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- Core Lithium (CXO) has found new high-grade lithium intersections in the Carlton Prospect
- The new intercepts will expand the mineral resource and add a significant mine-life to the Finniss Lithium Project
- The company aims to develop one of Australia’s most capital efficient and low-cost spodumene lithium projects
- Core Lithium remains steady on market close, trading at 4¢ apiece
Core Lithium (CXO) has found new high-grade lithium intersections in the Carlton Prospect at the Finniss Lithium Project.
The new intercepts are expected to expand the mineral resource at the prospect and add a significant mine-life to the Finniss Lithium Project.
Results include 35 metres at 1.32 per cent of lithium oxide and 14 metres at 1.40 per cent lithium oxide and 8 metres at 1.37 per cent oxide.
Currently, Core is escalating the mineral resources and mine life at Finniss and is close to receiving mine and processing approval.
The company aims to develop one of Australia’s most capital efficient and lowest cost spodumene lithium projects. The Finniss Lithium Project has arguably the best-supporting infrastructure and logistics chain to Asia of any Australian lithium project.
Finniss is located within 25 kilometres from Darwin port, power station, gas and rail. It is one hour from workforce accommodation in Darwin.
“Core’s ability to continue to find, expand and define new high-grade spodumene
pegmatite deposits at Finniss set the path to delivering a long-term high-quality
lithium supply on Asia’s doorstep,” Managing Director Stephen Biggins.
The Recent Chinese Government support for the Electric Vehicle (EV) industry is expected to strengthen Asian EV sales. Europe will also have a 30 per cent-40 per cent year-on-year growth in EVs.
Carlton has obvious potential to continue to expand in size beyond the extent defined by current drilling.
“I wouldn’t be surprised to see markets panic about the future shortfall in lithium supply as forecasts start to take into account lack of investment in new lithium supply as EV sales accelerate in China and back-calculate the time needed for new supply to qualify to be on the road in a lithium battery in a new EV,” Stephen Biggins said.
“Today’s lithium inventory will look like a small speed-bump on the EV super-highway of tomorrow,” he added.
Core Lithium remains steady on market close, trading at 4¢ apiece.
