Lithium Australia adds Pilbara lithium-tin-tantalum project

LithiumAustralia NL (ASX:LIT) today announced that it has acquired the MoolyellaLithium-Tin-Tantalum Project (EL 45/4766) in the Pilbara region of WA, about1300km north-east of Perth.

LITpurchased this tenement from Anova Metals Australia Pty Ltd. Consideration forthe acquisition is $25,000 cash and $25,000 of fully paid shares in LIT valuedat the 20-day VWAP of $0.1509 (equating to 165,653 shares).

Theexploration licence subject of the Moolyella Project was granted on 4 July 2017and lies approximately 18 kilometres east-southeast of the township of MarbleBar and 160 kilometres southeast of Port Hedland.

Theproject covers targets within the Fig Tree Gneiss, which is part of the TambinaSupersuite. Outcropping pegmatites occur as swarms with individual dykes beingup to 15m thick and traceable for up to 700m along strike. Locally thesepegmatites contain abundant lithium micas often associated with alluvialdeposits of tin and tantalum.

Howeverit is an early stage of this company's development and if considering thisstock for your portfolio you should take all public information into accountand seek professional financial advice.

LITManaging Director, Adrian Griffin said, "The abundance of fertile granites andassociated pegmatites, in the Pilbara, has seen the region emerge as thegreatest lithium province in the world. There remains great potential forfurther discoveries and Moolyella has all the right ingredients."