Ann: Drilling Commenced to Upgrade Grants Lithium Resource, page-4

Nice announcement. 3 rigs to be operating, pretty aggressive. With 3 rigs on site, I wonder if they will also look to do some expansion drilling, sink the drill bit into grants west, test the feeder body existence to the south east? Not only get a measured and indicated resource of 1MT, but look to expand on the initial 1.8MT?

Some key developments happening over the next few months. Through Feb and March we should see:

*assays from BP33, Lees, Hang Gong, Booths, Carltons
*assays from Grants
*second group of assays from BP33
*upgraded grants resource
*release of PFS
*EPA response to NOI re regulatory approval for development of grants
*maybe an initial resource estimate for BP33

We always talk about drilling/assays etc but not much about the studies/paperwork side of things. CXO is making great strides in this area. The office is busy!


From today's announcement:

"the company is undertaking a five hole, wide diameter core drilling program for metallurgical studies that will feed into feasibility studies in 2018 that are considering production of spodumene products from Grants."



From the December investor presentation:

"A low capex DMS process may produce a high value ~5% Li2O concentrate product at acceptable recoveries as an additional early development option to DSO."

"Further review of development options in PFS in context of potential additional resources expected in Q1 2018."



As we know from the Offtake agreement with Yahua:

"In the event that Core elects not to produce a DSO product, but instead takes the product through to a value added Lithium concentrate, the offtake agreement provides for Yahua and Core to negotiate in good faith to agree any necessary amendments to reflect the production of lithium carbonate rather than DSO."

What does all this mean? I'm not sure haha... But I'm starting to think that we could see both DSO AND Li concentrate production in the next 12-18 months.

GLTAH