Maximus Resources Ltd (ASX:MXR) has intersected zones of intense biotite alteration from its completed drill program at the Wattle Dam Gold Project in Western Australia.
The company's initial drill program aimed to identify potential structural offset from the high-grade Wattle Dam Gold Mine.
Notably, drilling has confirmed the presence of a similar geological sequence and alteration assemblage as seen within the Wattle Dam main lode.
Following a project-wide geological review, an update to the project's mineral resource is underway and is expected to be completed during this quarter.
Drill program
The first phase of drilling consists of two reverse circulation (RC) holes and a single diamond drill hole with an RC pre-collar for 1,430 metres.
Within the planned target horizon, all drill holes successfully intersected highly altered komatiite rocks exhibiting strong biotite-actinolite alteration.
This is accompanied by significant quartz-carbonate alteration and thin interflow shales, as seen within high-grade mineralisation at Wattle Dam Gold Mine, validating the potential for a structural offset of the mineralisation.
Forward plan
Maximus is awaiting assays for the completed drill program, which are expected by the end of this month.
Following the receipt of the assay results and multi-element assays, a second phase of drilling will be reviewed.
Meanwhile, the geological review of the Wattle Dam Gold Project, an update to the geological modelling and the Mineral Resources Estimation (MRE) were recommended.
The MRE update is progressing and is expected to be completed during this quarter.
It is anticipated that the updated MRE will highlight areas that do not have sufficient drill density and will be used for exploration planning purposes to continue to grow resources in the company’s Wattle Dam Gold Project.