{"id":3189,"date":"2023-12-14T01:16:02","date_gmt":"2023-12-14T01:16:02","guid":{"rendered":"https:\/\/economicherald.net\/?p=3189"},"modified":"2023-12-14T01:16:02","modified_gmt":"2023-12-14T01:16:02","slug":"signed-sealed-delivered-maximus-completes-first-phase-of-exploration-under-komir-lithium-joint-venture","status":"publish","type":"post","link":"https:\/\/economicherald.net\/?p=3189","title":{"rendered":"Signed, sealed, delivered: Maximus completes first phase of exploration under KOMIR lithium joint venture"},"content":{"rendered":"

Maximus Resources completes ~3,200m RC drilling and soil sampling at Lefroy lithium JV in WA
\nFirst phase of exploration under US$3m Korea Mine Rehabilitation and Mineral Resources Corporation joint venture
\nDrilling intersected Continuous lithium mineralisation across ~600m x ~400m area
\nFollow-up deeper and infill drilling is planned for next year<\/p>\n

\u00a0<\/p>\n

Special Report:<\/em> Maximus Resources has completed the first phase of exploration under its US$3m Lefroy lithium project joint venture with the <\/strong>the Korea Mine Rehabilitation and Mineral Resources Corporation (KOMIR), reporting high-grade intersections of up to 1.72% Li2O.<\/strong><\/p>\n

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

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

The Lefroy project is in WA\u2019s Eastern Goldfields \u201clithium corridor\u201d, about 20km south of Mineral Resources\u2019 (ASX:MIN)<\/strong><\/a> Mt Marion lithium mine.<\/p>\n

Last month, Maximus Resources (ASX:MXR)<\/strong><\/a> confirmed spodumene in a high-grade intersection at the Kandui prospect of 6m at 1.11% Li2O including 3m at 1.99% Li2O from 91m.<\/strong><\/a><\/p>\n

Now the company has now completed a ~3,200m Reverse Circulation (RC) drill program and tenement wide soil geochemistry sampling.<\/p>\n

\u00a0<\/strong><\/p>\n

Up to 1.72% Li2O intersected<\/strong><\/h2>\n

The first phase RC drilling program was designed as a preliminary test of an extensive ~2x1km lithium soil anomaly and to step out from recently identified spodumene-bearing pegmatites at the Kandui prospect.<\/p>\n

A total of 23 of the 30 holes intersected fertile LCT pegmatites with strong fractionation, up to 18m thick. Results include:<\/p>\n

5m at 1.11% Li2O from 111m, including 3m at 1.72% Li2O from 111m (MKRC015);
\n5m at 0.77% Li2O from 59m, including 3m at 1.18% Li2O from 59m (MKRC010);
\n12m at 0.39% Li2O from 78m, including 2m at 0.87% Li2O from 78m and 3m at 0.65% Li2O from 83m (MKRC008); and
\n58m at 0.11% Li2O from 46m, including 12m at 0.25% Li2O from 66m and including 4m at 0.38 % Li2O from 58m (MKRC001).<\/p>\n

In addition, supplementary XRD mineralogy analysis has confirmed high spodumene content of up to 22%.<\/p>\n

\u201cThe company has moved quickly in completing the first phase of the Lithium exploration program, which was designed to evaluate several outcropping pegmatites within a large ~2km x ~1km lithium soil anomaly,\u201d MXR managing director Tim Wither said.<\/p>\n

\u201cThis first drill program has been a successful start, supporting our geological interpretations of a sequence of stacked pegmatites, aligning to lithium in soil anomalies and importantly providing great direction for follow-up drill programs.\u201d<\/p>\n

\u00a0<\/strong><\/p>\n

Lefroy lithium soil anomaly, outcropping pegmatite envelope and completed RC drill collars. Source: MXR.<\/p>\n

\u00a0<\/strong><\/p>\n

Follow-up drilling planned in 2024<\/strong><\/h2>\n

Initial assay results from the tenement-wide soil sampling are anticipated in 2-3 weeks, and along with soil geochemistry mapping, they\u2019re likely to deliver additional drill targets for follow-up deeper and infill drilling early next year.<\/p>\n

\u201cThe completion of the first pass drill program only covers a small area of the greater Lefroy area, and demonstrates the outstanding lithium potential, with prime geology in WA\u2019s Eastern Goldfields,\u201d Wither said.<\/p>\n

\u201cThe company has also completed the fieldwork component of the tenement-wide soil geochemistry program, which is expected to deliver additional drill targets.<\/p>\n

\u201cBoth the soil geochemistry mapping and the first-phase drill program are utilising the non-refundable deposit from KOMIR, with the larger program to commence in early 2024.\u201d<\/p>\n

Wither said the shallow first pass has already highlighted consistent lithium grades across a large ~600x400m area with multiple intersected pegmatites, which remain open down dip and untested at depths greater than ~100m.<\/p>\n

\u201cThe next phase of drilling is expected to commence in early 2024 and will focus on extension and testing at depth,\u201d he said.<\/p>\n

The company also expects to receive approval from the Australian Foreign Investment Review Board (FIRB) during the March Quarter, which will enable the commencement of larger drill programs.<\/p>\n

\u00a0<\/p>\n\n

\ufeff<\/span>\u00a0<\/p>\n

This article was developed in collaboration with Maximus Resources, a Stockhead advertiser at the time of publishing.<\/em><\/p>\n

\u00a0<\/p>\n

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.<\/em><\/p>\n

<\/span><\/p>\n

The post Signed, sealed, delivered: Maximus completes first phase of exploration under KOMIR lithium joint venture<\/a> appeared first on Stockhead<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

Maximus Resources completes ~3,200m RC drilling and soil sampling at Lefroy lithium JV in WA First phase of exploration under US$3m Korea Mine Rehabilitation and [more…]<\/a><\/p>\n","protected":false},"author":0,"featured_media":3190,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-3189","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance"],"yoast_head":"\nSigned, sealed, delivered: Maximus completes first phase of exploration under KOMIR lithium joint venture - Economic Herald<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/economicherald.net\/?p=3189\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Signed, sealed, delivered: Maximus completes first phase of exploration under KOMIR lithium joint venture - Economic Herald\" \/>\n<meta property=\"og:description\" content=\"Maximus Resources completes ~3,200m RC drilling and soil sampling at Lefroy lithium JV in WA First phase of exploration under US$3m Korea Mine Rehabilitation and [more...]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/economicherald.net\/?p=3189\" \/>\n<meta property=\"og:site_name\" content=\"Economic Herald\" \/>\n<meta property=\"article:published_time\" content=\"2023-12-14T01:16:02+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/economicherald.net\/wp-content\/uploads\/2023\/12\/MXR-Hero-Pic-3-1-YSUsfz.jpeg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"675\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data1\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/economicherald.net\\\/?p=3189#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/economicherald.net\\\/?p=3189\"},\"author\":{\"name\":\"\",\"@id\":\"\"},\"headline\":\"Signed, sealed, delivered: Maximus completes first phase of exploration under KOMIR lithium joint venture\",\"datePublished\":\"2023-12-14T01:16:02+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/economicherald.net\\\/?p=3189\"},\"wordCount\":727,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\\\/\\\/economicherald.net\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/economicherald.net\\\/?p=3189#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/economicherald.net\\\/wp-content\\\/uploads\\\/2023\\\/12\\\/MXR-Hero-Pic-3-1-YSUsfz.jpeg\",\"articleSection\":[\"Finance\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/economicherald.net\\\/?p=3189#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/economicherald.net\\\/?p=3189\",\"url\":\"https:\\\/\\\/economicherald.net\\\/?p=3189\",\"name\":\"Signed, sealed, delivered: Maximus completes first phase of exploration under KOMIR lithium joint venture - Economic Herald\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/economicherald.net\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/economicherald.net\\\/?p=3189#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/economicherald.net\\\/?p=3189#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/economicherald.net\\\/wp-content\\\/uploads\\\/2023\\\/12\\\/MXR-Hero-Pic-3-1-YSUsfz.jpeg\",\"datePublished\":\"2023-12-14T01:16:02+00:00\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/economicherald.net\\\/?p=3189#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/economicherald.net\\\/?p=3189\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/economicherald.net\\\/?p=3189#primaryimage\",\"url\":\"https:\\\/\\\/economicherald.net\\\/wp-content\\\/uploads\\\/2023\\\/12\\\/MXR-Hero-Pic-3-1-YSUsfz.jpeg\",\"contentUrl\":\"https:\\\/\\\/economicherald.net\\\/wp-content\\\/uploads\\\/2023\\\/12\\\/MXR-Hero-Pic-3-1-YSUsfz.jpeg\",\"width\":1200,\"height\":675},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/economicherald.net\\\/?p=3189#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/economicherald.net\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Signed, sealed, delivered: Maximus completes first phase of exploration under KOMIR lithium joint venture\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/economicherald.net\\\/#website\",\"url\":\"https:\\\/\\\/economicherald.net\\\/\",\"name\":\"Economic Herald\",\"description\":\"\",\"publisher\":{\"@id\":\"https:\\\/\\\/economicherald.net\\\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/economicherald.net\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\\\/\\\/economicherald.net\\\/#organization\",\"name\":\"Economic Herald\",\"url\":\"https:\\\/\\\/economicherald.net\\\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/economicherald.net\\\/#\\\/schema\\\/logo\\\/image\\\/\",\"url\":\"https:\\\/\\\/economicherald.net\\\/wp-content\\\/uploads\\\/2023\\\/10\\\/cropped-cropped-economicheraldlogo-1.png\",\"contentUrl\":\"https:\\\/\\\/economicherald.net\\\/wp-content\\\/uploads\\\/2023\\\/10\\\/cropped-cropped-economicheraldlogo-1.png\",\"width\":850,\"height\":760,\"caption\":\"Economic Herald\"},\"image\":{\"@id\":\"https:\\\/\\\/economicherald.net\\\/#\\\/schema\\\/logo\\\/image\\\/\"}}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Signed, sealed, delivered: Maximus completes first phase of exploration under KOMIR lithium joint venture - Economic Herald","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/economicherald.net\/?p=3189","og_locale":"en_US","og_type":"article","og_title":"Signed, sealed, delivered: Maximus completes first phase of exploration under KOMIR lithium joint venture - Economic Herald","og_description":"Maximus Resources completes ~3,200m RC drilling and soil sampling at Lefroy lithium JV in WA First phase of exploration under US$3m Korea Mine Rehabilitation and [more...]","og_url":"https:\/\/economicherald.net\/?p=3189","og_site_name":"Economic Herald","article_published_time":"2023-12-14T01:16:02+00:00","og_image":[{"width":1200,"height":675,"url":"https:\/\/economicherald.net\/wp-content\/uploads\/2023\/12\/MXR-Hero-Pic-3-1-YSUsfz.jpeg","type":"image\/jpeg"}],"twitter_card":"summary_large_image","twitter_misc":{"Est. reading time":"4 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/economicherald.net\/?p=3189#article","isPartOf":{"@id":"https:\/\/economicherald.net\/?p=3189"},"author":{"name":"","@id":""},"headline":"Signed, sealed, delivered: Maximus completes first phase of exploration under KOMIR lithium joint venture","datePublished":"2023-12-14T01:16:02+00:00","mainEntityOfPage":{"@id":"https:\/\/economicherald.net\/?p=3189"},"wordCount":727,"commentCount":0,"publisher":{"@id":"https:\/\/economicherald.net\/#organization"},"image":{"@id":"https:\/\/economicherald.net\/?p=3189#primaryimage"},"thumbnailUrl":"https:\/\/economicherald.net\/wp-content\/uploads\/2023\/12\/MXR-Hero-Pic-3-1-YSUsfz.jpeg","articleSection":["Finance"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/economicherald.net\/?p=3189#respond"]}]},{"@type":"WebPage","@id":"https:\/\/economicherald.net\/?p=3189","url":"https:\/\/economicherald.net\/?p=3189","name":"Signed, sealed, delivered: Maximus completes first phase of exploration under KOMIR lithium joint venture - Economic Herald","isPartOf":{"@id":"https:\/\/economicherald.net\/#website"},"primaryImageOfPage":{"@id":"https:\/\/economicherald.net\/?p=3189#primaryimage"},"image":{"@id":"https:\/\/economicherald.net\/?p=3189#primaryimage"},"thumbnailUrl":"https:\/\/economicherald.net\/wp-content\/uploads\/2023\/12\/MXR-Hero-Pic-3-1-YSUsfz.jpeg","datePublished":"2023-12-14T01:16:02+00:00","breadcrumb":{"@id":"https:\/\/economicherald.net\/?p=3189#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/economicherald.net\/?p=3189"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/economicherald.net\/?p=3189#primaryimage","url":"https:\/\/economicherald.net\/wp-content\/uploads\/2023\/12\/MXR-Hero-Pic-3-1-YSUsfz.jpeg","contentUrl":"https:\/\/economicherald.net\/wp-content\/uploads\/2023\/12\/MXR-Hero-Pic-3-1-YSUsfz.jpeg","width":1200,"height":675},{"@type":"BreadcrumbList","@id":"https:\/\/economicherald.net\/?p=3189#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/economicherald.net\/"},{"@type":"ListItem","position":2,"name":"Signed, sealed, delivered: Maximus completes first phase of exploration under KOMIR lithium joint venture"}]},{"@type":"WebSite","@id":"https:\/\/economicherald.net\/#website","url":"https:\/\/economicherald.net\/","name":"Economic Herald","description":"","publisher":{"@id":"https:\/\/economicherald.net\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/economicherald.net\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/economicherald.net\/#organization","name":"Economic Herald","url":"https:\/\/economicherald.net\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/economicherald.net\/#\/schema\/logo\/image\/","url":"https:\/\/economicherald.net\/wp-content\/uploads\/2023\/10\/cropped-cropped-economicheraldlogo-1.png","contentUrl":"https:\/\/economicherald.net\/wp-content\/uploads\/2023\/10\/cropped-cropped-economicheraldlogo-1.png","width":850,"height":760,"caption":"Economic Herald"},"image":{"@id":"https:\/\/economicherald.net\/#\/schema\/logo\/image\/"}}]}},"_links":{"self":[{"href":"https:\/\/economicherald.net\/index.php?rest_route=\/wp\/v2\/posts\/3189","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/economicherald.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/economicherald.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/economicherald.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=3189"}],"version-history":[{"count":0,"href":"https:\/\/economicherald.net\/index.php?rest_route=\/wp\/v2\/posts\/3189\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/economicherald.net\/index.php?rest_route=\/wp\/v2\/media\/3190"}],"wp:attachment":[{"href":"https:\/\/economicherald.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=3189"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/economicherald.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=3189"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/economicherald.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=3189"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}