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Core Lithium looks ahead to expanding beyond 10 million tonnes

The Finniss Project has a total JORC resource of 9.63 million tonnes grading 1.3% lithium across six deposits.

growth concept
This resource base has increased over 500% since the start of 2018

Core Lithium Ltd (ASX:CXO) has today released a presentation focused on its 2019-20 strategy plan for its Finniss Lithium Project in the Northern Territory.

The definitive feasibility study (DFS) and maiden ore reserve for the project was released in mid-April 2019 supporting Core’s aspirations to become Northern Territory’s first lithium producer.

The DFS considers only two (Grants and BP33) of the project’s six deposits highlighting the potential to increase the project’s valuation through mine life extensions.

The Sandras, Carlton, Hang Gong and recently expanded Lees deposits are not yet included in the DFS project valuation estimates.

READ: Core Lithium new Lees resource expands Finniss total to 9.63 million tonnes at 1.3% lithium

Core’s aspirations for 2019 are to increase the resources through exploration and convert most of the 5 to 8 million tonnes of Exploration Targets to resources and a subset of reserves.

Furthermore, with 500 square kilometres of the Finniss Project containing hundreds of pegmatites, Core belives exploration can result in new discoveries.

Looking ahead to 2020, Core aims to increase the resource base by 2-3 times and extend reserves and mine life to over 7 years as well as continue to make new exploration discoveries.

READ: Core Lithium confirms Finniss is likely to be Australia's next lithium mine

The DFS focused on ore reserves within the high-grade Grants and BP33 deposits at Finnis over an initial 3.5-year period and confirmed the project comprises a low-risk, open pit mining operation.

Quick facts: Core Lithium Ltd

Price: 0.048 AUD

Market: ASX
Market Cap: $46.55 m

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on 5/5/20

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