SYDNEY, AUSTRALIA: QXR Resources Limited, an Australian battery minerals company, has announced that it has entered into an agreement to earn a 75% interest in the Liberty Lithium brine project in California, USA.
The project covers 102 square kilometers of land with a surface anomaly of high lithium concentrations up to 215 milligrams per liter. The project is located near Albemarle’s Silver Peak lithium brine deposit, the only producing lithium mine in the USA.
QXR plans to drill the project within two months to test the potential of lithium bearing aquifers at depth and to send brine samples for testwork to various direct lithium extraction providers. QXR and the vendor, IG Lithium LLC, have an indicative development plan and timeline that they believe is achievable in discussions with regulators and local administrators who support battery minerals production.
QXR Managing Director, Stephen Promnitz, said that the Liberty Lithium project is a new large-scale lithium brine project in the right location, with good infrastructure and a pathway to development. He added that QXR now has a battery minerals portfolio of true scale in Tier-1 jurisdictions, including hard rock lithium targets and nickel-copper-cobalt sulphides. He also said that end-users, technology providers, project developers and battery makers have expressed interest in participating with QXR once it identifies lithium brines in drillhole.