Lithium-focused Core puts non-core Napperby up for sale

CORE Exploration has formally hung the ‘for sale’ sign up for its Napperby uranium project in Northern Territory after reportedly receiving queries from “multiple parties”.

Lithium-focused Core puts non-core Napperby up for sale Lithium-focused Core puts non-core Napperby up for sale Lithium-focused Core puts non-core Napperby up for sale Lithium-focused Core puts non-core Napperby up for sale Lithium-focused Core puts non-core Napperby up for sale

Core's marketing for Napperby claims there strong potential for finding more 'yellow cake' with further drilling

"To enable Core to remain focussed on the development of the Finniss lithium project and also achieve full value of the Napperby uranium deposit for shareholders, Core will now commence engaging with these parties regarding a sale or partial sale of Napperby," the company said.

Core has re-estimated the resource at 9.54 million tonnes at 382 parts per million uranium oxide for 8.03 million pounds of contained U3O8 (at a 200 ppm U3O8 cut-off).

Core's marketing points out that "only a quarter of the known mineralised area defined by Uranerz in the 1980s at Napperby has been drilled to sufficient density to estimate a mineral resource".

As such the larger mineralised area (25km by 5km) surrounding and adjacent to the deposit has "strong potential to be incorporat...

topics

loader