Ibadan, 7 November 2022. – Fleet Space Technologies has announced a major new contract with Core Lithium. The 12-month agreement was signed on October 12 by Fleet Space co-founder & CEO Flavia Tata Nardini and Gareth Manderson, CEO of Core Lithium.
The contract, which comes into effect in May 2023, will see Fleet’s pioneering satellite-based mineral exploration system, ExoSphere, deployed across Core’s tenements in the Northern Territory. Core was also successful in applying for the co-funding of a tenement-wide deployment of Exosphere at its Shoobridge Project in 2022, under round 15 of the Geophysics and Drilling Collaborations program.
This follows the successful results of a collaborative trial between Core Lithium and Fleet Space Technologies at the BP33 prospect. In August 2022, the companies jointly announced the successful conclusion of survey trials. In a statement to the ASX (Australian Securities Exchange), Core Lithium described the results of the trial as “an outstanding success”, noting an “excellent correlation with the pegmatite body interpreted from drilling to depths in excess of 500m.” Core Lithium also stated that “a number of previously unknown targets have emerged – a major boost for exploration.”
Speaking on the contract, Matt Pearson, Co-Founder & Chief Exploration Officer of Fleet Space Technologies, said, “This new contract with Core Lithium marks a huge step forward, not just for our respective companies but for Australia’s entire mineral industry. Global demand for high-grade lithium is growing exponentially, driven by rapid developments in electric vehicles (EVs) and renewable energy storage.” He also stated that “Core is at the forefront of developing this critical resource through its flagship Finniss Project near Darwin. We’re glad that having proved so successful in its trials this year, our pioneering satellite-based technology, ExoSphere, will fully deploy on Core’s tenements across the NT. This is a fantastic opportunity to support and accelerate Core’s vision to become a major lithium producer.”
Likewise, Andy Bennett, Exploration Manager, Core Lithium, stated, “Core is one of the first companies to embrace Fleet’s ExoSphere technology and the first to use it successfully in lithium exploration. Core sees huge potential for ExoSphere to provide robust new targets and focus drilling into the most prospective areas. Core considers that ExoSphere is an innovative new approach to exploration and looks forward to continuing a successful partnership with Fleet Space.”