Lithium Australia in Maiden Move Into Queensland as Part of Enlarged Australia-wide Lithium Search

HIGHLIGHTS

• Application made over prospective lithium terrain on Cape York, Queensland
• The terrain includes historic pegmatite mines
• Adds to Lithium Australia’s multiple lithium projects in WA, NT and Mexico
• Maiden Queensland breakthrough part of now enlarged Australia-wide search by LIT for potentially commercial lithium deposits

Lithium Australia NL (ASX:LIT) is pleased to announce its first foray into Queensland’s potential lithium exploration and development sector with the lodgment of applications for ground prospective for lithium on Cape York. The breakthrough applications are the result of an enlarged strategy by Lithium Australia to now look Australia-wide to add to its strong domestic lithium holdings throughout Western Australia and the Northern Territory.
This national focus recently identified a very prospective geological environment in Far North Queensland, leading to the application for exploration permits covering most of the available vacant ground. The permit areas are located about 80km southwest of Princess Charlotte Bay (25km east of the Musgrave Roadhouse) and about 350km northwest of Cairns. The applications cover an area of 1,380 square kilometres along the very prospective margins of the leucogranite (Figure 1).

The geological focus is the historic recording of lepidolite in the Holroyd Group, a metamorphic sequence flanking prospective leucogranite source rocks. Pegmatites are known in the area and some prior mining for mica has taken place.

In addition to the lithium prospectivity, graphite has been identified in the Sugar Bag Creek Quartzite, and the George Quartzite which are major components of the metamorphic sequence.

Lithium Australia’s Managing Director, Mr Adrian Griffin:

“Our broadend nationwide search is designed to derisk the Company’s lithium exploration portfolio by providing exposure to multiple lithium opportunities across multiple state jurisdictions. The area we have identified in Far North Queensland shows the hallmarks we are looking for. It is the right geological environment, has past identification of the lithium mineral suite and has some historic pegmatite mining. Like so many other areas across Australia, lithium has never been an exploration or production target on Cape York. Exploration diversity strenghtens our portfolio and provides the opportunity to match the best available processing technology with the mineralszation types encountered.”

“The Queensland campaign adds to Lithium Australia’s strong and expanding project suite and technological alliances over 2016 with private and government stakeholders alike as well as its 100% ownership of the versatile Sileach™ processing technology and access to a number of other leading technologies.

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