Australian mining firm Crusader Resources is looking to farmā€out or sell its lithium interests in Brazil and Portugal.

The move is aimed at exposing the companyā€™s shareholders to potential upside in relation to lithium assets.

In addition, the strategy will enable the company to focus all its development and funding efforts on the Borborema gold project and the Juruena and Novo Astro exploration projects in Brazil.

Crusader Resources managing director Marcus Engelbrecht said: ā€œThe nature of the current lithium market presents an appropriate opportunity for the company to review its options at the prospective Gaia and Manga assets, and to determine a way in which to best realise value for shareholders.

“We remain firmly focused on our core gold assets in Brazil, and on exploring all avenues of funding for these near development and exploration projects.”

ā€œAs we continue to work towards the companyā€™s exciting nearā€term AIM admission, we remain firmly focused on our core gold assets in Brazil, and on exploring all avenues of funding for these near development and exploration projects.ā€

Recently, the company concluded negotiations with the Portuguese mining department for the granting of the Gaia exploration licence.

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The move will result in the companyā€™s subsidiary Third Element Metals (TEM) securing 100% ownership of the Gaia lithium project in the GonƧaloā€Guarda region of north Portugal.

The licence will give access to two nearby exploration blocks in an area covering 88.842kmĀ².

According to the company, the Gaia project is in a similar geological setting to its Manga deposit in Brazil.