💙 🔷 Not impressed by Big Tech in Q3? Explore these Blue Chip Bargains insteadUnlock them all

Maximus Resources discovers lithium in pegmatites up to 1.76% at Larkinville

Published 22/07/2024, 12:15 pm
Maximus Resources discovers lithium in pegmatites up to 1.76% at Larkinville

Maximus Resources Ltd (ASX:MXR, OTC:MXRRF) has confirmed the presence of spodumene-bearing lithium-caesium-tantalum (LCT) pegmatites at the Larkinville Lithium Project in Western Australia after field mapping revealed rock chip samples assaying up to 1.76% lithium oxide.

The company has identified a large pegmatite swarm stretching 1.2 kilometres long and 1.4 kilometres wide using high-resolution drone surveys and a previously reported soil geochemistry mapping program.

Soil sampling highlighted lithium levels of more than 20 times typical background results, averaging more than 200 parts per million (ppm) with peak values up to 593 ppm.

Rock chip samples

The reconnaissance team observed coarse spodumene crystals up to 6 centimetres in length within the rock chip samples, which appear to account for about 20% of the rock’s total composition.

Rock chip samples of note - 1.76% lithium, 1.48% lithium, 1.46% lithium, 1.32% lithium and 1.29% lithium.

Geology map of the Larkinville project area, showing topographical contours, soil anomalies, mapped pegmatites, and the latest rock chip results.

Maximus’ team will continue its fieldwork programs, including geological mapping, infill soil sampling and outcrop sampling at several priority targets throughout the project.

Drilling planned

The company has also secured approval for a program of works in the third quarter this calendar year, co-funded by an EIS drilling grant of $102,000.

A drilling program will include several traverses of reverse circulation (RC) drill holes as a first-pass reconnaissance program investigating the various pegmatites within the swarm.

Read more on Proactive Investors AU

Disclaimer

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.