THE BOURSE WHISPERER: Lithium Australia (ASX: LIT) and Cazaly Resources (ASX: CAZ) – as the Goldfields Lithium Alliance (GLiA) – has acquired the rights to Pegmatitie Minerals in the Widgiemooltha pegmatite field located.
The filed is located approximately 45 kilometres south east of Coolgardie in the Eastern Goldfields of Western Australia and 25km south of the Mount Marion lithium project (60.5 million tonnes at 1.36% Li2O)
The GLiA explained the Widgiemooltha Project covers an area of approximately 81 square kilometres, which is unexplored for lithium to date, despite hosting extensive pegmatites identified by the Geological Survey of Western Australia (GSWA).
“This recent acquisition is further proof of the mutual benefits of the Alliance to both Lithium Australia and Cazaly,” Cazaly Resources joint managing director, Clive Jones said in the group’s announcement.
“The Widgiemooltha pegmatite field is an extensive area of previously unexplored pegmatites in a region known to host significant lithium resources as evidenced at the nearby Mount Marion development.
“Further field work is to commence imminently with a view towards defining the true extent and prospectivity of the pegmatites
“Drilling is planned to be commenced as soon as practicable thereafter.”
“This acquisition further cements 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,” Lithium Australia managing director Adrian Griffin echoed.
“Furthermore, the infrastructure within the Kalgoorlie mining region will be a significant advantage to any potential development opportunities.”