Maximus Resources (ASX: MXR) is now expected to report assay results within the month after the company hit mineralisation in seven new drillholes at its Spargoville gold project in Western Australia.
The program included a total of 809 metres to test for strike and depth extensions to known mineralisation in the project’s Eagles Nest, with visual logging of the drill chips by Maximus geologists confirming alteration and sulphides at the interpreted mineralised horizon.
All samples have been delivered to the assay laboratory for analysis with preliminary results anticipated within 21 days.
The process will ensure that all geological information collected is available for inclusion in a JORC-compliant resource estimate.
Maximus signed a farm-in agreement with Tychean Resources (ASX:TYK) in August to secure up to 90% of Spargoville within three years.
The project, located 70 kilometres south of Kalgoorlie and covers more than 11,000 hectares along the Spargoville Shear, encompassing the historic high grade Wattle Dam mine area.
The tenements are considered prospective for structurally controlled high grade gold deposits similar to Wattle Dam.
Within the region, the Spargoville Shear can be traced over a distance of some 30 kilometres and is a primary control on the location of the Wattle Dam gold deposit.
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