Maximus Resources Ltd (ASX:MXR) (FRA:M5F) has begun resource extension and infill RC drilling at its Larkinville Project, around 5 kilometres southwest from the Wattle Dam Gold Project.
The 1,500-metre program is designed to improve the confidence of the mineral resource for the development study and test areas of open mineralisation along strike and down-dip.
It is part of the company’s ~4,000-metre multi-target RC drilling program targeting several near-mine and regional exploration gold targets across its Spargoville tenements, including mineral resource drilling for Wattle Dam Stockwork.
Previous thick high-grade intersections
The Larkinville mineral resource estimate totals 119,700 tonnes at 3.02 g/t for 11,600 ounces (7,450 tonnes at 4.6 g/t for 1,100 ounces inferred and 112,250 tonnes at 2.91 g/t for 10,500 ounces indicated).
The program will test potential down-plunge extensions of previously reported thick high-grade gold intersections, including:
- 20 metres at 3.1 g/t gold from 30 metres; and
- 13 metres at 5.2 g/t from 34 metres.
Drill samples will also be retained for metallurgical test-work as required for completion of the development study.
Larkinville long section - looking east showing planned drill holes and mineral resource outline.
Low-cost development opportunity
Having a shallow, majority oxide resource, reducing expensive drill and blasting costs, Larkinville presents a rapid, low-cost development opportunity for the company.
Drilling at Larkinville is part of the near-term production strategy, with Maximus progressing all necessary work to complete a development study and submission for a mining proposal to the Department of Mines, Industry Regulation and Safety (DMIRS).
Development study work also includes the completion of flora and fauna surveys, which are currently being finalised.
Notably, the company has completed drilling at Yilmia, with assays expected in the coming weeks.