Maximus Resources Ltd (ASX:MXR) has completed field reconnaissance and a review of legacy exploration data at its Spargoville tenements, where it is assessing the potential for lithium along with gold and nickel.
The company holds significant tenements across the world-class Southern Yilgarn lithium-cesium-tantalum province, host to several other lithium projects including Liontown Resources (ASX:LTR) Limited’s Buldania Lithium Project, Essential Metals Ltd’s Pioneer Dome Lithium Project and the Bald Hill Lithium Mine. Its tenements are around 20 kilometres south of Mineral Resources Limited’s world-class Mt Marion lithium mine.
Historic rock chip samples from the company’s Lefroy lithium prospect include 1.74% lithium oxide, 3.14% lithium oxide, 3.56% lithium oxide and 4.97% lithium oxide.
Several pegmatites of up to 14 metres downhole widths have been intersected at the Hilditch gold prospect, 1.2 kilometres south of Lefroy, during an ongoing gold and nickel drilling campaign. Samples have now been submitted for lithium assays.
Swarm of outcropping pegmatites
Recent field mapping at the Lefroy prospect indicates a swarm of outcropping pegmatites, highlighting the opportunity for the discovery of an Mt Marion-style deposit, with a lithium-enriched pegmatite feeder zone at depth.
“The Maximus exploration team has been busy completing our large multi-target drill program across the Redback gold deposit and several exciting gold and nickel exploration targets,” managing director Tim Wither said.
“With the majority of samples submitted and expected assay result delays, we are pleased to report that initial fieldwork, in conjunction with an ongoing review of legacy data, has highlighted the significant potential for lithium-bearing LCT pegmatites within the Spargoville area.
“With the region hosting several world-class lithium deposits and known favourable geology across the Maximus’ Spargoville tenements we believe the company is well placed to take advantage of the buoyant lithium market.”
Limited exploration
Legacy lithium exploration programs across the Spargoville tenements have been limited to discrete parts of the Lefroy and Larkinville lithium prospects, which included the sampling of outcropping pegmatites and the re-sampling of legacy RC drill cuttings at the Lefroy prospect.
Maximus’ other majority-owned prospect, the Larkinville lithium prospect, is around 15 kilometres south of the company’s Lefroy prospect and west of the Larkinville gold deposit.
At Larkinville, preliminary 2016 rock chips returned up to 5.29% lithium oxide and 2.93% rubidium, highlighting the exploration potential for lithium-bearing pegmatites.
More recent reconnaissance rock-chip sampling of outcropping pegmatites in the Larkinville tenement returned assays of up to 1.49% lithium oxide, with elevated rubidium (9,130ppm), niobium (241ppm) and tantalum (261ppm), consistent with lithium-mineralised pegmatite to the north.
Next steps
The company is reviewing its options to realise this highly prospective lithium potential across the Spargoville tenements.
Further fieldwork, including field XRD analysis, will be conducted during the ongoing multi-target drill campaign to determine the potential for additional lithium-bearing pegmatites. This will support planning for a targeted drill program later in 2022.
In addition, further work, including drilling, is required to determine whether the swarm in the southwest of the tenement has lithium-rich domains at the surface and at depth.