Lord (ASX:LRD) strikes MinRes lithium farm-in the Eastern Goldfields

Lord (ASX:LRD) strikes MinRes lithium farm-in the Eastern Goldfields

March 20, 2024 Off By Jack Baker

Lord Resources shares have vaulted in early trading after securing a farm-in agreement with $13.3 billion dollar market capper Mineral Resources over its Horse Rocks lithium asset in the Eastern Goldfields of Western Australia.

Horse Rocks sits within a “supergroup” of lithium assets, with MinRes’ globally eminent Mt Marion and Bald Hill projects and Develop’s Dome North all resting within 100 kilometres.

Mineral Resources has taken note of that fertile territory and Lord’s results to date, leaping on the opportunity to snap up a 40 per cent stake by spending $1 million in further exploration.

The pact will in turn provide Lord with maintained exposure to a high-value asset and the lithium expertise of Mineral Resources, with the junior partner holding an option to remain in the joint venture or convert its interest into a 1.5 per cent royalty.

Lord Managing Director Barnaby Egerton-Warburton said the company was extremely excited to secure the strategic partnership.

“The agreement validates the strong work Lord has already completed at the Horse Rocks Lithium Project and provides the opportunity to collaborate with a world-class exploration team drawing on their knowledge and expertise of this highly prospective lithium region,” Egerton-Warburton said.

“We also look forward to ramping up exploration at our Jingjing Lithium Project, which will provide a two-headed lithium exploration strategy.”

While absolute lithium values returned to date from Horse Rocks have not opened eyes, Lord considered the elevated caesium and tantalum pathfinder elements and low potassium ratios an excellent indicator of nearby economic mineralisation.

Mineral Resources seem to agree, and it can move its interest to 70% of the project through $5 million in expenditures after the initial period, and then claim an 85% stake by providing all expenditure through to a mining decision.

Horse Rocks sits in the northern end of what has been dubbed a lithium “super-province”, and Lord maintains its Jingjing exploration landholdings to the south with two exploration licenses between Liontown’s Buldania project and the operational Bald Hill mine.

It is still early days at largely untouched Jingjing, but a recent sampling program has identified four robust LTC anomalies with assayed lithium and the desired pathfinder elements to explore.

Lord is now planning for an infill soil sampling program to further define those anomalies and allow for effective drill targeting.

Please note the following valuable information before using this website. 

Independent Research 

Market Open Australia is intended to be used only for educational and informative purposes, and any information on this website should not be taken as investment advice or guidance. It is important to conduct your own research before making any investment decisions, which should be based on your own investment needs and personal circumstances. Any investment decisions based on information contained on this website should be taken in line with independent financial advice from a qualified professional or should be independently researched and verified. 

We are a boutique environment – the home of uncompromisingly high-quality brands spanning news, opinion, and interaction, priding ourselves on promoting discussion and understanding that facilitates growth. We work closely with our clients to really understand what they are trying to achieve and use best practice available to do that!

Contact info

Suite 3, 47 Havelock Street
West Perth WA 6005
info@marketopen.com.au

Stewart Walters
Managing Director
stewart@marketopen.com.au
+61 414 644 166

Amanda Ellis
Chief Content Producer
amanda@marketopen.com.au
+61 438 003 868

Important links

Follow us