Core Lithium Ltd (ASX:CXO) is preparing to ship its first Direct Shipment (DSO) spodumene mission from the Finniss project in the Northern Territory, which is expected to launch before the end of the year and be sold through a sales process. bidding due to high levels of interest.
It comes after the first lithium-containing spodumene was discovered at Grants Pit at the Finniss project earlier this month.
CXO intends to commission a crushing and screening plant on the project prior to the sale of DSO and has set up an overnight shift to expedite construction of the Dense Media Separation (DMS) plant to support production of spodumene concentrate in the first half of 2023.
“Core Lithium continues to demonstrate progress towards building a great lithium business through the delivery of Project Finniss to production and ongoing work to prove our resources to support future operations,” said Core CEO. Lithium, Gareth Manderson.
“Finniss will come online at a time when lithium demand is high.”
Diamond drill results for BP33
The company has also completed a 12-hole diamond drill program on the BP33 prospect, from which five assay results have been produced – assays for three of the holes are still pending.
Noteworthy intersections include:
- 35.0 meters at 1.54% lithium, including 4 meters at 2.03% lithium;
- 29.95 meters at 1.11% lithium, including 5.0 meters at 1.63% lithium;
- 22.85 meters at 1.59% lithium, including 3.85 meters at 2.07% lithium; and,
- 15.31 meters at 1.62% lithium.
Visual observations by Core Lithium of the three remaining drill core samples confirmed that all intersected spodumene-mineralized pegmatite at depths lower than previous drilling, up to 830 meters below surface.
Collectively, CXO believes these drill intersections have doubled the depth extent of the pegmatites at BP33, with an apparent steep plunge to the south.
“Core has significantly increased exploration and resource expansion funding to develop the resources at Finniss,” Manderson continued.
“The diamond drill results from BP33, the second planned lithium mine at Finniss, demonstrate the value of this investment.
“Spodumene pegmatites were intersected in multiple drillholes at BP33. It is important to note that these intersections lie well outside the current Mineral Resource BP33 and will likely contribute to a positive Mineral Resource update.