Tawana Resources subsidiary Lithco has completed its joint venture partnership agreement with Alliance Mineral Assets (AMAL) for the Bald Hill lithium and tantalum project in Western Australia.
The project is around 50km south east of Kambalda in the Eastern Goldfields of Western Australia.
Under the initial farm-in agreement, Lithco is must spend a minimum of $7.5 million on exploration, evaluation and feasibility by December 31 2017, and is entitled to earn a 50 per cent interest in the project.
Lithco also has to spend $12.5 million in capital spending which will include upgrading and converting the plant to process ore from the project by December 31 2019.
“We are pleased that all the Bald Hill joint venture agreements have been finalised,” Tawana Resources managing director Mark Calderwood said, “and we will continue to work very closely with our joint venture partners, Alliance Mineral Assets to become a spodumene producer in 2017.”
Bald Hill has also delivered strong mineral results following recent drilling, including rich spodumene and tantalum mineralisation.