Following the approval of its Mine Management Plan by the Northern Territory government earlier this month, Core Lithium is sharing the results of recent product quality testing at the Finniss Project, located 25km from Darwin.
A final round of testing has confirmed excellent recoveries via Dense Media Separation (DMS) on the spodumene pegmatite extracted from the BP33 site at the Finniss Project.
The results, which showed an exceptional concentrate quality produced at high recovery, will enable Core to avoid much higher capital, financing and operating costs associated with flotation processing.
Specifically, the results showed a high lithium concentrate grade of 6 per cent Li2O, low iron impurities when compared to other local lithium producers of <0.5 per cent Fe2O3, and a high product recovery of 71 per cent.
Core Lithium’s Managing Director, Stephen Biggins, says the results continue to strengthen the financial case for investors.
“Finniss’ superior quality, low-iron, and coarse lithium concentrate differentiates Core in the quality-focussed battery and EV supply chain. We’re going to be able to deliver a superior product.”
“When you couple this with our proximity to Darwin Port, it enables Core to be one of the most capital efficient and cost competitive lithium producers in Australia.”
The new results to be applied to the Feasibility Study update are expected to be shared this quarter, targeting significantly increased mine life and substantially improved economics.
“With project approvals to construct and operate now secured and substantially increased mine life in the near future, Core’s Finniss Lithium Project is positioned to be at the front of the line of new global lithium supply as EV manufacturing recovers post COVID-19,” Mr Biggins concluded.