Maximus Resources Ltd (ASX:MXR)’s shallow reverse circulation (RC) drilling at Redback Gold Deposit within the Wattle Dam Project has returned multiple high-grade results, demonstrating the potential of the area.
The results confirm shallow mineralisation, potentially amenable to open-pit mining.
An additional drill program of around 2,000 metres is planned ahead of a mineral resource update and open-pit optimisation studies
Wattle Dam area potential
Maximus managing director said: ”The first phase of the Redback RC and diamond drill programs have returned some exceptional, wide, high-grade gold intersections, demonstrating the potential of the Wattle Dam area.
“The latest drilling results further support the commencement of our second phase resource drill program at Redback.
“The program includes two EIS holes, which have the potential to double the known down-dip extent of mineralisation at Redback and provides insight into the geological controls of mineralisation across the greater Wattle Dam Area, invaluable for future resource drill programs.”
Drill results
The 920-metre RC drilling campaign, completed during the September 2021 quarter, was undertaken to test the shallow extents of the Redback deposit high-grade gold shoot. which had insufficient drill-hole coverage.
The multiple high-grade results include:
7 metres at 7.0 g/t gold from 42 metres including 1-metre at 10.2 g/t from 44 metres and 2 metres at 10.2 g/t from 48 metres;
4 metres at 5.1 g/t from 26 metres including 1-metre at 13.8 g/t from 26 metres and 1-metre at 5.8 g/t from 29 metres; and
5 metres at 2.4 g/t from 41 metres including 1-metre at 6.6 g/t from 41 metres, 1-metre at 8.4 g/t from 56 metres.
Redback drill program
A 3,200-metre diamond drill program, starting with two deep EIS holes has commenced at the Redback deposit, within Maximus’ 100%-owned Spargoville tenements.
The Redback deposit, about 600 metres south-southeast of the previously mined high-grade Wattle Dam Gold Mine, has an existing JORC 2012 inferred resource of 440,000 tones at 3.0 g/t gold for 42,900 ounces.
Recent high-grade drill results of 16 metres at 9.3 g/t gold from 229 metres, including 5.8 metres at 17.9 g/t and the deepest drill intersections of 6.0 metres at 9.4 g/t from 257 metres including 3 metres at 17.2 g/t indicate the significantly high gold grades at Redback.
Redback mineralisation remains open along strike and down plunge.
The Western Australian Government EIS grant is co-funding two deep diamond drill holes designed to test the down-dip plunge continuation of the known Redback gold mineralisation about 450 metres below surface.
Following the completion of the EIS drill holes, a ~2,000-metre drill program will commence across the Redback Gold Deposit, targeting infill and resource extensions.
The aim of the second phase of the Redback resource drill program is to provide adequate data to complete a mineral resource update and subsequent studies.