Strategic Partnership Expands Horizons for Horse Rocks Lithium Project

Highlights:

• Strategic partnership formed between Lord Resources Limited and Mineral Resources Limited (MinRes) for the Horse Rocks Lithium Project.
• MinRes to invest $1 million in exploration, acquiring a 40% stake, subject to satisfactory due diligence.
• Expansion plans include potential for MinRes to increase stake to 70% in Stage 2 and 85% in Stage 3, demonstrating confidence in the project's prospects.

Lord Resources Limited (ASX: LRD) has announced a significant milestone in its journey toward unlocking the potential of the Horse Rocks Lithium Project. A strategic partnership has been inked with Mineral Resources Limited (ASX: MIN), representing a pivotal move in the lithium exploration and development sector.

Partnership Dynamics

The collaboration entails a farm-in agreement, wherein MinRes will invest $1 million in exploration to acquire a 40% stake in the Horse Rocks Lithium Project, subject to satisfactory due diligence. This strategic alliance builds upon Lord's prior exploration efforts, leveraging MinRes's global expertise in lithium project exploration and development.

Project Overview

Located 20km south of Coolgardie, Western Australia, the Horse Rocks Lithium Project holds significant

promise, with previous exploration uncovering multiple stacked LCT pegmatite swarms. This geological richness underscores the project's potential for future development and commercial viability.

Expansion Plans

MinRes's involvement extends beyond the initial phase, with provisions for further investment in subsequent stages. This includes the creation of a Joint Venture in Stage 2, allowing MinRes to increase its stake to 70% by investing an additional $5 million. Stage 3 offers the potential for MinRes to hold an 85% interest in the project, signaling confidence in its long-term prospects.

Strategic Significance

The partnership not only provides Lord with non-dilutive funding but also grants access to MinRes's invaluable knowledge and expertise in lithium exploration and production. This collaboration exemplifies Lord's commitment to maximizing the value of its lithium projects and delivering sustainable returns to shareholders.

Conclusion

As the global demand for lithium continues to surge, strategic partnerships like the one forged between Lord Resources Limited and Mineral Resources Limited pave the way for innovation and growth in the lithium sector. With the Horse Rocks Lithium Project poised for expansion and development, this partnership heralds a new era of exploration and discovery in the Western Australian lithium landscape.

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