Announcement Date: 2022-07-12
Announcement Type: Deposit Estimation
Announcement Code: JORC
Company name: Core Lithium Ltd.
Project name: Finniss
Location: Australia
Commodities: Lithium
Highlight: Updated Resource Estimate for Project
Resources: only available to subscribers
CP/QP: only available to subscribers
Announcement summary: Australia’s next lithium producer Core Lithium Ltd (Core or the Company) (ASX: CXO) is pleased to announce significant increases in the Mineral Resource Estimate and Ore Reserve Estimate for the Company’s wholly owned Finniss Lithium Project (Project or Finniss), near Darwin in the Northern Territory (Figure 1). The reported Finniss Lithium Project Mineral Resource and Ore Reserve Estimate updates are the culmination of drilling and exploration efforts undertaken throughout the 2021 drilling season. Mineral Resources The Mineral Resource Estimate (MRE) for the Company’s wholly owned Finniss Lithium Project in the Northern Territory has increased by 28% to 18.9Mt @ 1.32% Li2O (Table 1). Estimates for all existing Mineral Resources have been updated as well as the addition of a maiden Mineral Resource at Ah Hoy (Table 2). All Mineral Resources have been reported at a 0.5% Li2O cut-off, reflecting the current positive economics of the Project. The updated estimates for BP33, Carlton, Hang Gong and Lees include additional drilling and re-interpretation. The Sandras estimate represents a re-interpretation and classification of existing data while the estimates for Grants and Booths represent a rereporting of the existing models at the lower cut-off grade (Table 2).
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