Calidus new lithium venture17 Jan 2022 22:13
ABOUT CALIDUS RESOURCESCalidus Resources is an ASX listed gold company that is developing the1.5Moz Warrawoona Gold Project in the East Pilbara district of Western Australia.DIRECTORS AND MANAGEMENTMr Mark ConnellyNON-EXECUTIVE CHAIRMANMr David ReevesMANAGING DIRECTORMr John CiganekNON-EXECUTIVE DIRECTORMr Keith CoughlanNON-EXECUTIVE DIRECTORMr Paul BrennanPROJECT DEVELOPMENTMr Richard HillCHIEF FINANCIAL OFFICER Ms Julia BeckettCOMPANY SECRETARYcalidus.com.au ASX : CAIinfo@calidus.com.auSuite 12, 11 Ventnor AveWest Perth WA 6005AUSTRALIA 18 January 2022Calidus forms new Pilbara lithium exploration ventureLithium rights covering more than 1,000sqkm in the East Pilbara of WACalidus Resources Limited (ASX: CAI) is pleased to announce that it has a 50 per cent interest in a new Pilbara lithium exploration company.The company, Pirra Lithium Pty Ltd (Pirra Lithium), is owned equally by Calidus and Haoma Mining NL (Haoma).Pirra Lithium will be assigned tenements and lithium rights across the most prospective lithium ground in the Calidus and Haoma portfolios. These tenements and lithium rights cover 1,063km2.Substantial pegmatites have already been mapped on the tenements, several of which are associated with known tin-tantalum fields.Calidus Managing Director Dave Reeves said the formation of the joint venture with Haoma gives Calidus a low-cost opportunity to gain exposure to an increased area of ground that has been targeted for its lithium potential. “Pirra Lithium creates a highly-leveraged exploration opportunity for our shareholders,” Mr Reeves said.“There is clearly potential to unlock substantial value by exploring what is highly prospective lithium ground in one of the world’s best lithium provinces.“We can capitalise on this opportunity without it having any impact on our core asset at Warrawoona, where we are on track to pour first gold in the coming quarter.“As part of this strategy to create additional value for our shareholders while maintaining our sharp focus on Warrawoona, we are establishing a separate dedicated team to pursue this lithium opportunity.”LocationPirra Lithium has access to tenements totaling 1,063km2 as shown in Figure 1. The tenements were selected based on lithium prospectivity from Calidus’ and Haoma’s extensive landholdings in the East Pilbara.
Sign In
Follow the stocks
