Lithium Australia ups stake in Mexican Lithium clay play

Lithium Australia have increased their interest in the Electra Lithium clays joint venture in Mexico ahead of a 3,000m drilling program scheduled to begin next week.

The aggressively expanding Perth-based developer of Lithium extraction technologies announced this week they had boosted their stake in the Electra joint venture from 25% to 49% under the earn-in terms with TSX-listed Alix Resources.

Electra is on the southern boundary of Bacanora Minerals’ Sonora project, a giant Lithium clays project that grabbed headlines in 2015 with the signing of a major off-take agreement with revered electric car manufacturer Tesla.

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