Near the Tule Concession (part of Electra), a significant lithium rich clay deposits has been identified.
The new lithium-clay discovery and the recently applied for Agua Fria concession will comprise a portion of the Electra Project, which at present is owned 25% by LIT and 75% by Alix.
LIT may earn up to 65% by contributing to various project expenditures and making progress payments in cash and shares.
Adrian Griffin, CEO for Lithium Australia, commented: “The significance of high lithium tenors in the initial samples should not be underestimated.
"We are very optimistic about the direction we are headed with Alix and look forward to exploration success as the program unfolds."