PERTH (miningweekly.com) – ASX-listed Lithium Australia has continued on its purchase trail, announcing on Friday that it had bought the Moolyella lithium/tin/tantalum project, in Western Australia.
Lithium Australia purchased the exploration licence from Anova Metals for A$25 000 in cash and A$25 000 worth of fully paid ordinary shares valued at the 20-day volume-weighted average price of 15.09c each.
The company told shareholders on Friday that the exploration licence on the Moolyella project was granted in July last year, and was some 18 km from the township of Marble Bar.
The project covers targets within the Fig Tree Gneiss, which is part of the Tambina supersuite.
“The abundance of fertile granites and associated pegmatites in the Pilbara, has seen the region emerge as the greatest lithium province in the world. There remains great potential for further discoveries and Moolyella has all the right ingredients,” said Lithium Australia MD Adrian Griffin.