Maximus Resources secures partnership to advance Lefroy lithium project
October 16, 2023 at 11:01 pm
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Maximus Resources Ltd (ASX:MXR, OTC:MXRRF) MD Tim Wither tells Proactive the company has formed a strategic lithium partnership with the Korea Mine Rehabilitation and Mineral Resources Corporation (KOMIR) in regards to its Lefroy Lithium Project in the “lithium corridor” of the Eastern Goldfields in Western Australia. The Korean government agency has agreed to fund US$3 million (A$4.8 million) of lithium exploration to earn 30% interest in a lithium joint venture across the Lefroy Lithium Project, which is about 20 kilometres south of Mineral Resources Ltd (ASX:MIN)’s Mt Marion lithium mine. Maximus retains significant upside, holding a 70% interest in the lithium JV at the end of the farm-in period.
Wither said “We are very excited to commence working with KOMIR in advancing the company’s highly prospective Lefroy Lithium Project. This is a significant partnership for the company and is a strong endorsement of our lithium prospects with the backing from the Korean government agency KOMIR.”
“The strategic partnership allows Maximus to draw on KOMIR’s international expertise, and industry partnerships with the world's largest EV battery manufacturers, to support future project development, production, and marketing.
“Maximus is in a very strong position with a growing gold resource of 320,600 oz on granted mining tenements, several exciting nickel prospects and now secured funding and support to advance our lithium prospects, while retaining a significant discovery exposure in one of the dominant hard-rock lithium-producing regions in the world.”
Contact Details
Proactive Investors
Jonathan Jackson
+61 413 713 744
jonathan@proactiveinvestors.com
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Maximus Resources Limited is an Australian mining company focused on the exploration and development of gold, lithium, and nickel projects. The Company holds a diversified portfolio of exploration projects in the Kambalda region of Western Australia, with 335,000 ounces of gold resources across its granted mining tenements. Its primary focus is the Spargoville Project, located about 25 kilometers (km) from Kambalda, Western Australia. It holds about 60 square kilometer of gold rights to the south of the Wattle Dam Gold Project. Its Redback Gold Deposit is located about 600 meters south-southeast of the previously mined high-grade Wattle Dam. Its Larkinville Gold Project is located about five km south-west of Wattle Dam and proximal to Eagles Nest, Larkinville. Its Eagles Nest Gold Project is located around seven km south of Wattle Dam site. In addition to its gold prospects, its Spargoville tenements are prospective for Kambalda-style komatiite-hosted nickel sulfide mineralization.