Lithium Australia adds Pilbara lithium-tin-tantalum project

By Meagan Evans. Published at Apr 20, 2018, in Mining

Lithium Australia NL (ASX:LIT) today announced that it has acquired the Moolyella Lithium-Tin-Tantalum Project (EL 45/4766) in the Pilbara region of WA, about 1300km north-east of Perth.

LIT purchased this tenement from Anova Metals Australia Pty Ltd. Consideration for the acquisition is $25,000 cash and $25,000 of fully paid shares in LIT valued at the 20-day VWAP of $0.1509 (equating to 165,653 shares).

The exploration licence subject of the Moolyella Project was granted on 4 July 2017 and lies approximately 18 kilometres east-southeast of the township of Marble Bar and 160 kilometres southeast of Port Hedland.

Map LIT Moolyella

The project covers targets within the Fig Tree Gneiss, which is part of the Tambina Supersuite. Outcropping pegmatites occur as swarms with individual dykes being up to 15m thick and traceable for up to 700m along strike. Locally these pegmatites contain abundant lithium micas often associated with alluvial deposits of tin and tantalum.

However it is an early stage of this company’s development and if considering this stock for your portfolio you should take all public information into account and seek professional financial advice.

LIT Managing Director, Adrian Griffin said, “The abundance of fertile granites and associated pegmatites, in the Pilbara, has seen the region emerge as the greatest lithium province in the world. There remains great potential for further discoveries and Moolyella has all the right ingredients.”

S3 Consortium Pty Ltd (CAR No.433913) is a corporate authorised representative of LeMessurier Securities Pty Ltd (AFSL No. 296877). The information contained in this article is general information only. Any advice is general advice only. Neither your personal objectives, financial situation nor needs have been taken into consideration. Accordingly you should consider how appropriate the advice (if any) is to those objectives, financial situation and needs, before acting on the advice.

Conflict of Interest Notice

S3 Consortium Pty Ltd does and seeks to do business with companies featured in its articles. As a result, investors should be aware that the Firm may have a conflict of interest that could affect the objectivity of this article. Investors should consider this article as only a single factor in making any investment decision. The publishers of this article also wish to disclose that they may hold this stock in their portfolios and that any decision to purchase this stock should be done so after the purchaser has made their own inquires as to the validity of any information in this article.

Publishers Notice

The information contained in this article is current at the finalised date. The information contained in this article is based on sources reasonably considered to be reliable by S3 Consortium Pty Ltd, and available in the public domain. No “insider information” is ever sourced, disclosed or used by S3 Consortium.

Thanks for subscribing!