Monax Mining Limited (Monax or the Company) is pleased to announce that it has signed a binding term- sheet with the owner of three Exploration Licences in the Litchfield area, Northern Territory. Laboratory assay results for samples collected within the project area report high-grade lithium up to 7.55% Li2O and lepidolite-rich rocks up to 2.39 % Li2O (see Table 1 and Plates 1 and 2).The Litchfield area is located approximately 110 kilometres south of Darwin and is characterised by moderately abundant occurrence of pegmatites.
Source: Monax Mining : New High Grade Lithium Project | 4-Traders