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Arizona Lithium (ASX: $AZL) acquires additional interest in prairie lithium project

Arizona Lithium's increased interest in Prairie Lithium Project


Arizona Lithium Limited (ASX: $AZL) has acquired an additional interest in 39,331 net acres for the Prairie project in Saskatchewan, Canada, representing an 11% increase. The new lease acreage is contiguous to Prairie's existing landholding, improving the economics for future production estimated for the first half of 2025. The Company has initiated resource assessment work on the land to understand the resource size and potential.

Arizona Lithium Managing Director's Perspective


Increasing our acreage in these strategic locations allows us greater flexibility for future exploration and production. Our team has kicked off the resource assessment work for these new properties, and I look forward to sharing the results shortly. We have one of the best land positions in Canada and this acquisition makes it even better. This was an opportunistic increase in the Prairie landholding complementary to our strategy of driving towards production commencing in 2025, which would make Prairie one of the fastest to market lithium development projects.

Summary of Arizona Lithium's Announcement


Arizona Lithium (ASX: $AZL) has increased its mineral title interest by 39,331 net acres at its Prairie project, bringing the project's total mineral title interest to over 390,000 acres. The new lease acreage is contiguous to Prairie's existing landholding, improving the economics for future production estimated for the first half of 2025. The Company has initiated resource assessment work on the land to understand the resource size and potential. Arizona Lithium's Managing Director, Paul Lloyd, emphasized the strategic importance of the increased acreage, highlighting the flexibility it provides for future exploration and production. The company's focus on driving towards production commencing in 2025 aligns with its goal of making Prairie one of the fastest to market lithium development projects.

Sourcehttps://announcements.asx.com.au/asxpdf/20231211/pdf/05ydz0htx7syl0.pdf

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