Core increases Finniss resource
PERTH (miningweekly.com) – ASX-listed Core Lithium has reported a 52% increase in the mineral resource estimate for its Finniss lithium project, in the Northern Territory.
The project is now estimated to host 15-million tonnes of resource, grading 1.3% lithium oxide.
The measured and indicated resource has increased by 150%, to 7.62-million tonnes, at 1.41% lithium oxide, adding significant potential to increase the mine life of the newly approved project, Core said on Monday.
Core MD Stephen Biggins told shareholders that the increase in the resource estimate was a further validation of the enormous potential that the project holds.
“We are very pleased to have reached a global mineral resource of 15-million tonnes for the project and are excited to see the life-of-mine significantly improve as a result of this, when mining studies are completed later this month.
“We continue to be encouraged by the ongoing confidence in lithium demand and project support, as recently demonstrated in both our successful capital raising and in the securing of our first Europe-based offtake partner, notwithstanding the current challenging environment as we progress towards construction, commissioning and production.”
A previously completed prefeasibility study into the Finniss project estimated a pre-production capital requirement of A$53.5-million to develop a one-million-tonne-a-year operation producing 225 000 t/y of lithium concentrate.
Core recently inked its first European offtake agreement for 50 000 t/y, in addition to an existing offtake for 75 000 t/y with one of China’s largest lithium producers, ahead of the 2021 production start.
Article Enquiry
Email Article
Save Article
Feedback
To advertise email advertising@creamermedia.co.za or click here
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
North Ridge Pumps is an independent manufacturer of pumps. We have a proven track record for product support and customer service throughout the...
VISIT SHOWROOM
Rittal is a world leading provider of top-quality integrated systems for enclosures, power distribution, climate control, IT infrastructure and...
VISIT SHOWROOM
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
