Maximus Resources Limited (ASX: MXR) has defined a number of high-priority lithium targets at its Lefroy Lithium Project joint venture with the South Korean Government mining corporation KOMIR, on receiving assay results from the first phase of a project-wide soil geochemistry programme.
Maximus owns 100% of the Lefroy Lithium Project, with KOMIR able to have a stake of up to 30% by spending up to US$3M, with Maximus retaining management of the project.
Managing director, Tim Wither, said, “These initial results from the first phase of the project-wide soil sampling campaign have defined a significant anomalous lithium trend over 5km in length, allowing us to set high-priority drill targets at the Lefroy Lithium project. The presence of a large 3km x 1.5km lithium-in-soil anomaly, extending from the recent discovery of spodumene bearing pegmatites, provides more encouraging signs that the lithium-in-soil anomalies may be associated with a very large mineralized system.”
The company has reported strong correlation between highly elevated lithium-in-soil anomalies and recent spodumene bearing pegmatite intersections up to 6m @ 1.11% Li2O, including 3m @ 1.99% Li2O from 91m.
Additionally, Maximus completed further sampling at Lefroy’s northern Yilmia target which has revealed a strong lithium-in-soil trend, with peak values of 423ppm Li2O.
The company anticipates receiving the Phase 2 and 3 soil sampling assay results during the current quarter and expects these results to deliver additional drill targets in the southern areas of the Lefroy Lithium Project tenement package.
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