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Highlights
- Core Lithium’s shares were trading at AU$1.45 each, up 4.33% on ASX at 12.39 PM AEDT.
- Sectorally, materials was one of the best performing sectors.
- On 31 October, the company shared its quarterly activities report for the three months ended 30 September 2022.
Shares of Core Lithium Ltd (ASX:CXO) were trading in the green today (November 1) despite no price-sensitive update shared by the company. At 12.39 PM AEDT, the company shares were trading at AU$1.45 each, up 4.33% on ASX. This outperforms ASX 200 Materials index which was up 1.47% at 15,454.40 points at 12.40 PM AEDT. Sectorally, materials was one of the best performing sectors today at 12.41 PM AEDT.
Meanwhile, Core Lithium's shares closed at AU$1.39 apiece, up 3.36% from its previous close on Monday (31 October).
Through an ASX filing, the company shared its quarterly activities report for the three months ended 30 September 2022.
A look at Core Lithium's quarterly report
Image source: © 2022 Kalkine Media®
Data source: Company announcement dated 31 October 2022
Update on Finniss Lithium Project
Significant corporate and project development to safely push Finniss towards first DSO exports in Q4 CY22 and maiden spodumene concentrate in H1 CY23 dominated the Finniss Lithium Project Activities during the September quarter.
The Grants Open Pit's initial resource of spodumene was discovered in the middle of September. To keep the crusher circuit on schedule for commissioning, work continued. To speed up the ramp-up of the Dense Media Separation (DMS) plant building for commissioning, a night shift was implemented.
Core has submitted a Mine Management Plan to the Department of Industry, Tourism, and Trade and gained environmental approval for BP33 (DITT). The last phase in the approval’s procedure is the mine management plan.
A mineral resource and ore reserve estimate update, based on the findings of drilling carried out during the drilling season of 2021, was released by Core on July 12. The majority of the deposits at Finniss, including Sandras, Hang Gong, and Ah Hoy, are still open along strike and at depth. The updated Mineral Resource and Ore Reserve Estimates are crucial because they provide support for a 12-year mine plan for Finniss.
Exploration activity update: BP33 diamond drilling
At BP33, Core finished the 12-hole deep diamond drilling programme that was started in May during the quarter.
Core released the first diamond drilling assays on 1 August 2022. Up to 470 metres below the surface, three holes encountered the major BP33 mineralisation, and up to 420 metres below the surface, five other holes encountered various thicknesses of mineralized pegmatite connected to the southern BP33 body.
