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Core Lithium remains on track to ship first spodumene concentrate from Finniss by year-end

Last updated: 21:16 20 Jun 2022 EDT, First published: 21:10 20 Jun 2022 EDT

Core Lithium Ltd - : Core Lithium remains on track to ship first spodumene concentrate from Finniss Lithium Project

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 the Northern Territory of Australia.

The company accelerated mining with the arrival of the northern Australia dry season by commissioning an additional excavator and 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”

Core chairman Greg English said: "The Finniss Project is progressing well with Lucas, CSI and Primero all on site.

“Practical completion of the new administration and IT complex will allow staff to spend more time at the operation and should lead to productivity improvements in simply reducing travel time alone.

"The submission of the BP33 Underground Mine MMP was a great achievement with formal approval anticipated from the NT Government in the coming months.”

Development activities

CSI Mining Services (CSI) began mobilising to the site as planned, following the award of a Crushing Services Contract for the crushing of run of mine ore at the project.

The DMS plant earthworks and handover to Primero are complete, and DMS plant construction activities are underway.

Further, completion of the Finniss site administration and IT complex will allow staff to relocate from the temporary facilities at Tumbling Waters, about 20 kilometres from Finniss.

Moving staff to the site-based administration building will lead to reduced costs, greater efficiencies and higher productivity.

Core has also received initial environmental approval for the BP33 mine and submitted the BP33 Mining Management Plan (MMP).

Forward plan

NT Government approval for the BP33 Underground Mine is a two-stage process, and formal approval is anticipated 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 bought online.

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

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

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