Core Exploration granted two large ELs as part of the Finniss Lithium Project

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Image credit: Core Exploration ASX statement

Core Exploration’s 100%-owned granted tenure at its Finniss Lithium Project near Darwin has expanded by 250% after the company was granted two new large Exploration Licences.

Image credit: Core Exploration ASX statement

Core said the grant of EL 31271 and EL 31279 will add another 240km2 of granted tenement to the project which has the highest grade lithium drill results in the NT and now totals over 400km in size.

The company, which holds the largest lithium tenure position in the State, has already identified previously undiscovered large pegmatites within other ELs in the project area.

Last year, it discovered the Zola (EL 311256) and Ringwood Pegmatite (EL31127) prospects and, will all the necessary approvals now in place, drilling is expected to commence as soon as the 2017 field season begins.

The company has now set its sights on exploring the newly granted tenements using similar exploration techniques that had proven successful in discovering lithium rich pegmatites within the project area.

“In addition to drilling the large Zola and Ringwood prospects, Core is planning to undertake exploration programmes on these large, newly granted tenements that will be similar to the programmes that were highly successful for Core in 2016, leading to the discovery of multiple high grade lithium rich pegmatites at the Finniss Project, including the Grants, BP33 and Far West prospects,” Core said in a statement to the ASX.