CXO 0.00% 14.0¢ core lithium ltd

Ann: Trading Halt, page-38

  1. 228 Posts.
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    The Bynoe Project comprises 3 separate, granted exploration licences (EL29699, EL30012 and EL30015) and 2 smaller tenements (MLN16 and EMP28651) which are located entirely within EL30015. The combined tenement package covers a total area of ~88km2 area and is located 20-50km SSW of Darwin in the Northern Territory.
    EL30012 and 30015 are subject to an Option Agreement with private company Orema Pty Ltd. Liontown may earn 100% equity
    in the tenements by:Paying A$10,000 cash on signing of the Agreement
    (completed);
    Paying A$100,000 anytime within 19months of the execution date of the Agreement
    MLN16, EMP28651 and EL29699 are wholly owned by LRL (Aust) Pty Ltd a wholly owned subsidiary of Liontown Resources Limited.

    Ltr has only acquired the tenements on august the 3rd paying $110k plus exploration expenses including the airborne  geophysical survey.
    I would expect cxo to acquire these tenements for around the $110k to $400k mark if this is the case.
    Ltr would most likely move focus to the Kathleen valley lithium play.

    I did a bit of digging on bp32 and bp32w both seem to have the same geology as bp33 and both have a pegmatite thinkness ranging from 2m to 11m which may form into bp33.
    With a bit more Rc drilling around this area bp33 could turn up with enough high grade spodumene for another dso project which would be very nice for cash flow
    I'm also interested in the litchfeild pegmatite that follows the grants mineralised trend with surface samples over 1km strike.
    Tomorrow's ann will be an interesting one. CR19860209.pdf
    gltah Cheers
 
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