Lithium Australia joins Mexico lithium JV

THE BOURSE WHISPERER: Lithium Australia (ASX: LIT) has continued its march towards world domination of the lithium scene with news it has signed a Joint Venture with TSX-listed Alix Resources (TSX: AIX) to explore and develop the projected extensions of the giant Sonora lithium clay deposit located in Mexico, known as the Electra project.

In its announcement to the ASX Lithium Australia highlighted recent analysis of global lithium deposits by Edison Investment Research, which demonstrated the Sonora region’s importnace to future world lithium production.

“The dominance of clay and mica deposits amongst the ‘giants’ may point to the future of the lithium industry, which is where the joint efforts of LIT and Alix will concentrate their exploration efforts,” Lithium Australia said.

LIT has previously announced successful testing of its disruptive lithium extraction technologies on the giant Cinovec deposit in the Czech Republic where LIT has a non-binding Memorandum of Understanding with project owner European Metals Holdings Limited (ASX: EMH).

LIT has exposure to other major lithium provinces, having established a presence in the greisen deposits of Europe through its relationship with European Metals Holdings and around Greenbushes in Western Australia.

The company is also working with Pilbara Minerals (ASX: PLS) in the Pligangoora region, which has of late has become something of a lithium hotspot.