Maximus Resources Ltd (ASX:MXR, OTC:MXRRF) has welcomed a funding boost as it prepares for drilling of a lithium-caesium-tantalum (LCT) pegmatite swarm at the Larkinville Lithium Project by way of a State Government co-funded drilling grant.
The $102,000 grant is from round 29 of the Western Australian Government Exploration Incentive Scheme (EIS) and will support first-pass reverse circulation (RC) drilling to test the 1.3-kilometre-long and 1-kilometre-wide LCT pegmatite target.
LCT pegmatite targets
This target area is defined by strong lithium-in-soil anomalism and outcropping pegmatites with rock chip assays of up to 5.29% lithium oxide (Li2O) and the drill program will include several traverses of RC drill holes to investigate the various pegmatites of the swarm in fresh rock.
Encouragingly, the EIS grant is the full amount applied for by Maximus and contributes towards 50% of direct drilling costs.
The EIS RC drill program Program of Works has been approved by the Department of Energy, Mines, Industry Regulation and Safety (DEMIRS) with drilling expected to commence late in the current quarter.
Location of Maximus’ Larkinville Project with nearby lithium projects.
About Larkinville
Larkinville, which is 75% held by Maximus and 25% by Develop Global Ltd, is in Western Australia’s highly prospective Eastern Goldfields LCT Province about 9 kilometres south of the company’s Lefroy Lithium Project and encompassed by Marquee Resources West Spargoville Project JV with Mineral Resources.
It is not included in Maximus’ US$3 million (~A$4.6 million) Lefroy Lithium Project Joint Venture with the South Korean government agency KOMIR.
Sampling successes
Legacy rock chip sampling from a northern outcropping pegmatite returned values up to 5.29% Li2O and 2.93% rubidium.
Follow-up rock chip sampling in 2022 further confirmed lithium mineralisation with values up to 2.7% Li2O.
An external review completed by Maxiumus confirmed strong fractionation along with high concentrations of lithium, rubidium and caesium, classifying the outcropping pegmatites as an LCT-type.
In 2024, the company carried out infill soil sampling to assist in defining the most prospective areas as well as provide insight into the potential zoning of the mineralised system and define any structural trends.
While much of Larkinville is outcropping, certain parts of the project area are obscured by cover making soil sampling an integral exploration step for drill targeting.