Skip to content
Finance Investment, Oil Mining Resources

Arizona Lithium Limited (ASX: AZL) – MINING SERVICES AGREEMENT WITH NTEC FOR DEVELOPMENT & PRODUCTION AT BIG SANDY

Arizona Lithium Limited (ASX: AZL) 2 mins read

Arizona Lithium Limited (ASX: AZL, AZLO, AZLOA, OTC: AZLAF), a leader in the sustainable development of lithium projects in North America, is excited to announce a significant step forward in the development of its Big Sandy Lithium Project located in Arizona. The company has entered into a binding Mining Services Agreement with Navajo Transitional Energy Company (NTEC), a premier mining and energy company wholly owned by the Navajo Nation.

This groundbreaking partnership will leverage NTEC's world-class expertise in mining operations and environmental stewardship to bring the Big Sandy Lithium Project through the critical stages of permitting, exploration drilling, mine design, and environmental assessments, culminating in the commencement of mining operations.

NTEC, known for its outstanding safety and environmental records, brings over 25 years of experience in mining operational management, business development, and new project development, under the leadership of Vern Lund, CEO of NTEC, who will join the AZL Board as part of the agreement.

In a statement, Arizona Lithium Managing Director, Paul Lloyd, expressed his enthusiasm for the partnership: We are very pleased to have signed a Mining Services Agreement with NTEC, which formalises the terms initially agreed to under the Strategic Alliance Term Sheet announced in December 2022. NTEC is the ideal operating partner for Big Sandy and will take over the operational development of Big Sandy being responsible for managing the permitting requirements, exploration drilling, mine design, environmental assessments, and development through to commencement of mining operations for the project. Big Sandy represents a substantial development opportunity holding 320,800 tonnes of LCE1, with only 4% of the project drilling, providing significant exploration upside once permitted. We look forward to welcoming Vern Lund to the AZL Board and working closely with NTEC to realise the full potential of the Big Sandy Project.”

Under the terms of the Mining Services Agreement, NTEC will be remunerated through the issuance of 424,242,424 AZL shares at 7.5 cents, contingent upon achieving various milestones, including full permitting of the Big Sandy Lithium Project and shareholder approval.

Arizona Lithium reaffirms its commitment to maintaining 100% ownership of the Big Sandy Lithium Project, underscoring its confidence in the project's potential to significantly contribute to the sustainable development of lithium resources in North America.

 


Contact details:

Jane Morgan

jm@janemorganmanagement.com.au

Media

More from this category

  • Community, Finance Investment
  • 17/04/2024
  • 11:28
Communico Media Group P/L

Place Branding Australia 2024 to Illuminate Vivid Sydney

FOR IMMEDIATE RELEASE Sydney, Australia – April 18, 2024 – Place Branding Australia 2024, the premier conference on placemaking and community identity, will be a highlight of this year's Vivid Sydney festival. The conference will delve into how communities across Australia and beyond use their unique identities to drive economic and social growth, attract residents, and overcome challenges. "Vivid Sydney is the ideal backdrop for exploring the power of place branding," says conference curator Stu Speirs. "The festival's success is a testament to its deep connection with Sydney's identity as a place. This conference offers a front-row seat to a…

  • Finance Investment, Medical Health Aged Care
  • 17/04/2024
  • 11:12
Little Green Pharma

Medicinal cannabis company Little Green Pharma (ASX:LGP) records record quarterly revenue and cash receipts

RECORD REVENUE AND CASH RECEIPTS FOR QUARTER AND FINANCIAL YEAR, POSITIVE OPERATING CASHFLOW FOR FY24 OF $0.5 MILLION Highlights Record quarterly cash receipts of…

  • Contains:
  • Finance Investment, Oil Mining Resources
  • 17/04/2024
  • 10:12
Pantera Minerals Limited (ASX: PFE)

Pantera Minerals (ASX: PFE) – 1,500 New Acres added within the Primary Lithium Target Area

April 17, 2024 – ASX listed minerals explorer, Pantera Minerals Limited (ASX: PFE) is pleased to announce the successful leasing of an additional 1,500…

  • Contains:

Media Outreach made fast, easy, simple.

Feature your press release on Medianet's News Hub every time you distribute with Medianet. Pay per release or save with a subscription.