Core Exploration, an Australia-based metals developer has increased the size of its Finniss lithium project in the Northern Territory (NT). The resource increase of up to 5 million tonnes of 1.5% lithium oxide confirms the project as one of Australia’s highest grade, undeveloped lithium deposits.
The BP33 deposit upgrade was particularly impressive, with increases of 51% to 2.15 million tonnes. The overall mineral resource belonging to Finniss is likely to be increased even further next week when the company announces the resource estimate for the Sandras deposit.
Core Exploration is also in the last stages of their feasibility study for the Finniss project which is due for completion by the end of November. This project is one of the few lithium projects that is not located in Western Australia, with its location only 25km from Northern Territories Darwin port. Core are in a strong position and have already signed an off take agreement for the project’s output, which is expected to start in late 2019.