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Maximus Resources Ltd (ASX:MXR) has initiated a reverse circulation (RC) drilling program at the Bird Rock and Kandui lithium prospects near Kambalda in Western Australia, as part of the Lefroy Lithium Joint Venture (JV) with Korea Mine Rehabilitation and Mineral Resources Corporation (KOMIR).
The 14-hole RC drilling campaign, covering approximately 1,500 meters, includes maiden drilling of nine holes at Bird Rock to test newly identified spodumene-bearing pegmatites. It also encompasses five holes at the advanced Kandui prospect to continue assessing the mineralization continuity following updated geological modeling. This program is anticipated to be completed within two weeks, with assay results expected in 3-6 weeks after sample submission.
Lefroy Project Overview
The Lefroy Project is situated in the Eastern Goldfields Lithium-Caesium-Tantalum (LCT) Province of Western Australia, near Mineral Resources' Mt Marion Lithium mine. Following the receipt of Lefroy soil geochemical results, Maximus completed an initial ground reconnaissance of areas with elevated lithium-in-soil, leading to the discovery of pegmatites with coarse spodumene crystals at Bird Rock.
Drilling at Bird Rock
Due to soil cover, the pegmatite at Bird Rock was previously undetected, emphasizing the value of detailed soil geochemistry mapping. The nine-hole maiden drill program aims to determine the pegmatite's orientation and if successful, will include additional step-out drilling.
Advancements at Kandui
At Kandui, initial drilling revealed several spodumene-dominant pegmatites over a significant area. Subsequent drilling confirmed these pegmatites to be fertile, with elevated levels of lithium, tantalum, and caesium, indicating promising spodumene mineralization. Although some lithium grades and intervals did not meet initial expectations, the drilling demonstrated the potential for discovering higher-grade zones within the Kandui prospect.
Third-Phase Drilling
The third-phase drilling will follow refined geological modeling to explore areas identified as having significant lithium grades. Kandui remains a high-priority target, with all pegmatites open in all directions.
Joint Venture Details
Upon receipt of drill results, the annual report for the Lefroy Lithium JV will be finalized, with a site visit by KOMIR planned for October. Under the JV agreement, KOMIR is committed to funding US$3 million (~A$4.8 million) for lithium exploration activities to acquire a 30% interest in the lithium mineral rights across the Lefroy tenements. KOMIR is required to fund a minimum of US$1 million (~A$1.6 million) in the first 12 months. Should KOMIR withdraw from the JV, all lithium mineral rights will revert to Maximus.
