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High-powered survey delivers promising results

5 July 2021
ASX: MXR
Rueben Hale
Gear with energy relative silhouettes. Design set of coal mining industry. Nickel chemical element. 3D rendering

Maximus Resources Limited has commenced a 2.5 square-kilometre survey at the company’s high-priority Hilditch Nickel target, located 9 kilometres north of its Wattle Dam Gold Mine and just 20 minutes drive from Nickel West’s concentrator plant in Kambalda.

The ASX-listed explorer is understandably bullish about the target’s potential, with historic exploration revealing a headlining 2.4 per cent intersection over two metres at a time when global prices are on an uphill march, amidst a global nickel deficit.

The company said a geological review of the Hilditch nickel target highlights prospective structural and stratigraphic positions that require comprehensive geophysical assessment, with historic drilling recording nickel intersections ranging 1 to 2.4 per cent, with 0.5 per cent copper found in two holes.

“With advancements of ground-based geophysics and modelling techniques, the application of modern high-powered electromagnetic survey is warranted,” the company said.

Maximus’ tenements are located 20 kilometres from Kambalda, Western Australia’s premier gold and nickel mining district.

It holds 48 square kilometres of tenements across the fertile Spargoville Shear Zone hosting Wattle Dam, where the company is developing several small high-grade operations while actively exploring other opportunities.

The company expects to complete the survey within a week with results in the following fortnight.

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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