Maximus (ASX:MXR) restarts lithium discovery efforts at Lefroy with KOMIR

Maximus (ASX:MXR) restarts lithium discovery efforts at Lefroy with KOMIR

May 22, 2024 Off By Amanda Ellis

Maximus Resources has started drilling at its Lefroy Lithium Project joint venture in Western Australia with South Korean government-owned minerals corporation KOMIR after receiving Australian Government Foreign Investment Board approval for the power-up lithium partnership.

The Eastern Goldfields operator will focus first on the headlining lithium target at the Kandui prospect.

Kandui features spodumene-dominant lithium mineralisation Maximus plans to drill test, fuelled with Korea Mine Rehabilitation and Mineral Resources Corporation’s Lefroy budget of more than $3 million.

Maximus Resources Managing Director Tim Wither said the company was excited to start the second-phase drilling program at the project, now that the Maximus-KOMIR JV had a Treasury stamp of approval.

“With the joint venture receiving approval from the Australian Government Foreign Investment Review Board (FIRB), we are excited to immediately commence a follow-up RC drill program across the very promising Kandui prospect lithium target, with our KOMIR partners,” he said.

First-phase drilling at the project drew on a smaller deposit sum for the venture, making notable discoveries such as 6 metres at 1.11 per cent lithium oxide in hole KDRC007, including 3m at 1.99% Li2O from 91m.

“The Lefroy Lithium Project has had limited drilling across an extensive swarm of 80-plus highly fractionated outcropping pegmatites, which strongly correlates to a highly elevated lithium-in-soil anomaly,” Wither said.

“Soil mapping has identified the presence of a large 3-kilometre-by-1.5-kilometre lithium-in-soil anomaly, extending from the recent discovery of spodumene-bearing pegmatites, providing encouraging signs that the lithium-in-soil anomalies may be associated with a large mineralised system, which we are just starting to drill test and understand.

“The second phase drill program is focused on expanding our recent intersection of high-grade spodumene-dominant mineralisation within a sequence of stacked shallow-dipping pegmatites, with several deeper step-out holes to test below 200 metres in depth.”

Exploration at Lefroy initially focused on outcropping pegmatites that helped highlight a large lithium soil anomaly spanning 3km by 1.5km.

First-phase drilling there detected shallow-dipping spod-dominant pegmatites.

Kandui, one of three prospect areas showing highly anomalous lithium-in-soil values, is open in all directions and now-started second-phase drilling will include 12 holes to test around 2000m, including some that will go below 200m.

Eastern-Goldfields Maximus has an additional majority-owned lithium project outside its KOMIR JV that it is progressing, along with 335,000 ounces of gold resources.

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