Adelaide, Australia - The Board of Core Exploration Ltd.
(ASX:CXO) ("Core" or "Company") is pleased to present its Quarterly activities report for the Period ended 30 September 2018.
Core spent much the September quarter working on a number of initiatives aimed at further enhancing the value and potential of its wholly-owned Finniss Lithium Project, located near Darwin in the Northern Territory, as the Company progresses a Definitive Feasibility Study on the project which is due to be released before the end of 2018. During the reporting period Core:
- Identified significant extensions outside of the existing defined Mineral Resource at the Grants Deposit
- Entered into a non-binding US$35 million pre-payment and concentrate offtake term sheet with RuiFu
- Improved the recovery of high-grade lithium concentrate at Grants
- Further boosted the economics of the BP33 Prospect with wide and high-grade lithium assay results
- Progressed exploration work at the Carlton and Hang Gong prospects
- Appointed Argonaut as a financial adviser
- Appointed Erik Palmbachs as Chief Financial Officer
- Relocated head office to larger premises in Adelaide to facilitate expansion plans
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About Core Exploration Ltd:
Core Exploration Ltd. (ASX:CXO) is an emerging lithium producer focused on development of its Finniss Project near Darwin in the Northern Territory. Core owns 100% of Finniss, a major developing project that lies close to existing infrastructure such as the Darwin Port, grid power, gas and rail infrastructure.
The Finniss Project covers a 500km2 tenement holding and 25 historic pegmatite mines. The project area is about 80km from Darwin Port. Exploration work has generated a near term development timeline, with feasibility studies to be completed over the course of 2018 ahead of receipt of approvals in early 2019 and planned first production during 2019.
An aggressive exploration program is under way, which has confirmed the high quality prospectivity across much of the Finniss Project area. Core's stated ambition is to upgrade Finniss' resource base to fast-track commercialisation options.
Core Exploration Ltd.
For further information please contact: Stephen Biggins Managing Director Core Exploration Ltd. T: +61-8-7324-2987 E: firstname.lastname@example.org For Media and Broker queries: Andrew Rowell Director - Investor Relations Cannings Purple M: +61-400-466-226 E: email@example.com