Advanced Australian lithium developer, Core Lithium has executed the acquisition of six prospective Mineral Leases (MLs) adjacent to the Finniss Lithium Project near Darwin in the Northern Territory.
In March 2021, Core entered into an option agreement to acquire these six granted MLs, which have a history of tin and tantalum mining and production from pegmatites with similar chemistry to the pegmatites on Core’s adjacent Finniss Lithium Project tenements.
Core’s Managing Director, Stephen Biggins, said the company’s initial evaluation drilling has confirmed the prospectivity for these lithium-rich pegmatites for spodumene mineralisation.
He said the new MLs have significant potential to accelerate opportunities to expand and extend lithium production at Finniss.
“This acquisition represents another enormous opportunity to add significant value for the Finniss Lithium Project through the acceleration of our resource expansion objectives,” Mr Biggins said.
“Bringing these MLs into our portfolio supports our previously stated objective of further increasing the resource and mine life of the Finniss Project and cements our dominant landholding in this lithium-rich and low-risk mining jurisdiction of the Northern Territory.”