Annual technical report GR459 Anningie Lithium Project from 8 December 2017 to 7 December 2018 EL 31139, EL 31140

Abstract

This is the second Amalgamated Group Reporting for the period 8 December 2017 to 7 December 2018 of the Core Lithium Ltd (CXO) Anningie Li-Pegmatite Project (GR459), comprising 2 exploration licences (EL 31139 and EL 31140) surrounding the historical Anningie Tin (Pegmatite) Field. Both EL's are held 100% by Lithium Developments Pty Ltd, a wholly owned subsidiary of CXO. Each of these tenements are now in their third year of tenure (granted 7 November 2016). In the Anningie Project area, swarms of intrusive pegmatite dykes and sills of the Anningie Tin (Pegmatite) Field are related to the Esther Granite Complex. The Esther Granite Complex is one of several large Palaeoproterozoic felsic intrusive complexes in the region with ages in the range 1820-1789 Ma. Pegmatite veins vary compositionally and texturally from medium to coarse-grained equigranular quartz-feldspar-muscovite-tourmaline-garnet pegmatite, quartz-rich muscovite- tourmaline pegmatite, compositionally segregated (zoned) quartz-muscovite/ quartz-feldspar- tourmaline pegmatite and megacrystic feldspar-bearing pegmatite. Greisenisation associated with pegmatite intrusion is also common. The pegmatite swarms and granite bodies intrude the poorly exposed Palaeoproterozoic Lander Rock Formation and mafic intrusive rocks of the Aileron Province, Northern Arunta. Rocks of the Lander Rock Formation exhibit LP-HT metamorphic grade and generally comprise biotite-muscovite-andalusite-bearing metapelitic, metapsammitic and metapsammo-pelitic schist. The pegmatite occurrences in the Anningie Tin (Pegmatite) Field have previously provided opportunities for the discovery of commodities such as Sn-Ta. 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. Due to ongoing commitments at CXO's Finniss Lithium Project area near Darwin, on-ground exploration activities by CXO were not conducted on EL 31139 and EL 31140 during the reporting period ending 7 December 2018. Future work being considered on EL 31139 and EL 31140 includes reconnaissance mapping, rock-chip sampling and regional soil geochemistry programs to ascertain the existence and possible tenor of Li-mineralising systems in the Anningie Project area, where prospective basement rocks are largely undercover. Further investigations of this potential will be ongoing. While progressing the Finniss Lithium Project has absorbed the majority of CXO's resources and funding over this reporting period, CXO believes there is an excellent strategic fit between the lithium potential of the Anningie Tin (Pegmatite) Field (also the nearby Barrow Creek Pegmatite Field), direct rail link to Darwin Port and the Finniss Lithium Project. This strategic fit in turn expands potential for Darwin to become long-term, central processing and transport hub for NT lithium and spodumene production for CXO.