Name of the Project
Finniss lithium project.

Location
The project is located near Darwin, in the Northern Territory, Australia.

Project Owner/s
Core Lithium.

Project Description
A definitive feasibility study (DFS) has confirmed that Core is well positioned to be the next lithium producer in Australia.

Twin studies by Core Lithium have shown a 159% increase in ore reserves the Finniss project – doubling the projected life-of-mine (LoM) through underground mining at its BP33 and Carlton deposits alongside openpit mining at its Grants deposit.

Finniss’ current ore reserves are estimated at 5.7-million tonnes, supporting a seven-year LoM, with the prospect of achieving closer to a ten-year mine life when considering the project’s potential resource inventory.

Previous studies had confirmed at least 3.5 years of lithium concentrate extraction from openpit mining at the Grants deposit, situated 25 km south of Darwin.

The increase was confirmed through an underground prefeasibility study conducted in parallel to a scoping study. The studies examined underground mining of the mineral resources for the Grants, BP33 and Carlton deposits. The Grants, BP33 and Carlton deposits are located within a 3km radius and ore from all mines would be trucked to the Grants processing plant before fulfilling offtake agreements overseas.

The project comprises an openpit and underground operation producing an estimated 175 000 t/y high-quality, low iron lithium concentrate.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
Not stated.

Capital Expenditure
Start-up capital expenditure is estimated at A$85-million.

Planned Start/End Date
An updated definitive feasibility study for the Finniss project is due in the first half of 2021, ahead of a final investment decision.

Latest Developments
The federal government has awarded major project status to the Finniss lithium project,  representing another major milestone in the path to bringing the project into production.

Key Contracts, Suppliers and Consultants
None stated.

Contact Details for Project Information
Core Lithium, tel +61 8 8317 1700 or email info@corelithium.com.au.