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Core Exploration begins 40,000-meter drilling program at Finniss lithium project

Core Exploration Ltd. said June 5 that it started a more than 40,000-meter drilling program that includes diamond, reverse circulation and rotary air blast work at the Finniss lithium project in Australia's Northern Territory.

The miner said the first reverse circulation drilling rig has begun drilling lithium pegmatite targets near the Grants resource, with two additional reverse circulation drilling rigs to begin drilling exploration targets and extensions at the BP33 target.

Additional drilling rigs will progressively test targets across the project into 2019.

Meanwhile, a pre-feasibility study for the Grants deposit is expected in June.

In May, the company reported a maiden resource for the BP33 deposit comprising an inferred resource of 1.4 million tonnes at 1.4% lithium oxide, or Li2O, for 20,000 contained tonnes, which increased the project's total resource by 70% to 3.5 million tonnes at 1.4% Li2O for 50,000 contained tonnes.

Earlier the same month, indicated resources more than doubled at the Grants deposit to 2 million tonnes at 1.5% Li2O for 30,000 contained tonnes, with 1.1 million tonnes at 1.5% Li2O for 17,000 contained tonnes in the indicated category at a cutoff of 0.75% Li2O.

Lithium production from the Grants deposit is expected to start by the end of 2019.