- Maximus Resources (MXR) releases the first assay results from its 2200-metre combined diamond and RC first-pass drill program at its Hilditch gold project
- The program expands Hilditch’s mineralised envelope increasing target priority and providing high potential for material increase in gold resources
- Best results from the program include seven metres at 7.9 grams per tonne (g/t) gold from 51 metres including two metres at 16.9 g/t from 52 metres
- Additional interpretation of the Hilditch assay results, in conjunction with higher resolution magnetic data, is being undertaken for the planning of future drill programmes to expand the resource at the project
- Shares in Maximus Resources are down 3.33 per cent, trading at 5.8 cents as of 10:20 am AEST
Maximus Resources (MXR) has released the first assay results from its 2200-metre combined diamond and reverse circulation (RC) first-pass drill program at its Hilditch gold project in the Kambalda district of Western Australia.
The program has expanded Hilditch’s mineralised envelope increasing target priority and providing high potential for material increase in gold resources.
Best results from the program that defined shallow zones of broad gold mineralisation include seven metres at 7.9 grams per tonne (g/t) gold from 51 metres including two metres at 16.9 g/t from 52 metres.
Managing Director Tim Wither said the results are “very encouraging”.
“The drill program successfully expands Hilditch’s mineralised envelope, testing both plunge at depth and strike length, and builds confidence further drilling is warranted,” Mr Wither said.
“These results greatly increase the priority of Hilditch in the company’s focus on growing gold resources across the Spargoville tenements.”
A total of 16 holes — 15 RC and one diamond drill — were drilled at the project with the aim to incrementally extend the small resource at Hilditch which currently comprises a JORC 2012 inferred resource of 132,000 tonnes at 1.77 g/t gold for 7511 ounces of gold.
The high-grade intercepts are shallow and a significant amount of strike is yet to be tested with legacy rotary air blast drilling less than approximately 20 metres depth on average.
Additional interpretation of the Hilditch assay results, in conjunction with higher resolution magnetic data, is being undertaken for the planning of future drill programmes to expand the resource at the project.
The company is currently finalising approvals for an upcoming RC campaign at the company’s Wattle Dam Project, targeting the Wattle Dam/Golden Orb corridor, and additional drilling to test the potential of a discrete high-grade shoot at Golden Orb.
Shares in Maximus Resources were down 3.33 per cent, trading at 5.8 cents as of 10:20 am AEST.