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Coffee with Samso: The Wattle Dam story - Maximus Resources

Maximus Resources believes the Wattle Dam Project in the prolific Kambalda region of WA is a potential company-maker.

Coffee with Samso: The Wattle Dam story - Maximus Resources
Samso chats with Maximus Resources managing director Tim Wither

The Wattle Dam story of Maximus Resources Limited (ASX: MXR) comes with a bit of history. I actually made a weak attempt to bid for the project way back in 2009 on some of the adjacent tenements but that never came to pass.

In my opinion, within the Kambalda region, comparatively, the Wattle Dam area is one of the least active. There is no doubt that this whole region has been one of the best nickel hunting places. The Widgiemooltha Dome has been a classic hunting ground for nickel and this sits just south of the tenements held by Maximus Resources Limited.

In 2020, the mineral exploration sector experienced one of the best years for capital funding. If I am not wrong, I could go as far as saying that this is one of the best years of capital allocation in this sector for many decades. I feel that this rush for good projects has allowed companies to finally drill projects that could unearth the next bag of mines.

Broad zones of intercept confirms that the area has the potential to produce another Wattle Dam. The latest drill results of 16m @ 9.3 g/t and 5.8m @ 10.1 g/t confirms that there is another Wattle Dam to be discovered.

In this episode, Tim Wither tells us what is happening with the company and why he believes that the projects within the company are geared for better things to come. The exciting part is the potential for gold and nickel in a portfolio of tenements that have not had a lot of work done.

PODCAST

About Tim Wither

Managing director, Maximus Resources

Tim Wither is a mining executive with over 20 years’ experience in the resource sector, both domestically and internationally, with key involvement in the development of several greenfield base metal projects. Mr Wither has held various senior executive and strategic leadership roles in Australia, India, Africa, South America, with publicly listed companies on both the ASX and TSX.

Tim is a graduate of the Australian Institute of Company Directors and holds an MBA from Curtin Graduate School of Business,  Graduate Diploma of Mining, Graduate Diploma in Natural Resource Law, as well as a Bachelor of Science in Mine Engineering and Surveying from the WA School of Mines. He is also a candidate for Master of Commercial and Resources Law at University of WA.

About Maximus Resources

Maximus Resources (ASX:MXR) is a junior mining explorer with tenements located 20km from Kambalda, Western Australia’s premier gold and nickel mining district.

Maximus Resources' 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. The focus of Maximus Resources is the discovery of the next Wattle Dam Gold Mine.

Maximus Resources has been granted 48 sq km of mining licences and has gold rights across a further 60 sq km along the very fertile Spargoville Shear Zone, hosting multiple significant gold and nickel deposits.

Wattle Dam Gold Mine Project

The Wattle Dam gold deposit is one of Australia’s highest-grade gold mines, hosted in sheared and metamorphosed ultramafic rocks and interflow sedimentary units.

Historical production from Ramelius Resources (ASX:RMS) at Wattle Dam from 2008-12:

Open Pit 52,700oz gold @ 5.3g/t gold

Underground 213,650oz gold @ 14.9g/t gold

Total 266,350oz gold @ 10.6g/t gold 

The high-grade ore zones at the site are vertically plunging, 80-100m in strike length and 8-15m wide. Shallow operations have mined to 365m below the surface but the finding of coarse gold veins resulted in the geological modelling under-calling contained gold.

High-grade mineralisation

High-grade mineralisation within the Wattle Dam pit is associated with intense biotite alteration within komatiitic ultramafics.

Chlorite / biotite / amphibole ± sulphide alteration surrounding main ore zone 40-70m wide.

During mining operations at Wattle Dam areas of strong alteration and low assays were observed to contain coarse-free gold and subsequently mined to a geological envelope.

Deep drilling suggests the alteration associated with the Main Zone mineralisation extends to the Spargoville shear zone. This was modelled but never drill tested.

Other references

https://wcsecure.weblink.com.au/pdf/MXR/02341081.pdf

Please let us know your thoughts and send us any comment to info@Samso.com.au. Remember to Subscribe to our YouTube Channel, Samso Media and our mail list to stay informed and make comments where appropriate. Other than that, you can also give us a Review on Google.

For further information about Coffee with Samso and Rooster Talks visit: www.samso.com.au

Samso is primarily a consulting company that delivers digital information to the market in terms of creating organic content.

Samso simplifies your story to customers or investors. Samso creates organic content for you to engage your audience and BRAND yourself to them.

Samso provides bespoke research and presentation for clients to engage their customers or investors.

Organic content allows audiences to feel a real sense of sincerity when you share your business strategy, allowing your business to stand out among the sea of social media traffic.

Working with Proactive Group allows exposing our Insights to over 1.2 million monthly unique views internationally.

Samso has nearly 30 years of experience in developing business ideas and concepts in the Australasian region.

Samso has worked primarily in the mineral resources industry, capital markets and corporate finance. Noel Ong is the founder of SAMSO.

Disclaimer

Samso and affiliated companies accept no responsibility for any claim, loss or damage as a result of information provided or its accuracy. The information provided is general in nature, not financial product advice, see a financial expert before making any investment decision. Your personal objectives, financial situation or needs have not been taken into consideration. There may be a conflict of interest present with commercial arrangements with companies and/or stock held. Samso or an associate may receive a commission for funds raised.

Quick facts: Maximus Resources Ltd

Price: 0.09 AUD

ASX:MXR
Market: ASX
Market Cap: $10.96 m
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