Alix Announces Lithium Australia Earns 25% Ownership at Electra Lithium Project, Mexico
May 26, 2016 (Source) — ALIX RESOURCES CORP. (“Alix” or the “Company”) (AIX-TSX:V) (37N–FRANKFURT) announces Lithium Australia NL (“LIT”)(LIT-ASX) has now completed its phase one obligations to officially earn a 25% vested interest in the Electra Lithium Project which borders Bacanora Minerals Ltd. (BCN-TSX:V) and Rare Earths Minerals PLC (REM) Sonora Lithium Project located in Sonora, Mexico.
Work continues at the Electra Project to explore and develop the projected extensions of the giant Sonora lithium clay deposit.
“We are pleased to have Lithium Australia achieving their first milestone and becoming a JV partner with Alix. With work underway at Electra we look forward to updating shareholders of both Companies as developments occur.” stated Mike England, CEO of Alix Resources.
The thrust into one of the great lithium provinces
LIT and Alix acknowledge the challenge of bringing the low-grade giants into production and believe the key to commercialization lies in:
- Low energy process flowsheets, and
- Potential to beneficiate the ore.
The lithium clay deposits present a significant challenge and the application of the best available technology will be key to commercializing these occurrences. The application of advances in exploration techniques will accelerate resource assessment.
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Adoption of mineral separation technology form other industries may allow the production of a beneficiated product, to reduce capital and operating costs.
Managing Director, Mr Adrian Griffin: “At Lithium Australia we recognize the value of innovation in developing process solutions. Our success in developing the Sileach™ process for spodumene is a great example and we strongly believe we can develop a processing strategy to enhance the commercial opportunity provided by processing lithium clays.”
Alix has a 10% revenue interest in technologies developed by LIT with regards to work performed in the joint venture.
Alix Resources is a junior mining exploration company focused on seeking and acquiring lithium projects globally. Alix continues to evaluate suitable prospects that fit the mandate of the Company.
ON BEHALF OF THE BOARD
Michael England, President, CEO, Director
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
FORWARD LOOKING STATEMENTS: This news release contains forward-looking statements, which relate to future events or future performance and reflect management’s current expectations and assumptions. Such forward-looking statements reflect management’s current beliefs and are based on assumptions made by and information currently available to the Company. Investors are cautioned that these forward looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected. These forward-looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances. All of the forward-looking statements made in this press release are qualified by these cautionary statements and by those made in our filings with SEDAR in Canada (available at www.sedar.com).
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