- Maximus Resources (MXR) intersects high-grade gold from reverse circulation (RC) drilling at the Redback deposit in Western Australia
- A total of 920 metres of drilling was undertaken to test the shallow extent of the high-grade gold shoot at Redback, which has been subject to insufficient drilling
- Grades peaked at 13.8 grams of gold per tonne and the results confirm shallow mineralisation, potentially amenable to open-pit mining
- A 2000-metre drilling program will now begin at Redback to target infill and resource extensions
- Shares in Maximus are down 1.33 per cent and are trading at 7.4 cents
Maximus Resources (MXR) has intersected high-grade gold from reverse circulation (RC) drilling at the Redback Deposit in Western Australia.
A total of 920 metres of RC drilling was undertaken to test the shallow extents of the high-grade gold shoot at Redback, which has been subject to insufficient drill testing.
New results include four metres at 5.1 grams per tonne (g/t) of gold, including one metre at 13.8 g/t gold, and seven metres at 7 g/t gold, including one metre at 10.2 g/t gold.
This drilling forms part of a 3200-metre diamond drilling program which began with two holes drilled under the exploration incentive scheme (EIS).
A 2000-metre drill program will now begin at Redback to target infill and resource extensions.
This drilling will aim to complete a mineral resource update and further studies.
“The latest drilling results further supports the commencement of our second phase resource drill program at Redback,” Managing Director Tim Wither said.
“The program includes two EIS holes which have the potential to double the known down-dip extent of mineralisation at Redback and provides insight into the geological controls of mineralisation across the greater Wattle Dam area, invaluable for future resource drill programs.”
Shares in Maximus were down 1.33 per cent and were trading at 7.4 cents at 12:55 pm AEDT.