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Maximus drills for a major discovery at Hilditch West

15 October 2021
ASX: MXR
Rueben Hale

Maximus Resources is targeting a large-scale mineral discovery, kicking off drilling across 7000 metres of exciting ground containing highly anomalous nickel-copper-cobalt and scandium interceptions at the Hilditch West nickel project in the prolific Kambalda nickel district in Western Australia.

The company said the interception, identified across three drill sections covering 500 metres of strike. opens the opportunity for a significant discovery.

“The team are excited to commence our 7,000-metre multi-target diamond drill campaign starting at the exciting Hilditch West nickel target,” said managing director Tim Wither.

The drill program targets the centre of a strong late-time conductor and coincident magnetic high, along strike identified from July nickel-copper-cobalt drill intersections.

The July drilling successfully intersected shallow, highly anomalous nickel-copper-cobalt and scandium intercepts across three drill sections covering 500 metres of strike.

The junior mining explorer has 48 square kilometres of tenements across the fertile Spargoville shear zone in Western Australia that is considered highly prospective for komatiite-hosted nickel sulphide mineralisation.

Nickel is close to ten-year highs and up 23.8 per cent this year, trading at just under $US19,000 per tonne.

“Hilditch West is a very compelling target, having the key signatures of a magnetic high anomaly, a strong late-time EM conductor and in an area of proven nickel sulfide mineralisation, provides an ideal setting for a Kambalda-style nickel sulfide discovery,” Mr Wither said.

The company expects drilling at Hilditch West to take two weeks. Following that, the drill rig will move to Maximus’ Redback Gold deposit to begin drilling two deep drill holes designed to test the down-dip plunge continuation of gold mineralisation.

Maximus said there was also potential to materially extend the down-plunge extent of mineralisation at Redback.

The company’s Australian Stock Exchange-listed price is trading at 8c today (7:15 am GMT + 8 hours).

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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