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Maximus charge up on Goldfields battery prospects

7 June 2022
ASX: MXR
Jack Baker

Maximus Resources has confirmed rare-element lithium–caesium-tantalum (LCT) pegmatites across the company’s key Spargoville Larkinville and Lefroy tenements southwest of Kambalda in Western Australia.

A caesium resource would be a significant additional find with the rare metal increasing demand from the oil and technology sectors. At the same time, lithium remains trading near all-time highs.

Maximus Resources Lithium prospects location map with significant deposits in the region. 

The company – best known for nickel and gold exploration – says the independent fieldwork findings support several prospects’ targeted lithium drill programs.

It says the review highlights the exploration potential for accessible lithium-bearing pegmatites at the underexplored critical mineral tenement.

The next step is a review of options to advance the lithium prospects across the Spargoville tenements.

Planning and approvals are underway for a programme in the second half of 2022.

Notable results:

Larkinville Lithium Prospect

  • 2.7 % Li2O, 4,170 ppm Cs and 17,250 ppm Rb
  • 2.0 % Li2O, 3,230 ppm Cs and 11,650 ppm Rb
  • 1.4 % Li2O, 2,340 ppm Cs and 8,870 ppm Rb

Lefroy Lithium Prospect

  • 1.97 % Li2O, 1,985 ppm Cs and 9,800 ppm Rb
  • 1.61 % Li2O, 2,470 ppm Cs and 7,320 ppm Rb
  • 1.49 % Li2O, 1,290 ppm Cs and 7,710 ppm Rb

MXR’s Australian Stock Exchange-listed share price has risen 1.52 per cent today, selling at 6.7c (9.37 am UTC+ 8 hours).

COMPANY OVERVIEW

Maximus Resources (ASX: MXR) Spargoville tenements are located in the heart of Australia’s premiere gold and nickel mining district – just 25km from Kambalda, Western Australia. Home of the very high-grade historic Wattle Dam Gold Mine, the Spargoville tenements are readily accessible and are located less than 50km from six gold processing plants and just 25km from BHP’s Kambalda Nickel Concentrator. Mined until 2012, the Wattle Dam Gold Mine was one of Australia’s highest-grade gold mines, producing ~286,000 oz gold @ 10.1 g/t gold . Maximus Resources’ focus is the discovery of the next Wattle Dam Gold Mine. Maximus Resources has been granted 48 sqkm of mining licences and has gold rights across a further 60 sqkm along the very fertile Spargoville Shear Zone, hosting multiple significant gold and nickel deposits.

COMPANY INFORMATION

ASX: MXR

Website

http://maximusresources.com/
https://www2.asx.com.au/markets/company/mxr

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