Maximus Resources Ltd (ASX:MXR, OTC:MXRRF) has warmly received confirmation from the Korea Mine Rehabilitation and Mineral Resources Corporation (KOMIR) that it will continue to invest in the Lefroy Lithium Project under a farm-in agreement.
The agreement will continue until at least 2026, with KOMIR funding the remaining US$2 million over the next two years to earn a 30% interest in the joint venture (JV).
Exploration undertaken during the first year of exploration at Lefroy has consistently delivered spodumene mineralisation across the large Kandui prospect over an area of 2 kilometres by 1 kilometre and at the newly discovered Bird Rock prospect.
Two advanced lithium targets
“We are very pleased to continue the successful exploration programs that the KOMIR partnership has completed to date and look forward to what the next two years can deliver,” Maximus Resources managing director Tim Withers.
“We started the partnership with no known spodumene intersection and now we have two advanced targets, with the Kandui target consistently delivering results over a significant area.
“The 2025 programs will utilise additional geophysics data and advanced modelling targeting areas for potential thicker zones of the known pegmatites.
“This is a significant partnership for the company, allowing Maximus to tap into KOMIR expertise and is a strong endorsement of Maximus’ lithium prospects.”
Maximus and KOMIR will continue to advance exploration drilling programs at the Kandui and Bird Rock prospects, with a high-resolution aerial magnetic survey scheduled for early 2025 to assist in drill targeting.