Core Lithium has been busy as its Napperby uranium deposit in the Northern Territory, with approvals underway to extend the resource even further.
According to Core, the area covered by the project’s existing mineral resource represents only a fraction of its potential.
“Napperby is one of the few uranium projects with an existing mineral resource located in a jurisdiction favourable to uranium mining in Australia,” Core chief executive officer Paul Brown said.
“When combined with the significant exploration potential within the known paleochannel system, there is potential to grow and ultimately realise value from Napperby as uranium becomes an increasingly important part of the global energy transition.”
After a recent site visit by Core exploration geologists, preparations commenced to undertake further drilling during over the coming year with the aim of extending the mineral resource within the prospective palaeochannel.
Core has submitted the requisite approval applications over the areas of interest and expects drilling to commence later this year.
Brown said Core plans to extend the current uranium mineral resource at Napperby through targeted drilling as soon as approvals come through.
“This will proceed in parallel with field investigations into potential for other minerals within the tenement which have seen minimal previous exploration,” he said.
“As drilling continues at our Finniss lithium project in support of our restart studies, we will continue to progress opportunities like Napperby where we believe we can create value for Core shareholders through low cost, targeted exploration in prospective areas.”
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