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Maximus’ finds ‘major upside’ on Hilditch maiden run

22 July 2021
ASX: MXR
Rueben Hale
mining

Maximus Resources Limited has uncovered numerous shallow intersections of base metal and rare earth element potential during its first run of drilling at its promising Hilditch West target near BHP’s Kambalda nickel operation in Western Australia.

Reverse circulation drilling identified nickel-copper-cobalt mineralisation over roughly a 750 metre-strike of hosted domain. Additionally, high scandium grades, including 8m at 57 parts per million and 6m at 55ppm at three drill sections over 500m strike, were also found nearby.

The news comes amidst escalating global demand for battery minerals to power a global transition from fossil fuels to electricity.

The company said the scale of the find at such an early stage provides a “major upside.”

“These highly encouraging nickel-copper-cobalt and scandium intersections are a fantastic start to developing our understanding of the Hilditch West target,” managing director Tim Wither said.

“Hilditch West is now a very compelling nickel-sulphide target and will be bolstered by the recent geophysics programme which overlaps the target.

“We are eagerly awaiting electromagnetic modelling which may guide us towards a potential source of the sulphide mineralisation.”

Maximus said geophysical modelling of data would be available in the coming weeks.

The company’s Australian Stock Exchange-listed shares gained 4.17 per cent, finishing the day at 7.5c at market close.

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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