Core Exploration Ltd: First Lithium Drilling to Commence on Finniss Lithium Project

HIGHLIGHTS:

- Core has received all statutory approvals and has appointed a drilling contractor in preparation for first drilling by Core to commence at the Finniss Lithium Project

- Drill program will consist of 2,000m of RC drilling to test 5 high priority, large-scale lithium pegmatite drill targets

- Drilling is scheduled to commence by the end of the month

- Drilling is the only effective test of lithium pegmatites in weathered environments like the Finniss Lithium Project (and also Greenbushes)

Core expects to commence the drilling program by the end of the month.

The drilling program will consist of 2,000m of RC drilling and will test 5 high priority drill targets on granted EL 29698, being the BP 33 (refer to 5 August 2016 ASX announcement), Hills, Grants, Far West Central and Ah Hoy targets. Each of these prospects are considered to be high quality, large-scale lithium pegmatite drill targets within the Company's dominant tenement position in the NT (Fig 1, see link below).

Core considers that drilling is likely to be the only effective test of the grade of lithium pegmatites in weathered environments like the Finniss Lithium Project, as is the case at the Greenbushes deposit in WA.

Discovery of high grade lithium with the drill program would be significant for Core given the scale of some pegmatites identified by the Company being directly comparable to the

scale of pegmatites hosting large lithium resources in the Pilgangoora region in Western Australia.

Core's Finniss Lithium Project covers a large portion of the Bynoe Tin-Tantalum-Lithium Pegmatite field. Bynoe is one of the most prospective areas for lithium in the NT and has many similarities to Greenbushes in WA, one of the world's largest and highest grade spodumene deposits.

As with Greenbushes, before economic lithium was recognised, Core's Finniss Lithium Project also has a 100 year history of tin and tantalum mining.

The Bynoe Pegmatite Field is a 15-20 kilometre wide belt of more than 90 tin and tantalum prospects and mines which stretches over a distance of 75 kilometres from Mount Tolmer to Kings Table (near Port Darwin) in the north with Core's tenements covering the northern end of the Bynoe Pegmatite Field (Figs 1 & 2 - see link below).

Core's Finniss Lithium Project has substantial infrastructure advantages being close to grid power, gas and rail infrastructure and within easy trucking distance by sealed road to the multi-user port facility at Darwin Port - Australia's nearest port to Asia (Figure 2, see link below).

Core expects the drilling to be completed around mid-September with assay results expected mid to late October 2016.

To view tables and figures, please visit:
http://abnnewswire.net/lnk/63G9V0AN


About Core Exploration Ltd:

Core Exploration Ltd. (ASX:CXO) aims to grow shareholder value through the exploration for and discovery of commercially robust base metal and uranium deposits in South Australia and the Northern Territory. Core Exploration's projects have been carefully acquired in geology which hosts world-class mines and within some of the most prospective geological terrains for base metals and uranium in Australia.



Contact:

Stephen Biggins Managing Director
Core Exploration Ltd.
T: +61-8-7324-2987
E: info@coreexploration.com.au