and easy access for trucks by sealed road to Darwin Port, which is Australia’s nearest port to Asia.
Core’s Managing Director, Stephen Biggins, stated: “The commencement of the 2018 exploration season will see a significant step up in news flow regarding Finniss over the coming months.
“With the PFS due shortly, environmental and regulatory approvals processes underway, advanced metallurgical testwork about to commence and now the drilling, shareholders and investors should expect a steady flow of news over the course of 2018.”
Here is a look at CXO’s 100% owned Finniss Lithium project:
General Information Only
S3 Consortium Pty Ltd (S3, ‘we’, ‘us’, ‘our’) (CAR No. 433913) is a corporate authorised representative of LeMessurier Securities Pty Ltd (AFSL No. 296877). The information contained in this article is general information and is for informational purposes only. Any advice is general advice only. Any advice contained in this article does not constitute personal advice and S3 has not taken into consideration your personal objectives, financial situation or needs. Please seek your own independent professional advice before making any financial investment decision. Those persons acting upon information contained in this article do so entirely at their own risk.
Conflicts of Interest Notice
S3 and its associated entities may hold investments in companies featured in its articles, including through being paid in the securities of the companies we provide commentary on. We disclose the securities held in relation to a particular company that we provide commentary on. Refer to our Disclosure Policy for information on our self-imposed trading blackouts, hold conditions and de-risking (sell conditions) which seek to mitigate against any potential conflicts of interest.
Publication Notice and Disclaimer
The information contained in this article is current as at the publication date. At the time of publishing, the information contained in this article is based on sources which are available in the public domain that we consider to be reliable, and our own analysis of those sources. The views of the author may not reflect the views of the AFSL holder. Any decision by you to purchase securities in the companies featured in this article should be done so after you have sought your own independent professional advice regarding this information and made your own inquiries as to the validity of any information in this article.
Any forward-looking statements contained in this article are not guarantees or predictions of future performance, and involve known and unknown risks, uncertainties and other factors, many of which are beyond our control, and which may cause actual results or performance of companies featured to differ materially from those expressed in the statements contained in this article. S3 cannot and does not give any assurance that the results or performance expressed or implied by any forward-looking statements contained in this article will actually occur and readers are cautioned not to put undue reliance on forward-looking statements.
This article may include references to our past investing performance. Past performance is not a reliable indicator of our future investing performance.