Arizona Lithium Limited (ASX: AZL, AZLO, AZLOA, OTC: AZLAF) (“Arizona Lithium” or “the Company”), a leader in sustainable lithium development, is excited to announce a substantial expansion of its Prairie Lithium Project (“Prairie”) in Saskatchewan, Canada. The Company has successfully increased its mineral title interest by 39,331 net acres (approximately 159 km²), marking a significant step forward in its growth strategy.
This expansion, representing an 11% increase in the Company’s landholdings, brings the total mineral title interest of the Prairie project to over 390,000 acres (approximately 1,578 km²). The additional acreage is strategically located and contiguous to Prairie’s existing land, enhancing the project's overall commercial viability and potential for future production, which is estimated for the first half of 2025.
The new lease acreage was acquired from a prominent mineral title holder, known for their extensive holdings in the region. This strategic partnership allows Arizona Lithium to lease the lithium rights within specific formations on the newly acquired properties, further solidifying the Company’s position in the lithium market.
In line with its commitment to sustainable and responsible development, Arizona Lithium has initiated comprehensive resource assessment work on the newly acquired land. This assessment aims to understand the resource size and potential, ensuring that the Company’s expansion is both environmentally and economically viable.
Arizona Lithium Managing Director, Paul Lloyd, commented: “Increasing our acreage in these strategic locations allows us greater flexibility for future exploration and production. Our team has kicked off the resource assessment work for these new properties, and I look forward to sharing the results shortly. We have one of the best land positions in Canada and this acquisition makes it even better. This was an opportunistic increase in the Prairie landholding complementary to our strategy of driving towards production commencing in 2025, which would make Prairie one of the fastest to market lithium development projects”.
Contact details:
Jane Morgan
jm@janemorganmanagement.com.au
