Emerging lithium company Core Lithium has moved a step closer to the development of its Grants deposit south of Darwin in the Northern Territory.
The NT Environment Protection Authority (EPA) has delivered a positive assessment report for the Grants project, signifying Core’s completion of its environmental impact assessment (EIA) process.
Grants is considered one of Australia’s highest-grade lithium resources, an integral component of Core’s flagship Finnis project.
All of the NTEPA’s recommendations were “within expectations” and will be incorporated into the mining management plan, according to Core.
The company will next submit Finnis’ mining management plan to the department of Primary Industry and Resources (DPIR) for assessment.
“The NTEPA positive assessment report is another exciting milestone achieved by Core as we steadily work towards becoming Australia’s next lithium producer in 2020,” Core managing director Stephen Biggins said.
This development follows Core’s landmark $8.1 million royalty agreement with Canada-based Lithium Royalty Corporation for a 2.5 per cent royalty over production from the Finnis project.
The finance it receives from the royalty, alongside the proceeds from a $2 million share purchase plan, will be used to progress Finnis toward development.
Core plans to focus on further improving Finnis’ production profile and extending its life.
Finnis has JORC 2012 compliant mineral resources of 3.45 million tonnes at 1.4 per cent lithium oxide, covering over 500 square kilometres of granted tenements within the Bynoe pegmatite field.