Arizona Lithium rescinds Sandy Valley exploration plan, working to refine Big Sandy development
ASX-listed Arizona Lithium on Monday announced that it had rescinded its approved plan of operations for the Sandy Valley exploration project (Phase 3), citing stakeholder input as a key factor in the decision.
The original plan, lodged on April 26, 2024, and approved by the Bureau of Land Management on July 9, 2024, would be revised as the company seeks to optimise its development strategy for the Big Sandy lithium project in the US.
While the Big Sand project undergoes adjustments to its development approach, Arizona Lithium’s short-term focus will be concentrated on the Prairie project in Canada.
“We are committed as a company to both our development projects – the Prairie lithium project and the Big Sandy project. Our short-term focus is on the Prairie lithium project, which we are developing rapidly. Longer term, we are still extremely excited about the Big Sandy project, which is still at a stage that its plan can be optimised to get the best probability of creating shareholder value,” said MD Paul Lloyd.
He stressed that the company was committed to working with stakeholders, including major shareholder Navajo Transitional Energy Company, to refine the Big Sandy project’s strategy. “After careful consultation with all stakeholders, we believe that the best way forward is to withdraw this latest drilling application (from April 2024) and to resubmit a new plan that will optimise project development.”
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