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Core Lithium Ltd remains on track to ship Finniss’ first spodumene concentrate by the end of the year

Core Lithium Ltd (ASX:CXO) remains on track to ship its first spodumene concentrate by the end of this year from the Finniss Lithium project near Darwin in Australia’s Northern Territory.

The company ramped up mining with the onset of the dry season in northern Australia by commissioning an excavator and additional trucks.

Looking ahead, early indications have demonstrated the potential for substantial resource increases and Core expects to announce a Finniss resource and reserve upgrade in the coming weeks.

“Productivity Improvements”

Senior Chairman Greg English said: “The Finniss project is progressing well with Lucas, CSI and Primero all on site.

“The practical completion of the new administration and IT complex will allow staff to spend more time on site and should lead to productivity improvements simply by reducing travel time.

“The BP33 underground mine MMP submission has been a great success with formal approval expected from the Government of the Northwest Territories in the coming months.”

Development activities

CSI Mining Services (CSI) has begun to mobilize to the site as planned, following the award of a crushing services contract for the crushing of ROM ore at the project.

The DMS plant earthworks and handover to Primero have been completed, and DMS plant construction activities are ongoing.

In addition, the completion of the administrative and IT complex at the Finniss site will allow staff to relocate from temporary facilities at Tumbling Waters, approximately 20 kilometers from Finniss.

Relocating staff to the site administration building will result in reduced costs, greater efficiency and increased productivity.

Core has also received Initial Environmental Approval for the BP33 mine and has submitted the BP33 Mine Management Plan (MMP).

Provisional plan

Government of the Northwest Territories approval for the BP33 underground mine is a two-step process, with formal approval expected in the September quarter.

The Grants open pit will be the initial source of ore for the DMS plant until BP33 and other mines are purchased online.

Core has successfully employed all of the necessary staff for Finniss, with around 80% of the staff living in Darwin.

The company has received all current drill assays from the BP33 and Carlton deposits, and early indications show the potential for substantial resource increases.