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Maximus puts foot down at Larkinville

1 June 2021
ASX: MXR
Rueben Hale
Core Drilling for Exploration

Australian Securities Exchange-listed Maximus Resources has commenced a 1500 metre reverse circulation (RC) resource extension and infill drilling program at its Larkinville Deposit.

The drill program is designed to improve the confidence of the mineral resource for a development study and test areas of open mineralisation along the strike and down-dip, the company said today.

The 1500 drill metres at Larkinville is part of Maximus’ 4000-metre multi-target RC drilling program targeting several near-mine and regional exploration gold targets across its Spargoville tenements, including mineral resource drilling for Wattle Dam Stockwork.

Larkinville is located near the northwest-trending Kunanalling Shear zone, with a 300 metre strike length to a current depth of about 80m below surface and dipping 65-70 degrees to the south-west.

The project presents a rapid, low-cost development  opportunity for Maximus, as it has a shallow, majority oxide resource, which reduces expensive drill and blasting costs.

Maximus will “test potential resource extension along strike and down dip, as well as provide resource infill at ca. 20 x 20-metre drill spacing”.

“Drill samples will be retained for metallurgical test work for the completion of the development study,” the company said.

Several of the planned RC drill holes will also test potential down-plunge extensions of previously reported thick high-grade intersections.

Development study work also includes the completion of flora and fauna surveys, which is being finalised.

Larkinville is 75 per cent held by Maximus and 25 per cent by Essential Metals.

Drilling at Larkinville is part of Maximus’ near-term production strategy, with the company progressing work to obtain mining approval from Western Australia’s Department of Mines, Industry Regulation and Safety.

Founded in 2004, the South Australia-based company intends to take significant steps in 2021 towards extending its exploration success.

It has 48 square kilometres of mining licences across the fertile Spargoville Shear Zone, which hosts the very high-grade Wattle Dam Gold Mine and is also highly prospective for nickel. 

COMPANY OVERVIEW

Maximus Resources (ASX: MXR) Spargoville tenements are located in the heart of Australia’s premiere gold and nickel mining district – just 25km from Kambalda, Western Australia. Home of the very high-grade historic Wattle Dam Gold Mine, the Spargoville tenements are readily accessible and are located less than 50km from six gold processing plants and just 25km from BHP’s Kambalda Nickel Concentrator. Mined until 2012, the Wattle Dam Gold Mine was one of Australia’s highest-grade gold mines, producing ~286,000 oz gold @ 10.1 g/t gold . Maximus Resources’ focus is the discovery of the next Wattle Dam Gold Mine. Maximus Resources has been granted 48 sqkm of mining licences and has gold rights across a further 60 sqkm along the very fertile Spargoville Shear Zone, hosting multiple significant gold and nickel deposits.

COMPANY INFORMATION

ASX: MXR

Website

http://maximusresources.com/
https://www2.asx.com.au/markets/company/mxr

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