Lepidco invented the LMAX technology which requires lepidolite which is lithium Mica not Spodumene or any other derivative of lithium. So perhaps they didnt find any lepidolite which is a better outcome for Maximus.
Maximus have historical rock chips of the Lefroy Lithium Prospect (~20km south of Mt Marion) below • 1.74% Li2O • 3.14% Li2O • 3.56% Li2O • 4.97% Li2O
They also have lithium at the Larkinville project
The Larkinville Lithium prospect (75% Maximus) is located approximately ~15km south of the Company’s Lefroy Lithium Prospect (Figure 1) and west of the Larkinville Gold deposit (Figure 3). Preliminary 2016 rock chip sampling of outcropping pegmatites at the northern pegmatite at Larkinville returned up to 5.29% Li2O and 2.93% Rb (LFR045) (ASX:MXR announcement 15 September 2016).
If Lepidico did do work and explore these tenements it is probably a better sign for MXR given we can make only make the assumption lepidico knew about these historical rockchips which is why they decided to explore but must not have found lepidolite, which only leaves a couple other options. The market wants Spodumene, given the grades are 1 -4% you could infer its spodumene rather than the higher grade petalite. We do not want lepidolite which Lepidico searches for, we are after the spodumene
Then go and have a look at the recent unknown pegmatite they hit whilst drilling Hilditch, these cores clearly show a green to pink pegmatite which looks very similar to the LRS discovery, there is a green to pink Spodumene crystal set up, geochem will tell MXR if there is spodumene or some other mineral.
Id Lepidico did work, did they ever drill it, do you have any more information on this?
