MXR did announce a strategic focus on Lefroy in 2016, and advised their conclusions as follows:
- Drilling at Mt Marion discovered significant high-grade pegmatite hosted Lithium mineralisation
- Mineralisation lies beneath modest, near-surface and shallow intersections in relatively thin pegmatites
- Intersections in the order of 200m at >1.5% are common, in what has been interpreted as a pegmatite feeder zone at Mt Marion
- The feeder zone occupies a magnetic low, as the nonmagnetic pegmatite replace the greenstones
- A magnetic low occurs at Lefroy beneath shallow east dipping Spodumene bearing pegmatites
- In geophysical images, a distinct magnetic low occurs at Lefroy beneath east dipping Spodumene bearing pegmatites intersected in shallow drilling
- Consequently, Lefroy has key parameters for the discovery of a Mt Marion Style Lithium Deposit
At this critical juncture the company then got side-tracked by a renewed focus on their Gold projects, and later entered into a JV with Lepdico - who embarked on some half-hearted exploration & once again never did the deeper drilling required to confirm the presence of large pegmatite feeder zones. This is shaping up as a story of missed opportunities to date, and only now is the project getting the required funding & drilling required that could lead to a substantial discovery.
MXR 2016 Strategic Focus Spargoville Lithium Project
