Core Lithium Ltd takes shovel in preparation for Finniss key infrastructure, shares rise again

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“As the end of the rainy season approaches, we look forward to seeing site activities ramp up significantly, with our path to first production before the end of 2022 firmly on track.”

Core Lithium Ltd (ASX:CXO) continues to move soil from its flagship Finniss lithium site in Australia’s Northern Territory, where development earthworks are on schedule and the company is preparing to erect a Dense Media Separation (DMS).

To date, the majority of site activities have involved preparatory infrastructure works, which are needed to support mining and mill construction efforts for Australia’s next lithium mine.

Earthworks for the DMS plant platform are due to be completed this month, after which work on the DMS is expected to begin imminently.

All of this brings Core one step closer to its vision of achieving first production by the end of the year.

Finns come to life

Speaking on the progress to date, Core Managing Director Stephen Biggins said: “It is incredibly pleasing to see the foundations of the Finniss Project come to life and begin to take shape in Darwin.

“As the end of the rainy season approaches, we look forward to seeing site activities ramp up significantly, with our path to first production before the end of 2022 firmly on track.”

Work to date

So far, Core has focused its efforts on completing road works, clearing land, establishing administrative buildings and erecting communication towers.

Water management infrastructure works at Finniss have seen:

  • Completion and commissioning of a 7 kilometer process water pipeline from Observation Hill Dam;
  • Start of construction of drainage control infrastructure; and
  • The start of construction of the erosion and sediment control infrastructure.

The dense media separation (DMS) processing plant platform, which is due to be completed in April, will pave the way for Primero Group to begin construction activities of the plant.

According to Core, Primero is well advanced in the factory design and all long-lead packages have been ordered.

The building monolith has also secured access to the site and Northern Territory personnel who are ready to begin work.

Overall, the development of Finniss is proceeding on schedule, and Core looks forward to monitoring the progress of the project throughout the dry season.

With the rainy season nearing its end in April, the lithium stock expects site activities to focus on the pre-mining needed to uncover ore around mid-year and construction of the mine. DMS factory.

The shares again hit a new high today, rising as much as 6.19% to reach AU$1.63, while the company’s market capitalization is around AU$2.74 billion.

About Basic

Core Lithium is building Australia’s newest and most advanced lithium project on the ASX, the Finniss project in the Northern Territory.

With first production scheduled for the end of 2022, the Finniss project puts Core Lithium at the forefront of new global lithium production.

Ultimately, the Finniss project will provide the world with high-quality lithium suitable for lithium batteries used to power electric vehicles and renewable energy storage.

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