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Maximus unearth fresh gold priority

16 June 2022

ASX:MXR

Jack Baker

Maximus Resources have hit several shallow, high-grade intercepts from a first pass drilling campaign over its Hilditch Gold Project in the fertile Spargoville shear zone southwest of Kambalda in Western Australia.

The program moves Hilditch up in priority and has the potential to provide a material resource upgrade from a now-expanded mineralised envelope.

Hilditch lies just nine kilometres north of the explorer’s Wattle Dam project, which has continued to increase in the potential for both scale and near-term production from the heart of Western Australia’s Goldfields.

Hilditch Gold location map

The company said it was an encouraging first pass over one of its highly prospective Spargoville gold deposits.

“Hilditch is ideally located on the fertile Spargoville Shear Zone, between Karora Resources’ high-grade Spargo’s Reward and Maximus’ Wattle Dam Gold Project,” managing director Tim Wither said.

“The drill programme successfully expands Hilditch’s mineralised envelope, testing both plunge at depth and strike length, and builds confidence further drilling is warranted.”

Maximus will meanwhile finalise approvals for its drilling campaign targeting the corridor between the Wattle Dam and Golden Orb projects.

Significant results:

7m @ 7.9 g/t Au from 51m

7m @ 3.7 g/t Au from 11m

6m @ 3.4 g/t Au from 30m

2m @ 4.3 g/t Au from 70m

4m @ 2.1 g/t Au from 79m

MXR’s Australian Stock Exchange-listed share price has risen 4.17 per cent today, selling at 5c (8.57 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
maximusresources.com

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