Core Lithium Ltd (ASX:CXO) is preparing to ship its first assignment of direct ship ore (DSO) spodumene from the Finniss Project in the Northern Territory, expected to launch before the end of the year and be sold via a tender process due to high levels of interest.
This comes after the first lithium-bearing spodumene was uncovered at Grants Pit at the Finniss Project earlier this month.
CXO intends to commission a crushing and screening plant at the project ahead of the DSO sale and has implemented a night shift to accelerate construction of the Dense Media Separation (DMS) plant to support spodumene concentrate production in the first half of 2023.
“Core Lithium continues to demonstrate progress towards building a great lithium business through the delivery of the Finniss Project to production and the ongoing work to prove up our resources to support future operations,” Core Lithium CEO Gareth Manderson said.
“Finniss will come online at a time of high lithium demand.”
Diamond drilling results for BP33
The company has also completed a 12-hole diamond drilling program at the BP33 prospect, from which five assay results have been produced – assays for three of the holes are still pending.
Intersections of note include:
- 35.0 metres at 1.54% lithium, including 4 metres at 2.03% lithium;
- 29.95 metres at 1.11% lithium, including 5.0 metres at 1.63% lithium;
- 22.85 metres at 1.59% lithium, including 3.85 metres at 2.07% lithium; and,
- 15.31 metres at 1.62% lithium.
Collectively, CXO believes these drill intersections have doubled the depth extent of the pegmatites at BP33, with an apparent steep southerly plunge.
“Core has significantly increased exploration and resource expansion funding to grow the resource at Finniss,” Manderson continued.
“The diamond drilling results from BP33, the second lithium mine planned at Finniss, demonstrate the value of this investment.
“Spodumene-bearing pegmatites were intersected in multiple holes at BP33. Importantly, these intersections sit well outside of the current BP33 mineral resource and will likely contribute to a positive mineral resource update.”