Lithium Australian NL (ASX:LIT) will commence field work at its Electra project, which is positioned along a potential strike extension from the large Sonora lithium clay deposit in Mexico.
Sonora is the world's largest lithium clay province.
Lithium Australia has a joint venture with TSX listed Alix Resources (TSX:AIX) and have the ability to earn up to 65% as the project advances.
The Sonora lithium project has an Indicated Resource of 5.0 million tonnes of lithium carbonate equivalent, and an Inferred Resource of 3.9 million tonnes of lithium carbonate equivalent.
Lithium Australia is a lithium technology company with multiple projects in Western Australia, one in Czech Republic and one in Mexico.
Most recently, the company was also granted a mineral license in the Bynoe Pegmatite Field, 50 kilometres south-southwest of Darwin in the Northern Territory.
The company holds proprietary lithium extraction processes, uses advanced exploration techniques and has access to lithium sources through its bank of projects.
Sileach™ is a market leading metal extraction technology owned by Lithium Australia.
The Sileach™ process is designed to recover lithium from silicates without the expensive roasting step that has long been the main stay of the lithium recovery process.
In March, the company began to fast track pilot plant testing of the Coolgardie lithium deposit using the Sileach™ process.
Lithium mining costs
Hard rock lithium mining costs are high at around $4,000 per lithium carbonate equivalent tonne.
All commercial processes roast and then leach using a high amount of energy resulting in high operating costs.
The lithium market is still attracting strong investment, regardless of high operating costs due to the global battery market expansion.
Lithium Australia wants to remove the energy cost from hard rock operations using its technology to take the mining cost to below $2,000 per lithium equivalent tonne.
Lithium Australia's share price continues its run now trading around $0.32, an increase of circa 130% over the past three months.
The company is positioned well within a strong Lithium market developing both processing technology that are potentially applicable on a global scale and a growing portfolio of Lithium projects.
Exploration ongoing on multiple projects and pilot testing of the Sileach™ process is likely to produce news flow for the company.
Lithium Australia has an innovative attitude and wants to be a part of creating a paradigm shift within the mining industry supplying the evolving battery market.
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