Core Lithium has started drilling at its Finniss lithium project in the Northern Territory, with a focus on expanding the project through the discovery of new resources.
The drilling follows Core’s Shoobridge drilling project extension, with an additional four holes completed.
Core chief executive officer Paul Brown said the drilling marked the next phase of development.
“Drilling at Finniss will target areas that have not been extensively explored, outside the more developed targets at Grants and BP33,” he said.
“The 2024–25 financial year targets are within trucking distance of the Grants processing infrastructure and are located in a field with extensive historic tin-tantalum workings.
“While operations at Core’s processing infrastructure are being maintained in a restart-ready state, Core is taking the opportunity to add to the substantial resources at Finniss.”
Core expects to receive first assay results from Shoobridge in September, with results from Finniss due in December.
The Finniss update comes as Core considers a potential merger with Charger Metals, making a confidential offer to merge with Charger on July 25, through an all-share transaction.
The offer represented a 47.5 per cent premium from Charger’s last closing price before the proposal.
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