Maximus Resources (ASX:MXR) has scheduled further follow-up field work at its Larkinville Lithium Project in Western Australia, after identifying a ‘large-scale’ lithium anomaly.
The $14.10 million market capitalisation company will conduct field mapping and an aerial mapping survey, which are expected to be completed in early February 2024.
A reverse circulation (RC) drilling program is also anticipated to start, subsequent to a drilling program at Maximus’s Lefroy Lithium Project.
This comes after Maximus completed a soil geochemical sampling program which delineated a ‘large’, more than 200 parts per million (ppm) lithium oxide (Li2O) soil anomaly covering 900m in strike and 800m in width, with peak values at 593ppm Li2O.
Maximus Resources Managing Director Tim Wither says this latest discovery highlights the ‘excellent’ prospectivity of the company’s tenements.
“The strong lithium anomaly at Larkinville is an encouraging result, significantly advancing our evaluation of Larkinville, suggesting its potential to host a substantial lithium-caesium-tantalum (LCT) pegmatite mineral system.”
Wither says following the company discovering a ‘strong’ lithium-in-soil anomaly at Lefroy, the company will be applying the knowledge provided from that discovery to Larkinville.
The Larkinville project lies 10km south of the company’s Lefroy project in Western Australia’s Eastern Goldfields.
Maximus Resources is an Australian diversified minerals explorer with assets considered prospective for gold, lithium, and nickel.
As of 31 December 2023, the company had $2.15 million cash at hand, according to its latest quarterly report.
Write to Aaliyah Rogan at Mining.com.au
Images: Maximus Resources
