{"id":1951,"date":"2023-11-21T02:41:23","date_gmt":"2023-11-21T02:41:23","guid":{"rendered":"https:\/\/economicherald.net\/?p=1951"},"modified":"2023-11-21T02:41:23","modified_gmt":"2023-11-21T02:41:23","slug":"maximus-reels-in-spodumene-at-lefroy-lithium-project","status":"publish","type":"post","link":"https:\/\/economicherald.net\/?p=1951","title":{"rendered":"Maximus reels in spodumene at Lefroy lithium project"},"content":{"rendered":"<p>Maximus Resources has confirmed spodumene at its Lefroy lithium project in WA<br \/>\nThe project is under a joint venture with KOMIR to spend US$3m for a 30% stake<br \/>\nSpodumene means the project could host a Lithium-Caesium-Tantalum pegmatite mineral system<br \/>\nFirst phase drilling nearing completion with assays pending<\/p>\n<p>\u00a0<\/p>\n<p><strong><em>Special Report:<\/em> Maximus Resources<\/strong> <strong>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.<\/strong><\/p>\n<p>Kandui lies within the greater Lefroy project, in WA\u2019s Eastern Goldfields \u2018lithium corridor\u2019, ~20km south of Mineral Resources\u2019 (ASX:MIN) Mt Marion Lithium mine.<\/p>\n<p><a href=\"https:\/\/stockhead.com.au\/company\/maximus-resources-mxr\/\"><strong>Maximus Resources (ASX:MXR)<\/strong><\/a> began systematic exploration at Lefroy under the US$3 million (~A$4.8m) <a href=\"https:\/\/stockhead.com.au\/resources\/maximus-and-its-korean-jv-partner-begin-quest-to-find-the-next-mt-marion-lithium-mine\/\"><strong>j<\/strong><strong>oint<\/strong> <strong>v<\/strong><strong>enture with the Korea Mine Rehabilitation and Mineral Resources Corporation<\/strong><\/a> (KOMIR) announced earlier this month.<\/p>\n<p>KOMIR is a Korean Government agency responsible for their national resource security, including developing overseas mining and processing capacity to supply the Korean market.<\/p>\n<p>The company also has a separate MOU with global battery manufacturer LG Energy Solution, providing an option to acquire KOMIR\u2019s 30% interest, and the right to negotiate the purchase of up to 70% of the project\u2019s future lithium product.<\/p>\n<p>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).<\/p>\n<p>\u00a0<\/p>\n<p>RC drill chips showing KDRC007 pegmatite intercept. Pic via Maximus<\/p>\n<p><strong>\u00a0<\/strong><\/p>\n<h2><strong>Spodumene means LCT system potential<\/strong><\/h2>\n<p>The company\u2019s first phase wide-spaced drill program is now nearing completion, with assay results expected in 3-4 weeks.<\/p>\n<p>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.<\/p>\n<p>This analysis is then compared to a batch of control spodumene samples.<\/p>\n<p>The analysis confirmed the entire pegmatite interval is mineralised, observing spodumene with minor traces of mica minerals.<\/p>\n<p>Maximus management says this confirmation demonstrates the project\u2019s potential to host a significant lithium-caesium-tantalum (LCT) pegmatite mineral system.<\/p>\n<p>\u201cThis is a significant advancement for the Lefroy lithium project, confirming the high-grade lithium intersection at Kandui is completely mineralised with spodumene,\u201d Maximus managing director Tim Wither said.<\/p>\n<p>\u201cThis 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.\u201d<\/p>\n<p>\u00a0<\/p>\n<p>Cross-section looking northeast of RC drill hole KDRC007 with mapped shallow dipping pegmatites. Pic via Maximus<\/p>\n<p><strong>\u00a0<\/strong><\/p>\n<h2><strong>More drilling planned for 2024<\/strong><\/h2>\n<p>Tenement-wide soil sampling is progressing and is around 50% complete, with the aim of delivering additional drill targets.<\/p>\n<p>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.<\/p>\n<p>Meanwhile, the company is planning a larger drill program next year.<\/p>\n<p>\u201cMaximus 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,\u201d Wither said.<\/p>\n<p>\u201cThe first phase ~3,000m drill program, is nearing completion and testing known pegmatites and an extensive 2km x 1km lithium soil anomaly.<\/p>\n<p>\u201cThe current program is utilising the KOMIR Joint Venture non-refundable deposit, with the larger program scheduled to commence in early 2024.\u201d<\/p>\n<p>\u00a0<\/p>\n<p>Location plan of KDRC007, Lefroy lithium soil anomaly and outcropping pegmatite envelope. Pic via Maximus<\/p>\n<p>\u00a0<\/p>\n\n<p><span class=\"mce_SELRES_start\">\ufeff<\/span>\u00a0<\/p>\n<p><em>This article was developed in collaboration with Maximus Resources, a Stockhead advertiser at the time of publishing. <\/em><\/p>\n<p><em>\u00a0<\/em><\/p>\n<p><em>This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.<\/em><\/p>\n<p><span class=\"et_bloom_bottom_trigger\"><\/span><\/p>\n<p>The post <a href=\"https:\/\/stockhead.com.au\/resources\/maximus-reels-in-spodumene-at-lefroy-lithium-project\/\">Maximus reels in spodumene at Lefroy lithium project<\/a> appeared first on <a href=\"https:\/\/stockhead.com.au\/\">Stockhead<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"<p>Maximus Resources has confirmed spodumene at its Lefroy lithium project in WA The project is under a joint venture with KOMIR to spend US$3m for <a href=\"https:\/\/economicherald.net\/?p=1951\" class=\"read-more-link\">[more&#8230;]<\/a><\/p>\n","protected":false},"author":0,"featured_media":1952,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-1951","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - 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