Assays from phase 1 drilling are expected in 3-4 weeks. Pic: via Getty Images.
Mining
Special Report: Maximus Resources has identified spodumene as the dominant lithium-bearing mineral from recent Reverse Circulation (RC) drilling at the Kandui prospect, part of the Lefroy lithium project in WA.
Kandui lies within the greater Lefroy project, in WA’s Eastern Goldfields ‘lithium corridor’, ~20km south of Mineral Resources’ (ASX:MIN) Mt Marion Lithium mine.
Maximus Resources (ASX:MXR) began systematic exploration at Lefroy under the US$3 million (~A$4.8m) joint venture with the Korea Mine Rehabilitation and Mineral Resources Corporation (KOMIR) announced earlier this month.
KOMIR is a Korean Government agency responsible for their national resource security, including developing overseas mining and processing capacity to supply the Korean market.
The company also has a separate MOU with global battery manufacturer LG Energy Solution, providing an option to acquire KOMIR’s 30% interest, and the right to negotiate the purchase of up to 70% of the project’s future lithium product.
Now, spodumene mineralisation has been confirmed in a recently reported high-grade lithium intersection at the Kandui prospect of 6m at 1.11% Li2O including 3m at 1.99% Li2O from 91m (KDRC007).
The company’s first phase wide-spaced drill program is now nearing completion, with assay results expected in 3-4 weeks.
Reverse Circulation drill samples from the KDRC007 intersection have been submitted for RAMAN spectroscopy analysis, which uses a laser light to analyse chemical structure, composition and mineralogy.
This analysis is then compared to a batch of control spodumene samples.
The analysis confirmed the entire pegmatite interval is mineralised, observing spodumene with minor traces of mica minerals.
Maximus management says this confirmation demonstrates the project’s potential to host a significant lithium-caesium-tantalum (LCT) pegmatite mineral system.
“This is a significant advancement for the Lefroy lithium project, confirming the high-grade lithium intersection at Kandui is completely mineralised with spodumene,” Maximus managing director Tim Wither said.
“This previously hidden pegmatite has a strong up-dip correlation to an extensive +100ppm lithium soil anomaly, highlighting the opportunity for additional lithium-bearing pegmatites to be discovered.”
Tenement-wide soil sampling is progressing and is around 50% complete, with the aim of delivering additional drill targets.
Soil geochemistry sampling has proven to be an effective method for detecting concealed or previously unknown areas of lithium-bearing pegmatites due to the shallow cover in the region.
Meanwhile, the company is planning a larger drill program next year.
“Maximus has moved quickly following the execution of the KOMIR Joint Venture, commencing a tenement-wide soil sampling program aimed at building a pipeline of additional drill targets,” Wither said.
“The first phase ~3,000m drill program, is nearing completion and testing known pegmatites and an extensive 2km x 1km lithium soil anomaly.
“The current program is utilising the KOMIR Joint Venture non-refundable deposit, with the larger program scheduled to commence in early 2024.”
This article was developed in collaboration with Maximus Resources, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.
Mining
Mining
Mining
Mining
Mining
Mining
Get the latest Stockhead news delivered free to your inbox.
