Proactive’s Tylah Tully breaks down ‘Just the Facts’ of the latest news from Maximus Resources Ltd.
Maximus has commenced a Reverse Circulation (RC) drilling program at the Lefroy Lithium Project in Western Australia.
The drilling targets spodumene-bearing pegmatites at the Bird Rock and Kandui lithium prospects.
This follows Korea Mine Rehabilitation and Mineral Resources Corporation’s (KOMIR) decision to continue its farm-in agreement until 2026.
In November 2024, Maximus announced previous drill results at Bird Rock, including 5 metres at 1.81% Li₂O from 101 metres and 5 metres at 1.45% Li₂O from 95 metres.
At Kandui, multiple spodumene-bearing pegmatites have been identified over a 2 kilometres by 1.5 kilometres target area, with previous intersections including 6 metres at 2.23% Li₂O from 26 metres.
The RC drilling program is expected to be completed in three weeks, with assay results anticipated within three to six weeks.
KOMIR is investing USD$3 million to earn a 30% interest in the project, having already fulfilled an initial USD$1 million commitment. The remaining USD$2 million will be invested over the next two years.