Partial Closure Report EL 31058 02 August 2016 to 16 July 2020

Abstract

This report details exploration conducted within the relinquished portion of EL 31058 by Core Lithium Ltd (CXO). The area is located around the historical Barrow Creek Pegmatite Field in the Northern Territory, approximately 300km North of Alice Springs. The pegmatite occurrences in the Barrow Creek Pegmatite Field have previously provided opportunities for the discovery of commodities such Sn-Ta-W. However, prior to investigation by government geologist Frater (2005), no historical exploration or prospecting investigations had explored the potential for pegmatite-related lithium (Li) mineralisation. It is worth noting that previous exploration and investigations have not focused on, and in many cases not included, the area being relinquished. CXO believes there is a high potential for prospective L-C-T Type pegmatite mineralisation in the region, but the relinquished portion has low prospectivity based on geology and soil geochemistry. Minimal on-ground exploration has taken place on this portion, but a literature review was carried out and is the basis of the regional geology section below. Reconnaissance mapping, rock chip sampling and soil geochemistry programs have been undertaken on the adjacent still-granted ground. CXO has commissioned an AAPA heritage clearance, the results of which have been received. Following a review of CXO's exploration tenure holding in the NT the company has decided to partially relinquish this license so it can focus further on developing and progressing the Finniss Lithium Project.