Lithium Australia expands lithium search to QLD

Company News

by David Chau

Lithium Australia (ASX:LIT) has lodged applications for lithium exploration in Cape York, Queensland.

This is Lithium Australia’s first foray into Queensland’s potential lithium mining sector.

The company says the permit areas are located around 89 km southwest of Princess Charlotte Bay and 240 km northwest of Cairns, and covers an area of 1,380 square kilometers.

The company also says, in addition to the ‘very propsective’ lithium, it has identified graphite in the Sugar Bag Creek Quartzite and the George Quartzite.

Lithium Australia reported a net loss of $1.8 million at 31 December 2015.

David Chau

Finance News Network
David joined FNN in April 2016. In addition to presenting the Market Outlook and latest business news stories, David interviews senior economists and CEOs of ASX-listed companies. Prior to working for FNN, David was a litigation lawyer.