Delta Lithium buys tenements for $800,000

· Delta Lithium announced the acquisition of tenements from Reach Resources at its Yinnetharra Project.

· The deal consists of a $400,000 cash payment and $400,000 in shares.

· The acquisition consolidates the asset to target extensive lithium-prospective host stratigraphy.

Delta Lithium (ASX:DLI) executed an agreement to acquire tenements subject to an earn-in agreement with Reach Resources (ASX:RR1) at its Yinnetharra lithium and tantalum project for a total consideration of $800,000.

The acquisition modifies the previous ownership structure by terminating the earn-in and joint venture agreement originally announced on March 11.

The transaction details outline a $400,000 upfront cash payment alongside $400,000 worth of company shares issued at the 30-day volume weighted average price up to the execution date.

The physical tenement package comprises specific exploration licences and applications spanning an area of 170km2 that overlays identified lithium, gold, fluorite, and tungsten anomalies.

Following the announcement, the Delta Lithium share price was unchanged at $0.17.

The broader strategy at Yinnetharra focuses on targeting lithium mineralisation within the Gascoyne region of Western Australia, where recent drilling has identified numerous tantalum-bearing pegmatites.

The mining company holds a cash balance of $52.2 million alongside additional ASX-listed investments valued at $115 million as of mid-June.