Cazaly Resources and Lithium Australia (LIT) have formed an alliance for the exploration and development of lithium projects in the Goldfields Region of Western Australia.
Under the agreement – which provisions any existing or additional ground secured within a 100km radius of Kalgoorlie to be combined to form a 50/50 alliance for an initial period of 5 years – Cazaly has been granted access to 50% of LIT’s rights to the Coolgardie Rare Metals Venture (CRVM) including the Lepidolite Hill lithium mine.
Cazaly’s joint Managing Director Clive Jones said the alliance with Lithium Australia gives the company a massive leg-up into the expanding new lithium space.
“The alliance gives Cazaly immediate access to a greatly expanded holding in the Coolgardie region, including rights to historic lithium mines, and furthermore grants the right to the use of LIT’s exclusive lithium extraction technologies over our projects in the region,” Mr Jones said.
Lithium Australia’s Managing Director Adrian Griffin said the Goldfields Lithium Alliance with Cazaly provides an extra piece in the supply puzzle within which the company strives to reduce the cost of lithium chemicals to the lowest in the market.
“At Lithium Australia we see the hard rock as being the future of lithium production. 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,” Mr Griffin concluded.