Annual Technical Report GR480 Albarta North Project, 1 February 2018 to 31 January 2019, EL 28029, EL 29689, EL 30793

Abstract

This is the fourth Group Reporting of Core Lithium Ltd's (CXO) Albarta North Project (GR480) comprising three exploration licences (EL 28029, EL 29689 and EL 30793) which are held 100% by DBL Blues Pty Ltd (EL 28029 and EL 29689), and Uranium Generation Pty Ltd (EL 30793) which are wholly owned subsidiaries of CXO. The project area is dominated by parts of the Aileron and Irindina Provinces as well as the Amadeus Basin. The basement in the area consists of sedimentary and igneous rocks of the Aileron Province of Palaeo-Proterozoic age (1865-1500 Ma). The rocks have been metamorphosed to upper green-schist to lower amphibolite facies during the Strangways Orogeny (1740-1690 Ma). In previous years CXO has collected surface geochemistry on several tenements, collected IP and VTEM datasets over Mt Riddock and completed RC drilling at Copper Royals and Virginia targeting copper mineralisation. No on-ground work was conducted on EL 28029, EL 29689, or EL 30793 during the respective reporting period 1 February 2018 to 31 January 2019. This is largely due to a substantial commitment of resources and funds by CXO to pursue an aggressive resource definition drilling campaign at the Finniss Lithium Project area, proximal to Darwin. It is anticipated exploration work will recommence on GR 480 during 2019. CXO will have a focus on the lithium potential of the Arunta pegmatites, largely within the Barrow Creek-Anningie pegmatite fields. An assessment of the Albarta North pegmatites suggests most are of the REE style and therefore do not have potential for lithium. However, further field investigation would need to be completed to confirm this. EL 30793 also has some potential for hard rock-style uranium. The uranium market appears to be picking up and if this continues there may be impetus to begin exploration on this tenement in the coming year.