Maximus Resources Ltd (ASX:MXR) has received strong gold intersections of up to 10.5 g/t gold within wide zones of mineralised stockwork at S5 prospect around 300 metres south of the historic high-grade Wattle Dam Gold Mine in Western Australia.
The reconnaissance program of six diamond drill holes for 901 metres outlined extensions to the mineralised system identified in the company’s maiden reverse circulation (RC) drill program.
Maximus believes the extensions of gold mineralisation along the interpreted Western Shear Zone are very encouraging and warrant further drilling.
Notable results include 10 metres at 1 g/t gold from 76 metres, including 1-metre at 7.3 g/t, and 7.5 metres at 1.1 g/t from 94.5 metres, including 1-metre at 5.7 g/t.
Other intersections comprise 9 metres at 1.2 g/t from 162 metres, including 1-metre at 5.7 g/t, and 21.2 metres at 0.8 g/t from 129 metres, including 1-metre at 10.5 g/t.
“Geologically compelling”
Managing director Tim Wither said: “These diamond drilling results have defined a mineralised extension from the S5 prospect discovery hole of 32 metres at 3.2 g/t, highlighting broad zones of stockwork with high-grade intervals up to 10.5 g/t gold.
“Drill core at S5 prospect has been geologically compelling, with wide zones of alteration up to 61 metres of mineralised carbonate-tremolite-quartz vein stockwork observed, similar to the alteration at Wattle Dam, only 300 metres to the north.
“S5 prospect was previously unknown due to the wide-spaced shallow legacy drilling, highlighting the potential for more high-grade Wattle Dam type discoveries.
“Final assays from the first phase of drilling at Redback and diamond drill hole testing plunge extension for the Wattle Dam South ore zone are expected to be received shortly.
“We look forward to receiving these results and, in conjunction with the commencement of Wattle Dam mineral resource to continue building our understanding of the structural controls within the greater Wattle Dam Area to assist in planning our next phase of drilling.”
Visible gold at 80 metres depth in drill hole S05DD003.
The S5 prospect stockwork is similar in that observed at Wattle Dam Gold mine and is to be expected given the proximity to Wattle Dam.
Wattle Dam stockwork is characterised by mineralised carbonate-tremolite-quartz vein within a competent rock mass on the western shear zone of Wattle Dam.
Forward plan at Wattle Dam
- Drill results – Assays are pending for the completion of the first phase of resource expansion drilling at Redback and plunge extension for Wattle Dam South. Drilling results to be incorporated into geological database to assist understanding structural controls and utilised in future drill programs;
- Mineral resource estimate – a resource estimate comprising unmined mineralisation within the stockwork domain of the Wattle Dam Mine is planned to be completed in the coming months. Geological modelling of the known stockwork domain at Wattle Dam will assist in building geological understanding at the S5 prospect to define further exploration programs; and
- Exploration Drilling – work is underway finalising an exploration program designed to test near mine targets at Wattle Dam and two regional gold targets - Karramindie and Yilmia. Several drill pads are in preparation and commencement date with drilling contractors to be finalised shortly. The drill program is expected to take three weeks.