Core Lithium has announced the commencement of the early works and feasibility study stage of its BP33 Underground Project, which is the second proposed mine at its Finniss Lithium Operation in the Northern Territory.
The early works program includes excavation and construction of a covered box cut that will provide the structurally stable portal from which to develop the decline to the BP33 orebody, and surface works including water management facilities and associated infrastructure.
Northern Territory-based contractor, Northern Australia Civil (NAC), is completing the early works contract.
The updated feasibility study is also underway, and will incorporate the much larger BP33 Mineral Resource announced in April 2023, and include operating experience and learnings from the pit and plant, and also additional mining, metallurgical and geotechnical studies.
A final investment decision is due for the project in the first quarter of 2024, following completion of the early works program and feasibility study.
Core Lithium Chief Executive, Gareth Manderson, said that the Grants mine allowed the company to get into production as a lithium miner, and that the larger BP33 deposit now has the potential to be the cornerstone asset for Core Lithium.
“Commencing these $45-50 million of early site works to establish the box cut allows the company to work at pace and stay on the critical path for developing the BP33 underground mine while updating the feasibility study in parallel,” Mr Manderson said.
“This approach will allow the company to be in the best position to move forward quickly should a final positive investment decision be received.”
Featured image: Surface works underway at BP33. Image credit: Core Lithium.
