Australian Projects
Cummins and Harris Greenstone Uranium Projects
The Cummins and Harris Greenstone Projects cover a combined area of over 2,300km2 and are located in the Tier 1 exploration and mining district of South Australia, which is often considered to be Australia’s most supportive Uranium Mining jurisdiction and where Core Energy already holds the Western Eyre Peninsula (“WEP”) Project.
This region of South Australia hosts several world class operating uranium mines, including the Olympic Dam Mine (BHP Group Ltd, ASX:BHP), the Honeymoon Project (Boss Energy, ASX:BOE), and Heathgate’s Four Mile Mine. In addition, Alligator Energy (ASX:AGE) is currently advancing its Samphire Uranium Project, where it is proposing to extract uranium via In-Situ Recovery (“ISR”), from palaeochannels similar in nature to those identified in historic drilling on Core Energy’s Cummins Project.
Cummins Project, South Australia
- The Cummins Project Area, comprising EL6624, encompasses 952 km2 of highly prospective Uranium tenure located on the southern Eyre Peninsula, South Australia.
- The Eyre Peninsula is one of the highest radiometric regions of South Australia, host to numerous known uranium occurrences and uranium deposits.
- Advanced target area, the Nunmulta Prospect, located west of the township of Cummins in the northern region of EL6624, provides a drill ready walk-up priority target for first round exploration.
- Historic drilling was limited to regional 1km spaced drilling within the road reserves for ease of access. Strong potential for high-grade mineralised zones of significant strike length to be delineated out from the significant historical gamma intercepts, dramatically increasing the overall grade and mineralisation footprint.
- No follow-up uranium exploration has been carried out since Areva relinquished its ground in 2014.
- Stakeholder engagement and statutory approvals for ground disturbing exploration activities to commence in early 2025.
- Drill programs to be prepared to validate historic exploration results and follow up broad spaced drilling in priority target areas. Upon completion of the tenement transfers, low impact, on-ground exploration will begin with surface mapping and sampling, with drilling to commence following receipt of the required government approvals.
- The Company aims to drill test the priority target areas of the Cummins Project within the first half of 2025.
Harris Greenstone Project, South Australia
- The Harris Greenstone Project, consists of two exploration licences EL6578 and EL6579, encompassing 1,350km2 of virtually unexplored extensive palaeochannel systems located in the central Gawler Craton, South Australia.
- Nearby Warrior Uranium Deposit (1.48Mlb U3O8 at 700ppm only 23km away) and Kingoonya palaeovalleys trend into the Harris Greenstone Project project area and supports the potential for a tertiary palaeochannel hosted uranium deposit.
- Core Energy has inherited a first-class geophysical dataset, including magnetics and VTEM which has defined the basement structures, geology and palaeochannel system within the project area that are ideal for drill targeting.
- Native Title Mining 9b Access Agreements in place for the project, which is expected to expedite access to on ground exploration and drilling by up to 12 months.
- Core Energy plans to commence the transfer process for title and the Native Title 9b Access Agreements in early 2025. During this time, target prioritisation and on ground exploration programs will be prepared for regulatory submission/approvals (Exploration Program for Environmental Protection and Rehabilitation – EPEPR).
- The Company aims to quickly be in a position to drill test the Harris Greenstone Project uranium potential.
Western Eyre Peninsula (“WEP”) Project, South Australia
- The CORE Graphite project is situated in the centre of the Eyre Peninsula and forms part of CORE’s ground holding in the region, which comprises of six contiguous exploration licences, covering approximately 1,520km2of the Gawler Craton.
- CORE holds a 100-per cent interest in the project, which has a current JORC resource of 6.22Mt @ 4.8% Total Graphite Content (TGC). Initial exploration and test work was focused solely on large flake graphite, for which the resource has been calculated, however, recent growth in demand for battery grade, ultra-fine flake graphite led the Company to retest core samples. Test work on historic drill core identified ultra-fine flake graphite, which is in high demand due to its suitability for production of spherical graphite used in battery manufacturing.
- Results from test work on historic drill holes (OAD001 and OAD004) conducted by the Beijing General Research Institute of Mining and Metallurgy (BGRIMM) indicate a natural graphite concentrate with a fixed carbon content of 95.6% can be generated using commercialised processing techniques, which can generate a premium product.
- CORE is currently in discussions with the world’s leading lithium-ion battery anode producer and natural graphite end-users, who will evaluate this concentrate for downstream use and guide potential offtake agreements.
