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Maximus hit thick nickel

23 March 2022
ASX: MXR
Jack Baker

Maximus Resources have established the gathering of shallow mineralisation at its Hilditch West nickel target, part of the Hilditch gold and nickel prospect immediately south of Karora Resources’ high-grade Spargos’ Reward gold mine in Western Australia’s Eastern Goldfields.

The Exploration Incentive Scheme co-funded analysis supported previous intersections, including hits up to 1.5 per cent nickel over the 2080 metre drill programme at the site.

Additionally, structure-wide drilling gave weight to modelling, which interpreted nickel mobilised deep into the stratigraphy.

The company said the campaign would expand on successful scout drilling at the site.

“Initial observations at Hilditch West have indicated the infill and expansion programme has intersected the expected alteration including sulfides along the structure,” managing director Tim Wither said

Assay results are likely come in six to seven weeks as Maximus progress its large scale gold and nickel campaign.

MXR’s Australian Stock Exchange-listed price has risen 1.54 per cent today, selling at 6.6c (11.53 am 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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