Core Lithium has released an updated mine plan and ore reserve for its Grants deposit at the Finniss lithium project in the Northern Territory, unlocking faster production and lower pre-production costs.
The optimised plan accelerates revenue by delivering first ore within just one month of mobilisation, with Grants initially mined as an open pit before transitioning to underground operations. Core estimates this approach will cut pre-production capital by $35–$45 million.
“The updated ore reserve for Grants delivers clear benefits, continuing as an open pit (transitioning to underground later) brings first ore within one month of mobilisation, brings revenue forward, and reduces Grants pre-production capital by $35–$45 million through deferral of underground infrastructure,” Core Lithium chief executive officer Paul Brown said.
“Collectively, these changes lower capital intensity, support the ongoing strategic funding process, and strengthen Finniss as a compelling restart with a robust, independently supported operating plan.”
The revised Grants ore reserve now stands at 1.53 million tonnes at 1.42 per cent lithium oxide (Li2O), representing a 44 per cent increase in contained lithium.
This follows a detailed geotechnical review and updated pit design, allowing the open pit to reach a depth of -145 metres below ground level, providing stable access to ore and future underground infrastructure.
Grants sits within Core’s broader Finniss project, which covers over 500 km² in the Bynoe Pegmatite Field, just 88 km from Darwin Port.
The updated mine plan leverages existing processing infrastructure, with the open pit designed for safe long-term operations while supporting a seamless transition to underground mining.
Core continues to explore additional pegmatite deposits within the Finniss project, including Blackbeard, BP33 and Carlton, aiming to expand its regional lithium resources.
The company’s strategic approach positions Finniss for a fast-track restart, supported by strong economics and a technically robust operating plan.
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