Maximus Resources secures partnership to advance Lefroy lithium project
Melbourne, Victoria
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October 16, 2023 06:00 PM Eastern Daylight Time
Maximus Resources Ltd (ASX:MXR, OTC:MXRRF) MD Tim Wither tells Proactive the company has formed a strategic lithium partnership with the Korea Mine Rehabilitation and Mineral Resources Corporation (KOMIR) in regards to its Lefroy Lithium Project in the “lithium corridor” of the Eastern Goldfields in Western Australia. The Korean government agency has agreed to fund US$3 million (A$4.8 million) of lithium exploration to earn 30% interest in a lithium joint venture across the Lefroy Lithium Project, which is about 20 kilometres south of Mineral Resources Ltd (ASX:MIN)’s Mt Marion lithium mine. Maximus retains significant upside, holding a 70% interest in the lithium JV at the end of the farm-in period.
Wither said “We are very excited to commence working with KOMIR in advancing the company’s highly prospective Lefroy Lithium Project. This is a significant partnership for the company and is a strong endorsement of our lithium prospects with the backing from the Korean government agency KOMIR.”
“The strategic partnership allows Maximus to draw on KOMIR’s international expertise, and industry partnerships with the world's largest EV battery manufacturers, to support future project development, production, and marketing.
“Maximus is in a very strong position with a growing gold resource of 320,600 oz on granted mining tenements, several exciting nickel prospects and now secured funding and support to advance our lithium prospects, while retaining a significant discovery exposure in one of the dominant hard-rock lithium-producing regions in the world.”
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Proactive Investors
Jonathan Jackson
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