Lepidico, Maximus Resources strike lithium deal

Lepidico is expanding its reach in Australia’s lithium market after acquiring a 75 per cent interest in Maximus Resources’ lithium rights in Kalgoorlie.

The lithium rights, known as the Moriarty project, are part of Maximus Resources’ Spargoville project.

Maximus acquired the Spargoville tenement from Tychean Resources in 2015 for its gold potential. Maximus’ focus on gold thus enabled it to divest its lithium rights.

Moriarty covers approximately 70km2 of lithium prospective ground south of the Mt Marion lithium mine. It contains key sources of lithium micas that would be processed using Lepidico’s L-Max technology, which produces battery grade lithium carbonate.

“Lepidico is pleased that it has added another Li-mica project to its growing global portfolio of properties as it aims to build an inventory of Li-mica resources that would in time provide concentrate feedstock to a full scale L-Max plant,” Lepidico said.

Field work at Moriarty is set to begin in September.