MAXIMUS RESOURCES LIMITED ASX Announcement
7 JUNE 2022
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Spargoville Lithium Projects Update
Maximus Resources Limited ("Maximus" or "the Company", ASX:MXR) is pleased to provide an update on the lithium exploration across the Spargoville tenements, following the completion of an external Lithium expert review and additional sampling at the Lefroy and Larkinville projects.
- External review confirms rare-elementLithium-Caesium-Tantalum (LCT) pegmatites occurring across the Spargoville Larkinville and Lefroy tenements, highlighting exploration potential for economic lithium-bearing pegmatites.
- Additional rock sampling of out-cropping pegmatites returns elevated Lithium (Li2O), Caesium (Cs) and Rubidium (Rb) results, which include:
Larkinville Lithium Prospect
- 2.7 % Li2O, 4,170 ppm Cs and 17,250 ppm Rb o 2.0 % Li2O, 3,230 ppm Cs and 11,650 ppm Rb o 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 o 1.61 % Li2O, 2,470 ppm Cs and 7,320 ppm Rb o 1.49 % Li2O, 1,290 ppm Cs and 7,710 ppm Rb
Figure 1 - Maximus Resources Lithium prospects location map with significant deposits in the region.
Maximus Resources Limited | maximusresources.com |
Suite 12, 198 Greenhill Road, Eastwood SA, 5063 | ASX:MXR |
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Maximus recently engaged CSA Global lithium expert, Ralph Porter, to review legacy and current geological data, and assist in progressing lithium exploration across the Company's Spargoville tenements, which has had limited exploration for spodumene-bearing pegmatites.
Maximus' Spargoville tenements are located within the Southern Yilgarn Li-Cs-Ta Province which hosts several world-class lithium projects including; Liontown Resources Limited (ASX:LTR) Buldania Lithium Project, Essential Minerals Limited's (ASX:ESS) Pioneer Dome lithium Project, the Bald Hill Lithium Mine and are located ~20kms south of the Mt Marion lithium mine, operated by Mineral Resources Limited (ASX:MIN), with a Mineral Resource of 71.3Mt at 1.37% Li2O (ASX:MIN announcement 31 October 2018) (Figure 1).
The external review by CSA Global focused on utilising the Potassium/Rubidium (K/Rb) ratio, which is widely used to evaluate the fractionation state and mineralisation potential of pegmatites, with spodumene-bearing pegmatites typically having a ratio ranging from 5 - 40 K/Rb.
The review has confirmed that the majority of the Lefroy and Larkinville Project pegmatites have moderate to strong fractionation characteristics, supported by elevated values for lithium, rubidium and caesium confirming they belong to the rare-elementLithium-Caesium-Tantalum (LCT) subtype.
The review included a site visit and examination of outcropping pegmatites, drill-core, and reverse circulation (RC) cuttings in the Spargoville belt. Field observations confirm the pegmatites occurring within the Lefroy and Larkinville Prospects are zoned pegmatites and specific areas for drill-testing have been defined.
LEFROY LITHIUM PROSPECT
The Lefroy Lithium Prospect (100% MXR) is located ~20kms south of the Mineral Resources Limited (ASX:MIN) Mt Marion lithium JV operations and is proximal to Marquee Resources (ASX:MQR) West Spargoville lithium prospect (Figure 1).
The review indicated that the outcropping pegmatites across the Lefroy Lithium Prospect have characteristics (K/Rb ratio) of LCT pegmatites. The sample results for the northern pegmatite zones indicate variable fractionation using the potassium/rubidium (K/Rb) ratio, while the southern pegmatites are strongly fractionated with low K/Rb ratios (4-15) indicating the potential for domains of zonation lithium enrichment within the pegmatite intrusions (Figure 2).
X-ray diffraction (XRD) analyses of the recent rock chips from the Lefroy Lithium Project (southern pegmatite) area was completed to confirm sample mineralogy. The analysis validated field observations of lepidolite and other lithium-bearing micas such as polylithionite present.
Exploration drilling for gold at the Company's Hilditch Gold target (~1.5km south of the Lefroy area) intersected pegmatites which were sampled separately for lithium suite elements and returned encouraging results with elevated Rubidium (Rb) up to 2,130 ppm and elevated Lithium (Li) up to 440 ppm.
Further review of the intersected pegmatite in drill-core from the Hilditch Gold target revealed localised fine- grained bands of albite-lepidolite, indicating the lithium-bearing mica is potentially a late metasomatic replacement. Geochemical results from the intersected pegmatite at Hilditch Gold were analysed and indicated moderate fractionation highlighting the potential for lithium enrichment along strike within these pegmatites.
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Figure 2 - Lefroy Lithium Project mapped pegmatites - Potassium/ Rubidium (K/Rb) ratio. Lithium values (ppm) as annotated.
LARKINVILLE LITHIUM PROSPECT
The Larkinville Lithium Prospect (75% Maximus) is located approximately ~15km south of the Company's Lefroy Lithium Prospect (Figure 1), west of the Larkinville Gold deposit (Figure 3), and is encompassed by Marquee Resources (ASX:MQR) West Spargoville Project.
The external review confirmed that the Larkinville pegmatites are prospective zoned LCT type pegmatites, that are strongly fractionated with elevated Lithium values up to 5.29% Li2O and 2.93% Rb (ASX:MXR announcement 31 March 2022).
Supplementary rock samples from the north of the tenement confirm elevated lithium occurrences up to
2.7% Li2O in several recent samples including:
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GDA East | GDA North | Sample ID | Li2O % | Cs (ppm) | Nb (ppm) | Rb (ppm) | Ta (ppm) |
353694 | 6523149 | SL1628 | 1.4 | 2340 | 83 | 8,870 | 66.7 |
353697 | 6523148 | SL1629 | 0.9 | 1760 | 36 | 7,570 | 43.7 |
353697 | 6523134 | SL1630 | 2.0 | 3230 | 51 | 11,650 | 67.4 |
353687 | 6523133 | SL1631 | 2.7 | 4170 | 50 | 17,250 | 71.4 |
353693 | 6523154 | SL1637 | 0.6 | 1030 | 84 | 5,400 | 120.5 |
Figure 2 - Larkinville Area Prospect mapped pegmatites - Potassium/ Rubidium (K/Rb) ratio. Lithium values (ppm) as annotated.
X-ray diffraction (XRD) analysis of the rock samples indicates multiple micas present with muscovite, lepidolite, polylithionite and possible tainiolite. The K/Rb data indicates the pegmatites are moderate to strongly fractionated. These observations, plus elevated lithium in surface samples, support drill testing of these pegmatites.
Maximus Resources Limited | maximusresources.com |
Suite 12, 198 Greenhill Road, Eastwood SA, 5063 |
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FORWARD PLAN
The Company is reviewing options to advance the highly prospective Lithium prospects across the Spargoville tenements, complementary to the Company's gold and nickel focus.
Recommendations from the external review and completed fieldwork support a targeted lithium drill program across several prospects. The planning and approval process is underway for a programme in the second half of 2022, subject to approvals.
This ASX announcement has been approved by the Board of Directors of Maximus.
For further information, please visit www.maximusresources.com or contact: T: +61 8 7324 3172
E: info@maximusresources.com
Competent Person Statements: The information in this announcement that relates to Lithium prospectivity outlined within this document is based on information reviewed, collated and compiled by Dr Travis Murphy, a full-time employee of Maximus. Dr Murphy is a professional geoscientist and Member of The Australian Institute of Geoscientists and has sufficient experience relevant to the style of mineralisation and type of deposit under consideration, and to the activity which has been undertaken, to qualify as a Competent Person as defined in the 2012 Edition of the Joint Ore Reserves Committee (JORC) Australasian Code for Reporting of Exploration Results, Mineral Resources, and Ore Reserves. Dr Murphy consents to the inclusion in this announcement of the matters based on this information in the form and context in which it appears.
The information in this announcement that relates to Lithium prospectivity outlined within this document is based on information reviewed by Mr Ralph Porter, a full-time employee of CSA Global Pty Ltd. Ralph Porter is a professional geoscientist and Member of The Australian Institute of Geoscientists and has sufficient experience relevant to the style of mineralisation and type of deposit under consideration, and to the activity which has been undertaken, to qualify as a Competent Person as defined in the 2012 Edition of the Joint Ore Reserves Committee (JORC) Australasian Code for Reporting of Exploration Results, Mineral Resources, and Ore Reserves. Mr Porter consents to the inclusion in this announcement of the matters based on this information in the form and context in which it appears.
Forward-LookingStatements contained in this release, particularly those regarding possible or assumed future performance, costs, dividends, production levels or rates, prices, resources, reserves or potential growth of Maximus Resources Limited, are, or maybe, forward-looking statements. Such statements relate to future events and expectations and, as such, involve known and unknown risks and uncertainties. Actual results and developments may differ materially from those expressed or implied by these forward--‐looking statements depending on a variety of factors.
Appendix A - Rock samples geochemical analysis results. Potassium/ Rubidium (K/Rb) ratio (<40 highlighted).
Sample ID | Location | GDA94_E | GDA94_N | K2O% | Li2O | Cs | Nb | Rb | Sn | Ta | K/Rb | |||||||||||||||||||||||||
(%) | (ppm) | (ppm) | (ppm) | (ppm) | (ppm) | Ratio | ||||||||||||||||||||||||||||||
MXR016752 | East Hilditch | 355975 | 6538949 | 3.31 | 0.00 | 93 | 40 | 1285 | 17 | 21 | 21 | |||||||||||||||||||||||||
MXR016753 | East Hilditch | 355978 | 6538949 | 1.62 | 0.00 | 54 | 60 | 629 | 17 | 30 | 21 | |||||||||||||||||||||||||
MXR016754 | East Hilditch | 355981 | 6538949 | 2.75 | 0.00 | 49 | 54 | 929 | 10 | 18 | 25 | |||||||||||||||||||||||||
MXR016755 | East Hilditch | 355984 | 6538949 | 0.41 | 0.00 | 17 | 73 | 153 | 13 | 27 | 22 | |||||||||||||||||||||||||
MXR016756 | East Hilditch | 355987 | 6538949 | 0.95 | 0.00 | 24 | 41 | 345 | <5 | 24 | 23 | |||||||||||||||||||||||||
MXR016757 | East Hilditch | 355990 | 6538949 | 1.26 | 0.00 | 48 | 61 | 412 | <5 | 28 | 25 | |||||||||||||||||||||||||
MXR017001 | Lefroy_Hilditch | 354560 | 6537745 | 2.69 | 0.44 | 435 | 27 | 3740 | 40 | 12 | 6 | |||||||||||||||||||||||||
MXR017002 | Lefroy_Hilditch | 354581 | 6537744 | 3.60 | 1.49 | 1290 | 48 | 7710 | 147 | 35 | 4 | |||||||||||||||||||||||||
MXR017003 | Lefroy_Hilditch | 354565 | 6537745 | 3.43 | 0.57 | 602 | 30 | 5240 | 50 | 11 | 5 | |||||||||||||||||||||||||
Maximus Resources Limited | maximusresources.com | |||||||||||||||||||||||||||||||||||
Suite 12, 198 Greenhill Road, Eastwood SA, 5063 |
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Maximus Resources Limited published this content on 06 June 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 06 June 2022 23:21:09 UTC.
