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Lithium Australia NL (ASX:LIT) has done a deal with US Masters Holdings (ASX:USH) giving it access to the Lake Johnston pegmatite field in Western Australia. The area is located 440 kilometres east of Perth and near to Poseidon Nickel Ltd's (ASX:POS) Maggie Hays and Lake Johnston operations. In the deal, Lithium Australia will receive all lithium rights over three licences that dominate coverage of the Lake Johnston lithium pegmatite field.