Maximus (ASX: MXR) defines high-priority lithium targets near Kalgoorlie
January 10, 2024Maximus Resources Limited has identified multiple lithium soil anomalies at the Lefroy Lithium Project, expanding the drill target area.
Recent soil sampling has identified a significant lithium trend over 5km, prioritising drill targets.
According to the company, there is a strong correlation between elevated lithium-in-soil anomalies and spodumene-bearing pegmatite intersections.
Meanwhile, further sampling at Lefroy’s northern Yilmia target has revealed a solid lithium-in-soil trend, with peak values of 423ppm Li2O.
Maximus owns 100% of the Lefroy Lithium Project, and KOMIR can farm into a stake of up to 30% by spending up to US$3 million, with Maximus retaining management of the project.
Maximus’ Managing Director, Tim Wither, said assay results from the completed soil-sampling program were very encouraging.
“In addition to the main Lefroy area, soil geochemistry values at the Yilmia prospect are highly anomalous, surpassing typical background soil values at Lefroy by more than 10 times, highlighting a fantastic drill target for the company.
“Both the soil geochemistry mapping and the successful first-phase drill program are utilising KOMIR’s non-refundable deposit, with the larger program to start early this year.
“We are continuing with field mapping at Lefroy and expect the second and third phases of soil mapping to be returned in the current quarter, delivering additional drill targets in the southern areas.”
Next Steps
The company is awaiting final approvals for the next round of drilling, which is expected to occur later in the current quarter.
About the Lefroy Lithium Project
Maximus’ Lefroy Lithium Project is located in Western Australia’s Eastern Goldfields Lithium-Cesium-Tantalum Province. The company conducted a soil geochemistry sampling program covering the entire 50 square kilometre area and received assay results for Phase 1. The results expand the Lefroy soil anomaly to over 3km in strike and 1.5km in width, delineating several new target areas of strong lithium in soil anomalism.
$0.03Related Stories
Impact (ASX:IMP) hit significant REEs at ArkunOpenRadar:
Charger (ASX:CHR) powered by Rio Tinto at Lake Johnston
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.
