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Highlights
- Maximus Resources (MXR) confirms KOMIR's ongoing commitment to Lefroy Lithium Project.
- Exploration continues to show promising spodumene mineralization at Kandui and Bird Rock prospects.
- Partnership to leverage geophysics and advanced modeling for targeted exploration in 2025.
Maximus Resources (ASX:MXR) has announced continued support from Korea Mine Rehabilitation and Mineral Resources Corporation (KOMIR) for the Lefroy Lithium Project. KOMIR has reaffirmed its commitment to the farm-in agreement, ensuring funding through 2026. This collaboration reflects a strong partnership and further validation of the project's potential in Western Australia.
Under the terms of the farm-in agreement, KOMIR is set to invest the remaining US$2 million over the next two years. This contribution will enable KOMIR to secure a 30% interest in the joint venture. The funds will focus on advancing exploration activities at the Lefroy Lithium Project, targeting high-potential areas for spodumene mineralization.
Progress at Kandui and Bird Rock Prospects
Exploration efforts during the first year of the partnership have yielded significant results, particularly at the Kandui prospect. Spodumene mineralization has been consistently identified across an expansive area measuring two kilometers by one kilometer. Additionally, promising outcomes have been reported at the recently discovered Bird Rock prospect, further diversifying the project's growth opportunities.
Two advanced lithium targets have now been identified within the Lefroy Project, showcasing the collaboration's effectiveness. Maximus Resources’ Managing Director, Tim Withers, emphasized the progress made during the partnership, noting that exploration began without any spodumene intersections but has since uncovered advanced targets at Kandui and Bird Rock.
Future Exploration Plans
Maximus Resources and KOMIR are set to continue their exploration activities with a strategic focus on geophysics and advanced modeling. Plans for 2025 include utilizing additional geophysics data to identify potential thicker zones of known pegmatites. A high-resolution aerial magnetic survey is scheduled for early 2025 to refine drill targeting, enhancing the project's precision and potential.
The partnership is not only a testament to the strength of Maximus Resources’ lithium prospects but also an opportunity to leverage KOMIR’s expertise in mineral exploration. With continued advancements, the Lefroy Lithium Project is well-positioned for future growth.
Maximus Resources (MXR) remains committed to driving exploration success while strengthening its strategic alliances to unlock the full potential of the Lefroy Lithium Project.
