Core heads for the Finniss line

Core Lithium has announced significant increases in the mineral resource estimate (MRE) and ore reserve estimate (ORE) for its wholly-owned Finniss Lithium Project in the Northern Territory.

The updates are the culmination of drilling and exploration efforts undertaken throughout the 2021 drilling season.

The MRE for the project has increased by 28 per cent to 18.9 million tonnes at 1.32 per cent Li2O .

The measured and indicated resource categories have increased by 61 per cent to 13.3mt @1.40 per cent Li2O. About 70 per cent of the MRE is now in the higher confidence measured and indicated categories, with excellent conversion of inferred to indicated.

The ORE has increased by 43 per cent to 10.6mt @ 1.3 per cent Li2O.

Core Lithium non-executive chairman Greg English said construction and mining activities at the project are ramping up with new equipment and people arriving on site.

“The project is progressing well and is currently on track to make its first Direct Ship Ore (DSO) lithium shipment from the NT by the end of CY 2022, with first concentrate production commencing soon after,” he said.

“This is a tremendous outcome for Core and our shareholders and testament to the efforts of our operations and exploration teams as we focus on growing Finniss’ mine life and scale beyond last year’s DFS assumptions.

“The new ORE resulted in a 12-year mine plan. In parallel, our teams will complete the 2022 drilling campaign to see if it can deliver equally impressive results across both our open pit and underground deposits.”

About Ray Chan

Editor of industrial titles and mastheads with Prime Creative Media. Publications include Rail Express and Australian Mining (web content).

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