{"id":7497,"date":"2024-03-20T03:06:23","date_gmt":"2024-03-20T03:06:23","guid":{"rendered":"https:\/\/economicherald.net\/?p=7497"},"modified":"2024-03-20T03:06:23","modified_gmt":"2024-03-20T03:06:23","slug":"lord-resources-gallops-ahead-on-horse-rocks-strategic-partnership-with-mineral-resources","status":"publish","type":"post","link":"https:\/\/economicherald.net\/?p=7497","title":{"rendered":"Lord Resources gallops ahead on Horse Rocks strategic partnership with Mineral Resources"},"content":{"rendered":"<p>Mineral Resources is farming into Lord Resources\u2019 Horse Rocks lithium project<br \/>\nHorse Rocks is just 8km from Mineral Resources\u2019 Mt Marion lithium mine,<br \/>\nPrevious exploration completed by Lord has identified multiple stacked LCT pegmatites that display extensive fractionation<br \/>\nFurther farm-in stages allow MinRes to increase its stake up to 85%<\/p>\n<p>\u00a0<\/p>\n<p><strong><em>Special Report:<\/em> Lord Resources has received a clear vote of confidence for its Horse Rocks lithium project from mining heavyweight Mineral Resources, which has executed a farm-in agreement to earn 40% of the WA asset.<\/strong><\/p>\n<p>Horse Rocks is within 8km of\u00a0<a href=\"https:\/\/stockhead.com.au\/company\/mineral-resources-min\/\"><strong>Mineral Resources\u2019 (ASX: MIN)<\/strong><\/a>\u00a0operating Mt Marion lithium mine, which is almost certainly one of the reasons behind the farm-in decision.<\/p>\n<p>It is also close to MinRes\u2019 recently acquired Bald Hill lithium mine and processing plant and <a href=\"https:\/\/stockhead.com.au\/company\/liontown-resources-ltr\/\"><strong>Liontown Resources\u2019 (ASX:LTR)<\/strong><\/a> undeveloped Buldania project, a clear indicator the project is within potential \u201cworld-class\u201d lithium territory.<\/p>\n<p>Maiden drilling by <a href=\"https:\/\/stockhead.com.au\/company\/lord-resources-lrd\/\"><strong>Lord Resources (ASX:LRD)<\/strong><\/a> in August 2023 intersected fine-grained weathered spodumene while Phase 2 reverse circulation drilling supports the idea that a larger spodumene-dominated target could be nearby.<\/p>\n<p>The latter drilling also found that <a href=\"https:\/\/stockhead.com.au\/resources\/lord-rides-high-in-the-saddle-chasing-fractionated-pegmatites-at-horse-rocks\/\"><strong>pegmatite fractionation<\/strong><\/a> \u2013 an indicator that lithium is present \u2013 in multiple stacked pegmatite swarms increases to the northwest of the site outwards from the source granite and in an unexplored area.<\/p>\n<p>Investors clearly were in favour of the agreement with shares in LRD up +115% this morning to 11c.<\/p>\n<p>\u00a0<\/p>\n\n<p>Lord\u2019s Horse Rocks and Jingiing lithium projects. Pic: Supplied (LRD)<\/p>\n<p>\u00a0<\/p>\n<p>\u00a0<\/p>\n<h2><strong>Exploration farm-in<\/strong><\/h2>\n<p>These results \u2013 and possibly the proximity to Mt Marion \u2013 led MinRes to execute the farm-in agreement which will see the major spend $1 million on exploration to earn an initial 40% interest in the Horse Rocks project.<\/p>\n<p>LRD says the strategic partnership will build on previous exploration it had completed to advance the project through non-dilutive financing.<\/p>\n<p>It also allows the company to maintain exposure to a high-value project while ramping up exploration on its Jingjing lithium project.<\/p>\n<p>\u201cWe are extremely excited to secure a strategic partnership with MinRes,\u201d LRD managing director Barnaby Egerton-Warburton said.<\/p>\n<p>\u201cThe agreement validates the strong work Lord has already completed at the Horse Rocks lithium project and provides the opportunity to collaborate with a world-class exploration team drawing on their knowledge and expertise of this highly prospective lithium region.<\/p>\n<p>\u201cWe also look forward to ramping up exploration at our Jingjing lithium project, which will provide a two-headed lithium exploration strategy.\u201d<\/p>\n<p>\u00a0<\/p>\n<h2><strong>Further investment<\/strong><\/h2>\n<p>Should MinRes complete this initial investment, it will have the option to further increase its stake through a further two farm-in stages.<\/p>\n<p>Stage 2 will see the creation of a joint venture and allow MinRes to increase its interest in Horse Rocks by a further 30% through funding another $5 million in exploration.<\/p>\n<p>Under the final stage, MinRes can earn another 15% by funding expenditure through to a decision to mine.<\/p>\n<p>Once the Stage 3 farm-in is completed, LRD will have the option to remain in the joint venture and contribute its 15% share of future costs, or convert its interest into a 1.5% royalty.<\/p>\n<p>\u00a0<\/p>\n\n<p><span class=\"mce_SELRES_start\">\ufeff<\/span>\u00a0<\/p>\n<p>\u00a0<\/p>\n<p><em>This article was developed in collaboration with Lord 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\/lord-resources-gallops-ahead-on-horse-rocks-strategic-partnership-with-mineral-resources\/\">Lord Resources gallops ahead on Horse Rocks strategic partnership with Mineral Resources<\/a> appeared first on <a href=\"https:\/\/stockhead.com.au\/\">Stockhead<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"<p>Mineral Resources is farming into Lord Resources\u2019 Horse Rocks lithium project Horse Rocks is just 8km from Mineral Resources\u2019 Mt Marion lithium mine, Previous exploration <a href=\"https:\/\/economicherald.net\/?p=7497\" class=\"read-more-link\">[more&#8230;]<\/a><\/p>\n","protected":false},"author":0,"featured_media":7498,"comment_status":"","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-7497","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.7 - 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