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Maximus shows golden potential at Wattle Dam

9 November 2021
ASX: MXR
Jack Baker

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) 

 

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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