Maximus Resources is focused on a Kambala-style nickel discovery, kicking off a large scale study of its Central nickel prospect near BHP’s nickel concentrator in Kambalda, Western Australia.
As nickel remains at near-record highs, The Kambalda-focused explorer will use funds from a recent $12 million capital raising to undertake an electromagnetic geophysics survey of the site located within its premier nickel and gold mining tenements.
The company said it had secured the use of the latest technology capable of delivering high-quality data from deep underground to assist with making a large-scale discovery.
“The commencement of the major electromagnetic survey across the highly prospective Central nickel target is an exciting step forward for the company’s dual commodity strategy,” managing director Tim Wither said.
“This is the first time in almost 20 years that modern high-powered ground EM surveys have been undertaken across the Central nickel prospect, which is amazing considering the highly-prospective stratigraphy located between two significant historic high-grade nickel mines; Andrews Shaft and 1A.”
Maximus expects the survey to take three weeks with modelled results to follow in due course.
The company’s Australian Stock Exchange-listed shares had risen 3.57 per cent today, trading at 8.7c (10:15 am GMT+ 8 hours).