Maximus Resources unveils exciting prospects in Perth

Maximus Resources managing director Tim Wither highlighted at the RIU Conference in Perth the company's world-class geology and strategic location, focusing on gold, lithium, and nickel projects.

With over $2.5 million in cash and approximately $4.8 million in Lithium Joint Venture (JV) funding, Maximus Resources is poised for significant growth and development.

Strategic lithium partnership with KOMIR

One of the most significant announcements during the presentation was the strategic Lithium partnership with KOMIR, a South Korean Government Agency responsible for national resource security.

KOMIR has committed to fund approximately US$3 million (A$4.8 million) for a 30% interest in the Lefroy Lithium Project.

South Korea, a global leader in electric vehicle (EV) battery manufacturing, represents a lucrative market for lithium supply. An important non-binding MOU has also been executed with LG Energy Solution, further enhancing the project's potential. Additionally, Maximus Resources holds the option to acquire KOMIR's interest in the Lithium JV, providing flexibility for the future.

Lithium projects in Western Australia's lithium corridor

Maximus Resources' lithium projects, including Lefroy and Larkinville, are strategically located within one of the world's most prospective hard rock lithium regions. Situated approximately 20km south of Mineral Resources Limited's Mt Marion lithium mine, these projects have already been granted mining licenses. The company has identified spodumene-bearing pegmatites, confirming the region's lithium potential.

Lefroy lithium target

The Lefroy Lithium Project, in particular, has shown promising results. Geological similarities to Mt Marion and the presence of over 80 outcropping pegmatites suggest a high potential for lithium resources. Rock chip sampling has revealed impressive lithium grades, including samples with over 5% Li2O and elevated levels of other valuable elements. A systematic soil sampling program is currently underway to define additional drill targets, further enhancing the project's prospectivity.

Exploration and near-term gold production potential

Maximus Resources also boasts a strong foundation in gold resources, with over 320,600 ounces at an average grade of 1.6 g/t Au. The company holds granted mining tenements and enjoys excellent access to infrastructure and service providers, offering numerous nearby toll-treating options.

The Wattle Dam Gold Mine, with its demonstrated high-grade potential, represents a significant asset. Historical production data reveals impressive figures, including 52,700 ounces from open-pit mining and 213,650 ounces from underground mining, totaling 266,350 ounces at an average grade of 11 g/t Au. Recent drilling efforts have confirmed the geological sequence and gold mineralization, providing substantial opportunities for resource growth.

Mineral resource update and future work programs

Maximus Resources announced a 250% increase in the Wattle Dam Gold Project's mineral resources, with 251,500 ounces of gold at an average grade of 1.45 g/t Au. The mineralization remains open, with only limited drilling conducted within optimised pit shells. The company also enjoys high metallurgical recoveries of 92% to 97%, setting the foundation for development studies and potential near-term production.

The Spargoville Project, focused on gold, offers growth opportunities with ongoing resource drill-out planning. Maximus Resources holds 117 square kilometers of 100% gold rights in Tier-1 geology, strategically located near the prolific St Ives gold camp.

Promising nickel prospects

Maximus Resources' commitment to multi-commodity exposure extends to nickel exploration. The Kandui Nickel Prospect, situated within a region of folded komatiites with extensive nickel mineralization, presents a compelling target. Recent exploration efforts have revealed encouraging drilling intersections with significant nickel and copper grades.

The company's regional nickel exploration has also yielded additional targets, emphasizing the potential for high-quality nickel sulphide deposits. PGM soil mapping is currently underway, further enhancing the prospectivity of these targets.