Jadar Resources to collaborate with European Lithium on Austria projects

by John Shepherd
Wolfsberg is a hard rock lithium deposit in Austria. Photo: European Lithium
Australia-listed exploration companies Jadar Resources and European Lithium are to work together on the development of their respective lithium projects in Austria.

A collaboration agreement includes the establishment of a technical advisory committee, to "enhance the projects with potential economies of scale”.

As part of the agreement, Jadar has waived its first right of refusal over the remaining interest in its 80% majority-owned subsidiary, Jadar Lithium – which owns the Weinebene and Eastern Alps lithium projects in Austria.

The move allows European Lithium to acquire the remaining 20% stake in Jadar Lithium from Exchange Minerals.

'Further exploration'

Weinebene and Eastern Alps lie 20 km to the east of European Lithium’s Wolfsberg lithium project, which Jadar said gives the companies "optionality in terms of future development and production”.

Jadar believes the veins that comprise the JORC compliant resource at Wolfsberg strike into the Weinebene project area.

European Lithium chairman Tony Sage said: "The proximity of Jadar’s lithium projects to Wolfsberg presents a number of potential synergistic benefits for both companies and we look forward to beginning work to further the exploration activities at the projects.”

Wolfsberg is a hard rock lithium deposit around 270 km south-west of Vienna. European Lithium said recent studies support the company’s plans for future sales of lithium hydroxide sales into Europe’s developing electric vehicle battery supply chain.

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