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- Maximus Resources (MXR) has completed reverse circulation (RC) drilling at its S5 gold prospect, Wattle Dam Gold Mine, and Redback gold deposit in WA
- The company began drilling at the S5 prospect in early November to follow-up on previous work, which intersected up to 83.3g/t gold
- Nine holes have now been drilled and samples have been submitted for assay, with results expected in mid-December
- Maximus has also completed drilling at the Wattle Dam Gold Mine and Redback gold deposit which tested a potential linking structure between them
- Nine RC holes were drilled, however, water was encountered in the deeper holes which reduced the viability of the samples
- As a result, a decision was made to complete the remaining holes using a diamond drill rig with work scheduled to begin in early December
- Maximus has ended the day 11.1 per cent in the green with shares trading at 15 cents
Maximus Resources (MXR) has completed reverse circulation (RC) drilling at its S5 gold prospect, Wattle Dam Gold Mine and Redback gold deposit.
All of these lie within Maximus’ Spargoville tenements which are located 24 kilometres from Kambalda in Western Australia’s premier gold and nickel mining district.
Maximus began RC drilling at the S5 prospect in early November to follow-up on on previous work which intersected three metres at 83.3g/t gold from 25 metres.
Nine RC holes, for 1158 metres, have now been drilled with all holes completed to the planned depth.
Samples have been submitted for assay and results are expected in mid-December.
Several of the holes contained fuchsite alteration which is an indicator of significant fluid flow and hydrothermal activity.
Maximus has also completed drilling at the Wattle Dam Gold Mine and Redback gold deposit which tested a potential linking structure between them.
Nine RC holes, totalling 1464 metres, were drilled, however, water was encountered in the deeper holes which reduced the viability of the samples.
As a result, a decision was made to complete the remaining holes using a diamond drill rig with work scheduled to begin in early December.
The diamond tails are a preferred option as they gain significantly more geological information and are cost-effective.
Maximus has ended the day 11.1 per cent in the green with shares trading at 15 cents in a $16.18 million market cap.
