Core Lithium Ltd (ASX:CXO) has received a number of expressions of interest for the non-core high-grade silver asset at Blueys project in the Northern Territory and is considering options to realise value.
A sale would also enable the company to fully focus on developing the flagship Finniss Lithium Project also in the NT.
The company has previously discovered high-grade silver, lead and zinc within the Blueys Project, with drilling intersecting up to 1,000 g/t silver and 17% zinc and lead.
Core also found very high grades of 4,500 g/t silver and 10% copper in rock chips at the surface.
Considering best course of action
Core managing director Stephen Biggins said: “Were pleased to have received this interest in our non-core silver assets and will carefully consider the best course of action with a view to generating the maximum value out of these assets for our shareholders.
“As we have stated, we remain committed to progressing activities at our flagship Finniss Lithium Project in the Northern Territory, which was recently the subject of a $5 million concessional Finance Facility through the NT Governments Local Jobs Fund.
“We look forward to updating shareholders once we have carefully explored our options for these silver assets.”
In 2014, drilling by Core intersected silver mineralisation over a 500-metre long zone at the nearby Inkheart prospect that included 3 metres at 198g/t silver and 4.1% lead, and 3metres at 177 g/t silver and 4.1% lead.
Core believes there is significant potential to infill and expand high-grade silver mineralisation at Blueys to define a maiden JORC silver mineral resource.
Given the prospectivity of these silver assets in conjunction with the prevailing silver price, the company is considering and exploring options for the Blueys Silver Project, including an asset sale or restructuring,
The intention is to generate the best value for shareholders and concentrate more fully on Finniss.
Blueys Silver Project is within a 1.5-hour drive by bitumen road to the town of Alice Springs.
Recently the company announced plans to updRead More – Source