Evergreen Lithium

Operator : Evergreen Lithium

Ownership (01/06/22) : Currently 13.16%

Location:

Western & Northern Australia

Development Stage:

Early Exploration

Highlights

  • Evergreen Lithium owns Picasso (Western Australia – WA), Litchfield (Northern Territories – NT) and Alcoota (NT) all of which are in regions with proven lithium mineralisation and supportive mining infrastructure.
  • Litchfield Lithium Project (Figure 1; NT) is contiguous to Core Lithium’s (ASX: CXO) strategic Finniss Lithium Project which has JORC compliant ore reserves (7.4Mt @ 1.3% Li2O), with production slated to commence in 2H 2022.
  • Cadence owned 31.5% of these assets and sold them for AS$3.16 million (£1.81 million) in Evergreen shares.
  • Subject to Evergreen achieving performance benchmarks Cadence would receive a total consideration of  A$6.63 million (£3.80 million)
  • Evergreen will spend a minimum of A$4 million over the next three years on the exploration of the prospective Litchfield in Northern Australia.
  • Litchfield Lithium Project (Figure 1; NT) is contiguous to Core Lithium’s (ASX: CXO) strategic Finniss Lithium Project which has JORC compliant ore reserves (7.4Mt @ 1.3% Li2O), with production slated to commence in 2H 2022.