- Maximus Resources (MXR) has intersected visible gold within the diamond drill core at its Redback Gold deposit in WA
- The current diamond drill series has started the second phase of work, targeting resource diamond drilling, infill drilling and resource extensions at Redback
- The previous drilling intersected 16.3 metres at 9.3g/t gold from 229 metres, including 5.8 metres at 17.9g/t of gold
- Previous holes demonstrated a strong potential for high-grade gold mineralisation at the depth of 500 metres, 200 metres deeper than the Wattle Dam Mine
- Maximus shares have risen 12.1 per cent and are trading at 6.5 cents a share
Maximus Resources (MXR) has intersected visible gold within the diamond drill core at its West Australian Redback Gold deposit.
The diamond holes were co-funded under the West Australian Government Exploration Incentive Scheme (EIS).
The current diamond drill series has started the second phase of work, targeting resource diamond drilling, infill drilling and resource extensions at Redback.
A two-hole drill program was designed to test the down-dip extent of the gold deposit, where the previous drilling in 2021 intersected 16.3 metres at 9.3 grams per tonne (g/t) of gold from 229 metres, including 5.8 metres at 17.9g/t of gold.
Previously completed holes demonstrated a strong potential for high-grade gold mineralisation at the depth of 500 metres, 200 metres deeper than the Wattle Dam Mine.
“It is fantastic to see this amount of visible gold in one of the completed WA co-funded EIS drill holes, and broad zones of heavily altered ultramafic host rocks, 300 metres below the known Redback gold deposit,” Managing Director Tim Wither said.
“The observed alteration and mineralisation intersected are highly encouraging, being analogous with that observed at both Redback and Wattle Dam gold deposits.
“Our confidence continues to grow that Redback has the near-term potential to be developed into another high-grade gold mine in the Wattle Dam corridor”.
Maximus shares have risen 12.1 per cent and are trading at 6.5 cents a share at 12:07 pm AEDT.