Partnership with MinRes on Horse Rocks Lithium Project

Lord Resources Limited (ASX: $LRD) has entered into a binding farm-in agreement with Mineral Resources Limited (MinRes) on the Horse Rocks Lithium Project, located 20km south of Coolgardie, in Western Australia. Under the agreement, MinRes will spend $1 million in exploration to earn 40% of the Project, subject to satisfactory due diligence.

Managing Director's perspective on the partnership

We are extremely excited to secure a strategic partnership with MinRes. The agreement validates the strong work Lord has already completed at the Horse Rocks Lithium Project and provides the opportunity to collaborate with a world-class exploration team drawing on their knowledge and expertise of this highly prospective lithium region. We also look forward to ramping up exploration at our Jingjing Lithium Project, which will provide a two-headed lithium exploration strategy.

Strategic partnership and future outlook

The partnership with MinRes allows Lord to maintain exposure to a high-value project while ramping up exploration on its Jingjing Lithium Project. MinRes, a globally significant lithium producer, will bring its expertise to advance the Horse Rocks Lithium Project. The agreement also demonstrates Lord's commitment to unlocking the full potential of its lithium projects and creating long-term value for its shareholders. Looking ahead, MinRes has the option to further increase its stake through Stage 2 and Stage 3 farm-in obligations, indicating confidence in the project's potential. This strategic partnership positions Lord Resources for significant advancements in the lithium exploration sector.