- With a renewed focus on exploration, Core Lithium (CXO) is preparing for its largest-ever drilling campaign at the Finniss Project near Darwin
- Several key contracts. have been awarded, allowing drill service providers to plan their work and mobilise the necessary equipment
- The reverse circulation and diamond drilling program is scheduled to begin in the coming weeks
- Meanwhile, Core is waiting to receive approval for drilling work at six mineral leases for which an option agreement was signed in early March
- Core Lithium is down 3.64 per cent to 26 cents per share
With a renewed focus on exploration, Core Lithium (CXO) is preparing for its largest-ever drilling campaign at the Finniss Project near Darwin.
The Adelaide-based lithium developer recently awarded several key contracts, allowing its drill service providers to plan their work and mobilise the necessary equipment to site.
A reverse circulation and diamond drilling program is scheduled to begin in the coming weeks, and Core’s geological team is currently at the Finniss Project preparing drill access and site logistics.
“We are about to launch the largest exploration and resource drilling campaigns in the company’s history with the aspiration of more than doubling Core’s Lithium resources and the Finniss Project’s life of mine,” said Stephen Biggins, Managing Director of Core Lithium.
“Our lithium exploration and resource drilling budgets have been heavily capital restrained over recent years — and now it is the right time to amp up our lithium drilling alongside accelerating lithium prices.”
Meanwhile, Core is waiting to receive approval for drilling work at six mineral leases — known as the Leviathan and Annie group of pegmatites — for which an option agreement was signed in early March.
Located adjacent to the Finniss Project, the company said it aims to complete the purchase of the assets this year and “significantly increase” the mineral resource.
Core Lithium is down 3.64 per cent to 26 cents per share at 12:14 pm AEST.