Maximus Resources Limited (ASX:MXR) (FRA:M5F) is encouraged by the observation of multiple semi-massive sulphide zones in the completed initial diamond drill hole at Wattle Dam East nickel target within the company’s Spargoville tenements in WA.
Multiple zones were intersected in drill testing of an electromagnetic (EM) anomaly comprising a strong late-time conductor (in the order of 6000-8000 Siemens) starting from 150 metres below surface.
Following these positive observations, the company intends to complete a downhole electromagnetic survey over the coming weeks with the aim to vector in on more conductive domains in search of massive sulphides related to this large conductor.
“Validates belief in target's potential”
Maximus managing director Tim Wither said: “The observations from the maiden diamond drill hole at Maximus’ Wattle Dam East are highly encouraging.
“Having the first drill hole intersect zones of sulphides, located coincident and proximal to the modelled EM conductor between two known nickel deposits, validates our belief in the potential for the Wattle Dam East target to host nickel sulphide mineralisation.
“The opportunity for a potential nickel discovery at Spargoville is an added bonus for Maximus and our shareholders, as we continue to build our gold resources around the historical high-grade Wattle Dam Gold Mine.”
DHEM survey and geochemical analysis
Follow-up DHEM will determine the potential for more conductive domains and search for massive sulphides related to this anomaly within around 150-200 metres of the drill hole.
This will be undertaken in conjunction with testing of the basal contact, which is the stratigraphic position for potential Kambalda-style Komatiite-hosted nickel sulphide mineralisation, with the tenements just 25 kilometres from BHP Group Ltd’s (ASX:BHP) (NYSE:BHP) Kambalda Nickel Operation.
Further assessment of the nature of this sulphide discovery at Wattle Dam East will be possible on receipt of the full geochemical analysis, including testing for precious metals.
Wither said: “On the back of successfully hitting sulphides, the interim results warrant our next steps to complete a DHEM survey over the coming weeks and fast-track geochemical analysis of the completed diamond hole to progress the Wattle Dam East Nickel prospect.”
The DHEM survey crew has been engaged with the survey expected to be completed this month.
Preliminary Interpreted geology of drill-hole WDEDD001.
Looking forward
The company plans to complete the following works at the Wattle Dam East nickel target:
- DHEM – Downhole EM (DHEM) survey crew has been engaged and is scheduled to complete DHEM survey in March 2021;
- Geochemistry – Drill core will be sampled and analysed for base and precious metals, as well as an extensive multi-element suite with the Lithogeochemistry expected to provide confirmation that the mafic/ultramafic rocks intersected, are the host-rocks to nickel mineralisation as recognised in the Kambalda district; and
- Diamond drill – A follow-up drill program will be considered after collection of the DHEM survey and analysis of the geochemical results.