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At 5.7mt @ 1.3% lithium Finniss is one of
Australia’s highest grade lithium projects

chains and Finniss, because it is a good The NT’s standing as a Tier 1 jurisdiction
concentrate coming from a safe, stable should aid Core’s marketing to internation-
jurisdiction, is generating significant in- al financiers. Biggins said potential offtake
terest.” partners had recognised the importance
While the entire automotive sector has of the Government’s environmental ap-
been struck by the pandemic-induced proval of Finniss and the company plans
downturn, EV sales have proven remark- to continue promoting its partnership with
ably resilient in 2020. In June, Tesla Mo- government.
tors Inc, the world’s most prominent EV “We’re well aligned with the NT Govern-
producer, became the most valuable car- ment’s growth strategy and the Federal
maker in the world, following data which Government’s views on Australia’s inde-
suggested EV sales had outstripped com- pendent role in the critical minerals supply
bustion engine sales for several months chain,” he said.
earlier in the year. While it refines the Finniss proposition
Biggins admitted COVID-19 had affect- and awaits a rebound in lithium markets,
ed lithium pricing and financial markets but Core is ensuring it remains active by pur-
he remained confident the key EV ingredi- suing a low-key diversification strategy.
ent would bounce back in coming years. In July, the company announced an
“We are looking to refine the project historic data review had identified several
timeline to match the global recovery,” he gold prospects on the Adelaide River pro-
said. “It felt like the lithium market had bot- ject, 25km south of Finniss.
tomed at the beginning of 2020 and that The data review revealed rock chips of
we could look forward with some optimism up to 170 g/t gold from the Possum project
but then we had the setback of COVID-19. and 8.4 g/t gold from the Arum prospect
“We’ve got to look at how the market re- at Adelaide River. Core said mineralisation
covery is looking but most forecasters are was hosted in gold systems which showed
expecting a dramatic recovery in lithium similarities to the nearby Cosmo gold
pricing from 2022-2023 and beyond as mine, owned by Kirkland Lake Gold Inc.
EVs achieve cost parity with combustion “The gold work has been a natural ex-
vehicles. tension of the expertise we have devel-
“Our target is to be in production in oped – both geologically and jurisdiction-
2022-23 to meet that uptick.” ally – to recognise good opportunities,”
Aiding Core’s financing push is the pro- Biggins said.
gressive approach of global investors. Big- While there has been some gold explo-
gins said there was a clear trend towards ration in the project area, there has been
supporting the EV sector. little systematic work. Biggins said this
“Large banking and financial institutions presented Core with an opportunity to both
have a strong mandate and support the conduct its own field work and review his-
battery minerals industry. Doors are open- torical data on its wider landholdings.
ing that were previously shut to Core. The “We will follow up on those high-grade
banks, large investment funds and even rock chip samples,” he said. “In addition,
private investors are recognising their during the quiet time of the lockdown our
shareholders and customers want them geologists have been going back to the
to invest with ESG in mind. Core’s whole large database of lithium assays and be-
objective is to tap into that, highlighting that gan looking at them for gold. We have tens
we produce lithium in a transparent, re- of thousands of assays to work through
sponsible and sustainable way in a strong which have never been looked at for gold.
jurisdiction like the Territory.” – Dominic Piper

Core was among the successful applicants awarded funding under NT’s Geophysics and
Drilling programme. Others included Inca Minerals Ltd, Icopper Pty Ltd, Ismins Pty Ltd,
Strategic Energy Resources Ltd, IGO Ltd, Gempart (NT) Pty Ltd, Prodigy Gold NL, King
River Resources Ltd and Viva Resources Pty Ltd

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