Maximus (ASX:MXR) granted WA co-funding for Larkinville lithium

Maximus (ASX:MXR) granted WA co-funding for Larkinville lithium

April 30, 2024 Off By Jack Baker

Maximus Resources has the backing from the Western Australian Government to the tune of $102,000 to puncture a large lithium-caesium-tantalum target at its Larkinville project in the Eastern Goldfields.

The area of attention is a 900-by-800-metre soil anomaly with peak values of 593 parts per million lithium oxide and rock chips holding up to 5.3 per cent lithium oxide.

The anomaly correlates with multiple outcropping pegmatites and magnetic low features and presents in a lithium-rich region largely under the control of the Mineral Resources (ASX:MIN) banner.

MinRes’ eminent Bald Hill and Mt Marion projects are both nearby, and the major lithium power has also established regional joint venture deals with both Marquee Resources (ASX:MQR) and Dynamic Metals (ASX:DYM).

Maximus’ majority-owned Larkinville JV with Develop Global (ASX:DVP) is encompassed by the Marquee-MinRes JV and sits about 10 kilometres to the south of its separate $4.6 million deal in place with a South Korean government agency at Lefroy.

The anomaly sits within a 1.3km-by-1km wide LCT pegmatite swarm uncovered at Larkinville, and a campaign is approved to investigate various ends with several traverses of reverse cycle drilling late in the June quarter of 2024.

WA government cash from the Department of Energy, Mines, Industry Regulation and Safety-run state Exploration Incentive Scheme is the full amount Maximus asked for and will pay for about half of the direct drilling costs.

Maximus also has drilling planned for another priority LCT target uncovered at Lefroy, and it expects the next phases of soil mapping to be returned over the coming months and deliver additional drill targets.

A third planned Mineral Resources processing hub in the Goldfields will be the first to include flotation capacity to treat fines and is intended to serve not only Bald Hill and Mt Marion but fresh regional discoveries and third-party ore in exchange for equity.

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. 

MO and CI logo redraw Socials Profile reversed

MarketOpen is an online media business connecting companies and investors. Through its flagship media channel the Australian publisher’s experienced journalists cover breaking news and analysis on mining, oil and gas, technology and biotechnology companies listed on the Australian Securities Exchange and other markets. MarketOpen’s video and podcasting channels feature original interviews with Australia’s small-cap corporate leaders, while its Stock Soirée networking events, Watchlist webinars, and online events connect investors and brokers with CEOs and board members. The publisher also offers a suite of agency services to its corporate members, including media, video, podcasting and social media services, along with writing, editing, reviewing and content creation services.

Contact info

Suite 3, 47 Havelock Street
West Perth WA 6005

Stewart Walters
Managing Director
+61 414 644 166

Amanda Ellis
+61 438 003 868

Important links

Follow us