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Maximus Resources (ASX:MXR) is anticipating a resource upgrade at its Eagle’s Nest gold deposit in Western Australia, with a recent drilling program picking up multiple intersections both shallow and high-grade in quality.
These included 10 metres at 2.24 grams per tonne (g/t) of gold from 37 metres, including two metres at 2.71g/t from 38 metres and three metres at 3.88g/t from 44 metres in one hole; and seven metres at 2.01g/t of gold from 22 metres, including three metres at 3.21g/t from 26 metres.
Of significance is the fact this mineralisation was identified in areas previously untested; it provided lateral extensions that pushed beyond Maximus’ current model.
The drilling program had two main components: 11 reverse circulation holes (for 732 metres) which focused on confirming past drilling in areas of shallow mineralisation within the deposit’s optimised pit shell, as well as targeting areas with no defined mineral resources.
A second component sought to draw on rock chip results in May 2024 which indicated grades of up to 9.9g/t with the Eagle’s Nest Groundlark gold corridor. Maximus drilled three scout holes (for 228 metres) at anomalies defined by this rock chip sampling.
Eagle’s Nest is part of the company’s Wattle Dam gold project and holds a resource of 42,550 ounces at 2.0g/t.
Maximus was trading at 6.2cps at 1:03PM AEDT after a 1.59% decline.
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