Maximus Resources Ltd (ASX:MXR, OTC:MXRRF) is gearing up for a 3,000-metre reverse circulation (RC) drilling campaign at Lefroy Lithium Project in Western Australia, part of a joint venture (JV) with the Korea Mine Rehabilitation and Mineral Resources Corporation (KOMIR).
The project sits in the lithium corridor of the Eastern Goldfields, some 20 kilometres south of Mineral Resources’ Mt Marion Lithium mine, which is being upgraded to increase production to 900,000 tonnes of mixed-grade spodumene concentrate per annum.
Initial exploration has revealed an extensive area of fertile shallow dipping pegmatites with rock chip samples up to 4.97% lithium and a legacy drill intersection of 2 metres at 0.6% lithium.
MXR is now leveraging a tenement-wide soil sampling program to define potential lithium-bearing pegmatites, which may be hidden under shallow cover.
Potential for “significant” lithium discovery
“We are excited to commence our lithium exploration program across the very promising Lefroy target, in partnership with KOMIR,” Maximus Resources managing director Tim Wither said.
“With the commencement of the systematic tenement-wide soil sampling program, our aim is to detect potential lithium-bearing pegmatites undercover, building a pipeline of additional Lithium drill targets.
“The upcoming drill program will initially target an extensive area of shallow-dipping outcropping pegmatites which are demonstrated to be fertile with strong (K/Rb) fraction, surrounded by an extensive lithium halo.
“With the right rocks, in the right location, and the right team advancing the project, Lefroy has all the ingredients for a significant lithium discovery.”
With final approvals in place, MXR expects to begin drilling in November, supported by a Western Australian Government Exploration Incentive Scheme (EIS) co-funding drilling grant of up to $125,000 for future diamond drilling on the project.