Lithium Australia NL’s (ASX: LIT) subsidiary, BlackEarth Minerals NL, has acquired the exploration rights to Capricorn Metals (ASX:CMM) Madagascan graphite assets
Due diligence by independent geologists describe the project as highly prospective for large-scale, high-quality graphite deposits.
The deal further strengthens the company's growing graphite and lithium portfolio.
BlackEarth is fully-funded to complete ASX listing requirements in the first half of 2017.
Project details
The tenements cover 175 square kilometres, encompassing two project areas named Maniry and Ianapera.
These projects are at an advanced evaluation stage.
The location is in close proximity to Energizer Resources Inc’s (TSX:EGZ) feasibility stage Molo Graphite Project.