Maximus Resources Intersects Lithium and Nickel Mineralisation at Kandui

THE DRILL SERGEANT: Maximus Resources (ASX: MXR) reported assay results from recently completed Reverse Circulation (RC) drilling at the company’s Lefroy lithium project near Kambalda in Western Australia.

Maximus Resources carried out drilling on the Kandui nickel prospect and the Hilditch gold project, both located within the Lefory project.

The company recently entered a US$3 million (~$4.8 million) Farm-in Agreement for the Lefroy lithium project with the Korea Mine Rehabilitation and Mineral Resources Corporation (KOMIR).

KOMIR is a Korean Government agency responsible for their national resource security, including developing overseas mining and processing capacity to supply the Korean market.

Drilling at Kandui intersected zones of shallow dipping lithium-bearing pegmatites including:

KDRC007
6 metres at 1.11 per cent lithium oxide (Li2O) from 90m, including 3m at 1.99 per cent Li2O from 91m.

The Kandui drilling also encountered shallow broad zones of nickel sulphide mineralisation at the basal contact producing assay results of:

KDRC004
7m at 0.48 per cent nickel from 6m, including 1m at 0.91 per cent nickel, from 11m and 2m at 0.62 per cent nickel from 18m, including 1m at 0.81 per cent nickel from 19m; and

KDRC008
4m at 0.52 per cent nickel from 100m, including 1m at 1.02 per cent nickel from 125m.

All drill holes at Hilditch intersected gold mineralisation where Maximus now has a Mineral Resource update underway.

“This drilling program has revealed a new lithium-bearing pegmatite at Lefroy that was hidden under cover,” Maximus Resources managing director Tim Wither said in the company’s ASX announcement.

“The previously unknown lithium-bearing pegmatite is a very exciting development, as we are about to launch the first phase of our drilling program across the Lefroy lithium prospect in collaboration with our KOMIR partners.

“Kandui is known to have several shallow dipping intrusive pegmatites, crosscutting the nickel mineralisation, and this discovery highlights the potential for more lithium-bearing pegmatites to be found across the large lithium anomaly to be drill-tested at Lefroy.

“In addition to the confirmed lithium potential, the nickel results at Kandui are very encouraging and provide strong validation of the effectiveness of the company’s geochemistry soil mapping program.

“All holes intersected nickel mineralisation proximal to an interpreted basal contact, and follow-up drilling is warranted.

“Lastly, the separate drilling at Hilditch Gold continues to be effective, with these and previous drill program results to be utilised for a gold resource update.

“Due to its shallow high-grade mineralisation, Hilditch has the prospect to be a near-term production source for the company.”

 

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE