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Core increases Finniss resource

29th November 2018

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

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PERTH (miningweekly.com) – ASX-listed Core Lithium has increased the mineral resource estimate at its Finniss lithium project, in the Northern Territory, to 6.3-million tonnes, grading 1.4% lithium oxide, following the declaration of a maiden inferred mineral resource estimate for the Sandras deposit.

The Sandras deposit is now estimated to host 1.3-million tonnes of inferred resource, grading 1% lithium oxide.

“Adding an additional 1.3-million tonnes to our Finniss resource base from Sandras is a great result. The global mineral resource for the Finniss project has increased rapidly from 1.8-million tonnes at the start of 2018 to 6.3-million tonnes today, and Core’s management is of the view that the global mineral resource will grow even further over the coming two months, given the quality of the drilling results received from the recent exploration drilling at a number of new prospects, namely Carlton, Hang Gong and Lees-Booths-Link,” said Core MD Stephen Biggs.

He said that the new mineral resources had the potential to add substantial upside to the economics of the Finniss project, in addition to the mineral resources already defined.

Core is currently undertaking a definitive feasibility study at the project, focused on mining and production of high-grade lithium concentrate. Project development is planned to start in 2019, with production expected to reach 225 000 t/y of lithium oxide concentrate.

Edited by Creamer Media Reporter

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