Maximus Resources Limited’s (ASX:MXR) field geological mapping and review of the Hilditch Gold Project within the company’s northern Spargoville tenements in Western Australia have outlined an extensive alteration domain.
Review of a geochemical dataset has highlighted distinct gold anomalies over 5.2 kilometres of strike within the Hilditch Project area with the alteration domain mapped at more than 250 metres of strike and in excess of 30 metres wide.
Ongoing field mapping and data integration are expected to provide targets for a drilling program at Hilditch in the first half of 2021.
Hilditch Gold Project
The Hilditch project comprises a modest JORC 2012 inferred resource of 132,000 tonnes at 1.77 g/t gold for 7,480 ounces and this resource only occupies a small part of the coincident soil anomaly.
This resource has only been drill tested to less than 100 metres below the surface and Maximus is confident of increasing the resource with further exploration.
Field geological mapping of Maximus’ northern Spargoville tenements identified an extensive alteration domain comprising of fuchsite altered volcanic.
This alteration has formed along with an interpreted structural trend to the north of the Hilditch gold deposit and west of Hilditch nickel prospect.
The strong fuchsite alteration was around 1-kilometre north of the known Hilditch gold resource and observed throughout various historical auger spoils, drill-cuttings and costeans.
This alternation domain was mapped over an extent of more than 250 metres strike in north-south direction and over 30 metres wide, in the available exposures.
Observed alteration zones are determined to be proximal to the contact between the Paringa Basalt and overlying Black Flag volcanic rocks.
Several grab samples were taken during the field trip and have been submitted to an analytical laboratory for multi-element assays.
Spargoville mineralisation
Following an internal review, the company is confident that the Spargoville Shear Zone, which manifests as an anastomosing shear array, has focused gold mineralisation in the northern reaches of the Spargoville Project.
The majority of gold anomalism along this belt is within 500 metres of the Paringa Basalt-Black Flag Volcanics contact, indicating an underlying deformational feature which is coincident or proximal with the contact.
Forward plan
The company plans to ramp-up ongoing field geological mapping to increase geological understanding and interpretation of the Hilditch area.
It is planning a reverse circulation (RC) drill program to test the extension of the Hilditch gold resource and across several peripheral gold targets in the first half of 2021.
The company has also engaged an independent data specialist to consolidate multiple historic datasets, which will allow further interrogation of the existing data for gold and nickel prospectivity.
Director thanked
Maximus has thanked non-executive director Kevin Malaxos for his contribution after his resignation from the company came into effect today.
Malaxos joined Maximus as managing director on December 10, 2010, and retired on November 30, 2019, at which time he was appointed non-executive director ensuring an effective transition for the incoming managing director.
Maximus acting chairman Gerard Anderson said: “Kevin leaves the board and Maximus on excellent terms and we thank him for his significant contributions since joining the company in December 2010.
“We wish Kevin every success in his future endeavours.”