New Core resource next month

CORE Exploration has completed its first resource drilling of the high grade, moderate scale BP33 pegmatite at its Finniss lithium project in the Northern Territory, with the rig now upgrading the mainstay Grants deposit 5km away.

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A maiden resource for BP33 is due next month, with Core also noting the positive implications if pegmatites 200-300m away are connected – which would give the BP pegmatite system a total 500m strike length.

Core is aiming to complete a prefeasibility study this quarter and be in production in the June quarter next year.

A direct-ship-ore and concentrate operation is being assessed.

Finniss is 80km from a port at Darwin.

Core recently signed a binding offtake agreement for 1 million tonnes and attracted a A$2 million equity investment from Yahua, said to be one of China’s largest lithium producers.

A US$20 million binding (but conditional) prepaymen...