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Maximus twin campaign returns golden results

25 May 2022
ASX: MXR
Jack Baker

Maximus Resources reverse circulation drilling has increased the scale and near term potential of the Redback and Golden Orb prospects, part of the Wattle Dam project near Kambalda in the heart of Western Australia’s Goldfields.

High-grade gold intersections have increased the potential for discovering additional mineralised zones beyond the known Golden Orb mineralised envelope.

The results have added weight to the suggestion that open-pit mining of the greater Wattle Dam project after drilling uncovered high-grade intersections and fresh gold zones.

The company said results confirmed Redback was open at depth and along strike.

“The completed programme continues to return wide, high-grade gold domains, demonstrating the near-term potential for Redback to be developed into another high-grade gold mine,” managing director Tim Wither said.

The company will move on its Redback Mineral Resource Estimate update after drilling and await assays from the Hilditch gold and nickel project.

Notable Intercepts

Golden Orb

  • 6m @ 8.8 g/t Au from 198m

Redback

  • 6m @ 4.7 g/t Au from 127m
  • 18m @ 2.3 g/t Au from 230m

MXR’s Australian Stock Exchange-listed share price was trading at 7.1c today (12.14 pm 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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