Lithium Australia joins forces with Cazaly Resources

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Published 03-MAY-2016 08:57 A.M.

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1 minute read

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Lithium Australia (ASX:LIT) and Cazaly Resources (ASX:CAZ) 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 is to be known as the Goldfields Lithium Alliance (GLiA) and puts LIT in a commanding position within the most prospective areas of lithium mineralisation in WA.

Existing and future holdings in the region will be combined to form a 50/50 alliance for a minimum of five years and Cazaly now has access to 50% of LIT’s rights to the Coolgardie Rare Metals Venture (CRMV) including Lepidolite Hill.

The CMRV is a Lithium Australia initiative with Focus Minerals Limited (ASX:FML) and includes the historic lithium production centres of the Lipodilite Hill and Tantalite Hill mines.

LIT will also grant a SileachTM license to the Alliance for application of LIT’s 100% owned processing technology, to projects within the alliance.

“At Lithium Australia we see the hard rock as being the future of lithium production. The Goldfields Lithium Alliance with Cazaly provides an extra piece of the puzzle within which we strive to reduce the cost of lithium chemicals to the lowest in the market,” said Lithium Australia Managing Director Adrian Griffin.

“We value the partnership with Cazaly as it brings complementary expertise to our efforts in the Goldfields enabling greater penetration into the opportunities offered by the region.”

The GLiA is expected to enable Lithium Australia to focus on aspects of its broader business plan including the establishment of processing hubs using available processes including Sileach, while drawing on Cazaly’s specialised capabilities.

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