Core Lithium reports significant increase in Finniss Mineral Resource Estimate

Core Lithium Ltd (ASX: $CXO) has announced a substantial 58% increase in the Mineral Resource Estimate to 48.2Mt at 1.26% Li2O for its 100% owned Finniss Lithium Project near Darwin in the Northern Territory. The increase includes a 429% growth in the combined Lees & Booths Mineral Resource Estimate to 14.5Mt at 1.11% Li2O, and the declaration of a maiden Mineral Resource Estimate for Seadog. The 2024 exploration program is already underway, with results to be disclosed as they become available.

Executive Commentary on Finniss Mineral Resource Increase

Core Lithium interim CEO Doug Warden expressed satisfaction with the 58% increase in the Finniss Mineral Resource, emphasizing the potential for large clusters of lithium deposits in the Finniss region. He highlighted the 429% increase in the combined Mineral Resource at Lees & Booths, supporting the company's belief in the region's capacity to host significant lithium deposits. Warden also outlined the 2024 exploration program's focus on targeting both larger standalone deposits and clusters of smaller deposits with potential shared infrastructure.

Summary of Core Lithium's Announcement

Core Lithium's announcement of a 58% increase in the Finniss Mineral Resource Estimate reflects the success of its 2023 exploration program, the largest in the company's history. The significant growth in the combined Mineral Resource at Lees & Booths supports the company's view of the Finniss region's potential to host large clusters of lithium deposits. The declaration of a maiden Mineral Resource at Seadog underscores the ongoing organic growth potential of the Finniss Lithium Project. With the 2024 exploration program targeting both larger standalone deposits and clusters of smaller deposits, Core Lithium remains committed to continued exploration and potential shared infrastructure development.