CXO.ASX: Updated Finniss Lithium Project Reserve and Resource

Updated Finniss Lithium Project Reserve and Resource

Stock	Core Lithium Ltd (CXO.ASX)
Release Time	14 May 2025, 8:58 a.m.
Price Sensitive	Yes

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Core Lithium Increases Finniss Lithium Project Reserves

Key Points

Grants Reserve increased by 100% to 1.15 million tonnes
Total Finniss Ore Reserves now increase to 10.73Mt @ 1.29% Li2O
Ore Reserve represents first 10 years of Restart Study mine plan

Full Summary

Core Lithium Ltd has provided an update to the Mineral Resources Estimate and Ore Reserves at its wholly owned Finniss Lithium Project in the Northern Territory. The updated Finniss Ore Reserve is the culmination of study work undertaken alongside the Restart Study. The Grants Reserve has increased by 100% to 1.15 million tonnes through a move to underground mining, while the BP33 Ore Reserve has also increased by 7%. Combined, the total Finniss Ore Reserves now stand at 10.73Mt @ 1.29% Li2O, representing the first 10 years of the Restart Study mine plan. The overall Project Mineral Resource Estimates have increased by 0.6% to 48.5Mt @ 1.26% Li2O, with the addition of 310kt @ 0.66% Li2O from the Tailings Storage Facility and coarse rejects stockpiles. Core has also defined an Exploration Target of 10.9 to 16.5Mt at a grade of between 1.5 and 1.7% Li2O across the BP33 and Blackbeard deposits, providing further potential for resource growth.

Guidance

The long-term Spodumene price used for calculating the financial analysis is US$1,330/t. The breakeven Net Smelter Return (NSR) cut-off for underground mining is $110/t.