Delta Lithium has executed binding farm-in joint venture agreements with both Voltaic Strategic Resources and Reach Resources.
The agreement centres around tenement packages at Delta’s Yinnetharra lithium project in Western Australia.
The packages cover a total area of 413 kilometres squared and are located along the strike from the Malinda resource.
“Delta is pleased to enter this strategic collaboration concurrently with Voltaic Strategic Resources and Reach Resources, simultaneously gaining access to the expanded prospective stratigraphy in addition to our existing Yinnetharra tenure, that has already delivered an impressive maiden resource at Malinda,” Delta managing director James Croser said.
“The combined land package significantly boosts the potential for a long-life lithium operation in the region.
“Both Voltaic and Reach shareholders are poised to directly benefit from Delta’s existing on-site presence at Yinnetharra and the expertise that our team will apply to our expanded footprint starting immediately.”
The agreement will allow Delta to earn an 80 per cent interest in Voltaic’s Ti Tree lithium project in WA over four years.
Delta will also pay Reach a cash payment of $3.2 million and can earn an initial 51 per cent joint venture interest in the tenements of Morrissey Hill and Camel Hill lithium projects.
“With such a dominant footprint in the region, particularly across the highly prospective Leake Springs metamorphic unit adjacent to the Thirty Three suite granite, this deal increases the likelihood of a regional scale project which all shareholders can now benefit from,” Croser said.
“We look forward to working with our new partners and delivering on this potential.”
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