viewMaximus Resources Ltd

Maximus Resources begins drilling gold targets adjacent to high-grade Wattle Dam mine

The company believes there is potential in testing structures adjacent to the mine and increasing knowledge of the structural controls of gold occurrences within the area.

Maximus - Maximus Resources begins drilling gold targets adjacent to high-grade Wattle Dam mine
Wattle Dam Gold Mine and Maximus prospects to the SSW which are the focus of RC drilling.

Maximus Resources Limited (ASX: MXR) has started a follow-up reverse circulation (RC) drilling program at S5 target, 300 metres south of the high-grade Wattle Dam Gold Mine within Maximus’ 100%-owned Spargoville tenements in WA.

The RC drill program will consist of seven to nine holes for around 1,100 metres with potential to increase as the work progresses.

MXR’s Spargoville tenements are around 24 kilometres from Kambalda, Western Australia’s premier gold and nickel mining district.

On completion of this campaign, the RC rig will move to complete around 2,300 metres of reconnaissance drilling testing a potential linking structure between the previously mined high-grade Wattle Dam Mine and the 440,000 tonnes at 3.0 g/t gold Redback deposit.

“Huge potential”

Maximus’ managing director Tim Wither said: “Following a short delay outside our control, the commencement of the RC programs at both the S5 target and a potential linking structure between Redback and Wattle Dam is very exciting for the company.

“With the initial work completed by the newly established geology team, there is huge potential in investigating previously untested structure adjacent to the high-grade Wattle Dam mine and building our knowledge base of the structural controls of gold occurrences within the immediate area.”

S5 target

Aircore drilling at S5 constituted an initial reconnaissance program evaluating an interpreted structural flexure within the Spargoville shear zone.

This reconnaissance drilling intersected:

  • 3 metres at 83.3 g/t gold from 25 metres, including 1-metre at 245 g/t; and
  • 22 metres at 0.6 g/t from 12 metres including  1-metre at 1.9 g/t from 16 metres,  1-metre at 2.2 g/t from 22 metres, 1-metre at 1.8 g/t from 26 metres and 1-metre at 1.9 g/t from 34 metres.

Gold mineralisation within drill holes adjacent to S05AC001 and S05AC002 show a broader lower grade gold anomaly that remains open to the north-northeast.

The RC drill program at S5 target will consist of seven to nine holes and the company expects initial assays will start coming in from mid-December 2020.

Redback deposit

The Redback gold deposit is about 600 metres SSE of the previously mined Wattle Dam Gold Mine on Maximus tenement M15/1101.

This deposit remains open along strike to the north-northwest and down plunge.

Local geology at Redback is similar to that observed at Wattle Dam Mine with gold mineralisation hosted within deformed ultramafic lithologies.

The company has planned a reconnaissance RC program to test the prospective corridor between this deposit and Wattle Dam Mine.

This will be an initial 9-hole program for around 2,300 metres.

Drilling will be undertaken on 100 metres x 100 metres spacing over the 600 metres between the known mineralisation at Redback and the Wattle Dam pit.

Quick facts: Maximus Resources Ltd

Price: 0.135 AUD

Market: ASX
Market Cap: $16.44 m

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