• June 14, 2022

Spargoville Lithium Project Update

Published on June 14th, 2022

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-element Lithium–Caesium-Tantalum (LCT) pegmatites occurring across the Spargoville Larkinville and Lefroy tenements, highlighting exploration potential for economic lithium-bearing

• 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
  • 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

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-element Lithium-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.

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SOURCE: Maximum Resources
DATE: June 7, 2022

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