KOMIR partner Maximus (ASX:MXR) unearths lithium anomaly near Kali (ASX:KM1) in Goldfields
March 5, 2024Maximus Resources’ soil sampling has uncovered a new Landor lithium target area at its Lefroy lithium joint venture with South Korea in Western Australia’s Eastern Goldfields.
The multi-metals explorer’s new Landor lithium-in-soil anomaly is about 800 metres long and 200m wide, with the company describing it as a strong lithium-in-soil anomalism featuring the pathfinder elements cesium and tantalum.
Maximus Resources discovered the area after undertaking soil geochemistry mapping and a first-phase drill program using from its Korean Government-owned strategic partner KOMIR.
The Korea Mine Rehabilitation and Mineral Resources Corporation is farming into a 30% stake in Lefroy Lithium Project by spending US$3 million ($4.6 million) on exploration.
It has already served up US$200,000 ($307,270) towards project manager Maximus’s exploration activities at the project near Kambalda.
Maximus Managing Director Tim Wither said the company would continue its efforts in at Lefroy, expecting to deliver even more targets.
“These additional results (at Landor) from the project-wide soil sampling program add to the exciting lithium targets at the company’s Lefroy Lithium Project,” he said.
“We are continuing with field mapping at Lefroy and expect the second and third phases of soil mapping to be returned over the coming months, which are expected to deliver additional drill targets in the southern areas.”
Maximus’ Landor Lithium Prospect, displaying lithium soil assay results, spodumene-bearing pegmatite intersections at Lefroy project near Kali Metals on Spargoville tenure.
Forward plan
Maximus hopes to secure full approvals soon to get started on second-phase drilling in the June 2024 half-year at Lefroy project.
The company needs the Australian Government’s Foreign Investment Review Board approval to take the next tranche of funding from its strategic partner KOMIR, the Korean Government’s mining and critical minerals arm.
“We anticipate the second phase drill program will start at Lefroy late this current quarter, pending Foreign Investment Review Board approval,” Wither said.
“The second phase drill program will be targeting infill and extension of the intersected spodumene-bearing pegmatites at the Kandui prospect, whilst scout drilling at both our Landor and Yilmia lithium targets.”
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