viewMaximus Resources Ltd

Maximus Resources hits broad alteration zones in drilling of prospects at Spargoville

An RC drilling campaign has been completed at the S5 gold prospect and Redback linking structure with several holes recorded as having broad zones of alteration.

Maximus Resources Ltd - Maximus Resources hits broad alteration zones in drilling of prospects at Spargoville
View looking over Wattle Dam Gold Mine with Maximus prospects to the SSW.

Maximus Resources Ltd (ASX:MXR) has completed a reverse circulation (RC) drilling and reconnaissance program at gold prospects within the Spargoville tenements in WA’s Goldfields with broad alteration zones intersected.

The program was testing the S5 prospect and a potential linking structure between the previously mined high-grade Wattle Dam Gold Mine and the company’s Redback gold deposit.

Significant broad zones of alteration were recorded on several completed RC holes within the 100%-owned tenements around 24 kilometres from Kambalda, Western Australia’s premier gold and nickel mining district.

S5 prospect drill campaign

The company completed nine-holes for 1,158 metres at S5 prospect and these samples have been submitted for assay and results are expected in mid-December.

Several of the completed holes contained fuchsite alteration in broad sections, indicating that the Western Shear Zone, 300 metres south of the high-grade Wattle Dam Gold Mine has been subjected to hydrothermal fluids.

Fuchsite is a chrome-rich mica, resulting from alteration of mafic rocks and is an indicator of significant fluid flow and hydrothermal activity, associated with the formation of structurally controlled ore bodies.

Fuchsite alteration is observed in hydrothermally altered shear zones within the high-grade Wattle Dam Gold Mine open pit.

Previous drilling at S5 returned a mineralised interval of 3 metres at 83.3 g/t gold from 25 metres comprised the presence of fuchsite and sericite alteration.

Redback linking structure campaign

The company also completed a reconnaissance RC program, testing a potential linking structure between the previously mined high-grade Wattle Dam Gold Mine, and the 440,000 tonnes at 3 g/t gold Redback deposit.

A total of nine RC holes for 1,464 metres was completed at the Redback linking structure.

During the campaign, water was encountered in the deeper 300-metre RC holes, reducing the viability of accurate and representative samples.

A decision was made to drill to a depth of 100-200 metres as pre-collars and complete the remaining planned drill holes utilising a diamond drill rig.

The remaining 850 metres will be completed during the company’s upcoming diamond drill program, schedule to commence early next month.

Quick facts: Maximus Resources Ltd

Price: 0.135 AUD

Market: ASX
Market Cap: $16.44 m

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events


The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Maximus Resources Ltd named herein, including the promotion by the Company of Maximus Resources Ltd in any Content on the Site, the Company...


Maximus Resources reports 'outstanding' high-grade gold intersection at S5...

Maximus Resources Ltd’s (ASX:MXR) (FRA:M5F) Tim Wither caught up with Proactive's Andrew Scott after announcing that reverse drilling at its S5 Prospect, 300 metres south of the historic high-grade Wattle Dam Gold Mine, has intersected high-grade gold. The strong results include 32 metres at 3.2...

5 days, 6 hours ago

2 min read