Pil­bara Min­er­als ex­tends lithium patch

Pilbara News - - Pilbara News - Stu­art McKin­non

Pil­bara Min­er­als has ex­panded its foot­print in the Pil­gan­goora lithium dis­trict by sign­ing an agree­ment with Dakota Min­er­als to ac­quire the Ly­nas Find lithium project.

Un­der the terms of the deal, PM will pay Dakota $5.75 mil­lion in a mix of cash and shares in stages for the project, which hosts a known re­source of 7.3 mil­lion tonnes at 1.25 per cent lithium, 85 parts per mil­lion tan­ta­lum pen­tox­ide and 0.99 per cent iron ox­ide.

PM al­ready has a re­source at Pil­gan­goora of 128.6 mil­lion tonnes, grad­ing 1.22 per cent lithium ox­ide, 138 parts per mil­lion tan­ta­lum pen­tox­ide and 0.63 per cent iron ox­ide.

PM said the ac­qui­si­tion in­creased tonnes read­ily ac­ces­si­ble to fu­ture pro­cess­ing fa­cil­i­ties, grew its lithium ex­plo­ration foot­print at Pil­gan­goora and pro­vided fur­ther op­tions as to where key in­fra­struc­ture com­po­nents for the project might be lo­cated.

“To­gether with the strate­gic co-oper­a­tion agree­ment signed last month with Pil­bara’s other neigh­bour, Al­tura Min­er­als, this means the com­pany has now firmly con­sol­i­dated its strate­gic po­si­tion in this world-class lithium-tan­ta­lum dis­trict,” PM said.

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