A number of highly prospective lithium assets across the NT and WA have been purchased by Cadence Minerals, a UK based early investment strategy and development firm. The recent acquisition covers a number of potential high-grade projects namely Alcoota (NT), Picasso (WA) and Lithfield (NT).
The company already has experience in the lithium space, with current projects including Sonora Lithium, Cinovec Lithium as well as San Luis Lithium projects. The new projects propose significant exploration advantage, with the Picasso development (near Bald Hill Mine) containing a potential 11 million tonnes reserve @ 1.01% lithium. The company is yet to disclose its detailed plans for the mines, however it is thought that development will begin as soon as Q2 2019.