Proactive’s Tylah Tully breaks down ‘Just the facts’ of the latest news from Maximus Resources Ltd (ASX:MXR, OTC:MXRRF).
Maximus has identified shallow high-grade gold mineralisation at the Eagles Nest deposit, 7 kilometres south of the Wattle Dam Gold Project in Western Australia’s Eastern Goldfields.
Recent reverse circulation (RC) drilling produced significant results, including: 10 metres @ 2.24 g/t gold from 37 metres, including 2 metres @ 2.71 g/t and 3 metres @ 3.88 g/t.
Additional scout drilling along the Eagle’s Nest–Groundlark corridor revealed promising anomalies, such as 1 metre @ 1.12 g/t gold and 8 metres @ 0.76 g/t gold.
The drilling program comprised 11 RC holes to validate historical data and assess shallow mineralisation, while scout drilling targeted untested zones within a 3-kilometre corridor.
Eagles Nest hosts an existing resource of 42,550 ounces at 2.0 g/t gold and remains open at depth and along strike. The shallow, free-milling nature of the mineralisation supports its potential as a low-cost and expedited development opportunity.
Further exploration, including additional drilling and resource modelling, is planned to evaluate the scale and economic potential of the deposit.