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Maximus shows golden potential at Wattle Dam

9 November 2021 10:15
ASX: MXR

Maximus Resources has announced drilling at its Wattle Dam Redback gold deposit has returned multiple high-grade results that demonstrate the site’s soaring potential. 

The results confirm the shallow mineralisation for the junior mining explorer, meaning the site could potentially be amenable to open-pit mining in the future. 

The grades were received from 920-metre drilling during the September 2021 quarter, testing high-grade gold shoots at shallow depths.  

The company said exceptional wide, and high-grade gold intersections confirm the Wattle Dam area’s potential. 

“The latest drilling results further support the commencement of our second phase resource drill programme at Redback,” managing director Tim Wither said. 

“The programme encompasses two Exploration Incentive Scheme holes which have the potential to double the known down-dip extent of mineralisation at Redback and provides insight into the geological controls of mineralisation across the greater Wattle Dam area, invaluable for future resource drill programmes.” 

An additional drill programme of approximately 2000m will target infill and resource extensions following completion of the EIS drill holes. 

This second phase of the programme aims to provide the data to complete a mineral resource update and subsequent studies. 

The company’s Australian Stock Exchange-listed share price was trading at 7.3c (11:27am UTC+ 8 hours) 

 

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