Maximus Resources Ltd’s (ASX:MXR) (FRA:M5F) reverse drilling campaign at its S5 Prospect, 300 metres south of the historic high-grade Wattle Dam Gold Mine, in Western Australia’s premier gold and nickel mining district, has intersected high-grade gold.
The strong results included 32 metres at 3.2 g/t gold and within this was 6 metres at 3.1 g/t from 105 metres including 2 metres at 6.8 g/t as well as 13 metres at 5.9 g/t from 118 metres, including 2 metres at 6.5 g/t, 5 metres at 10.9 g/t and 2 metres at 3.8 g/t.
The wide intersection shows similar tenor and widths of the historic high-grade Wattle Dam Gold Mine.
Gold mineralisation remains open down plunge and to the north.
Follow-up diamond drill holes testing further strike and plunge extension of the S5 Prospect will be included in the current diamond drill program.
Amazing start for new geology team
Maximus managing director Tim Wither said: “These results have been an amazing start for the new geology team at Maximus.
“The broad high-grade gold assays within S05RC007 for an overall intersection of 32 metres at 3.2 g/t gold, shows similar tenor and widths of the initial drilling campaigns as the historic high-grade Wattle Dam Gold Mine located only 300 metres north and along strike of the S5 Prospect.
“The geological setting of hole S05RC007 increases confidence in the company’s belief that Wattle Dam Gold Mine, Redback, Golden Orb and now S5 are part of a much larger inter-linking mineral system.
“We are currently testing this concept with the project scale diamond drill program currently underway at the Redback Deposit.”
S5 drill results
The completed RC program comprising nine holes for 1,158 metres was drilled during November 2020.
Due to increased exploration activities in Western Australia, assay turnaround times have been extended.
Maximus believes there is excellent potential to identify short strike length high-grade Wattle Dam-type gold deposits close to the Wattle Dam Gold Mine.
Significantly, the S5 Prospect lies between Wattle Dam Gold Mine and the Redback Deposit, potentially providing the economic justification to utilise the existing Wattle Dam mine infrastructure to access and develop the Redback gold resource and any future resource at S5.
Five diamond drill holes are planned and will be included into the DD program, which is progressing at the company’s Redback Deposit, completing infill and extension drilling, and testing a potential Redback Linking Structure to Wattle Dam Gold Mine.
It is expected that the diamond drill holes at S5 Prospect will be completed in March 2021, following drill programs at Redback, Redback Linking Structure, Wattle Dam South, Golden Orb and potential drill holes at the Wattle Dam East Nickel target following positive ground geophysics results.