Regional Alliance Signed with Lithium Australia Ltd (LIT)
- Alliance signed for the exploration and development of lithium projects in the Goldfields Region of Western Australia
- Existing and future holdings in the region to be combined to form a 50/50 alliance for a minimum period of 5 years
- Grants Cazaly access to 50% of LIT’s rights to the Coolgardie Rare Metals Venture including the Lepidolite Hill lithium mine
- Rights to include a licence accessing LIT’s exclusive Sileachtm lithium extraction technology for the Alliance projects
Cazaly Resources Limited and Lithium Australia Limited (ASX: LIT) have signed an agreement to combine their respective holdings for the exploration and development of Pegmatite Minerals including lithium minerals in the Goldfields region of Western Australia (“the Alliance”). The agreement includes the obligation for both parties to offer to the Alliance rights to pegmatite minerals over any existing or additional ground secured within a 100km radius of Kalgoorlie for an initial period of 5 years.