Just recently, two Australian mining companies, Armada Metals and Arizona Lithium, have announced their advances in lithium projects in US and Canada, respectively.
Armada has unveiled a binding term sheet agreement to acquire mineral exploration company Midwest Lithium to target hard rock lithium projects in South Dakota. The latter has acquired rights to more than 1,000 unpatented lode mining claims spanning about 93 sq. km in the Black Hills region which is experiencing a resurgence in lithium project exploration and development.
Armada nonexecutive chairperson Rick Anthon has described Midwest as a “transformative” opportunity for the company, as cited by Mining Weekly.
Meanwhile, Arizona Lithium has begun production drilling at its Prairie lithium project in Saskatchewan, Canada, making it the first commercial lithium production plant in the country. The initial phase involves the drilling of vertical wells for exploration of rock formations for commercial viability.
The company enjoys the efficiency gained from operating in a mature and well-developed oil and gas province, facilitating access to skills and services.
The Prairie project boasts a significant resource of 6.3 million tons of lithium carbonate equivalent, positioning it as a critical asset in Arizona Lithium's portfolio.
Theodor Lisovoy, Editor in Chief, Rough&Polished
