Core Lithium Commences Brownfields Exploration Program at Finniss Lithium Operation
Core Lithium (ASX:CXO) began a near-mine brownfields exploration program at its Finniss Lithium Operation in the Northern Territory, designed to support resource growth and mine life extension, according to a Friday Australian bourse filing.The company said the program is focused on the Blackbeard prospect, its priority growth opportunity at Finniss, designed to support a maiden mineral resource estimate and assess Blackbeard's potential as a future source of high-grade ore feed.Up to 12,150 meters of diamond drilling will test the continuity and quality of lithium mineralization, enabling geological interpretation and assessment of the potential for mineral resource estimation, the filing added.The company said it has also consolidated its tenement portfolio with the acquisition of the Bynoe Lithium tenement from Charger Metals (ASX:CHR), including nearly AU$3.8 million in cash consideration on completion, a deferred cash payment of AU$1 million on a mineral resource estimate, and a 1% gross revenue royalty capped at AU$10 million.
