Maximus Resources Ltd (ASX:MXR) has intersected high-grade gold mineralisation with multiple occurrences of visible gold in a 7,000-metre combined diamond and reverse circulation (RC) drill program at Redback deposit and Golden Orb prospect within the Wattle Dam Project in the prolific Kambalda region of Western Australia.
Drilling also intersected high grade and visible gold outside the known Golden Orb mineralised envelope returning 6 metres at 8.8 g/t gold from 198 metres including 3 metres at 14.2 g/t, adding exploration potential for the discovery of further high-grade domains within the project.
Further, Maximus has confirmed mineralisation continuity in the second phase of a resource drill program at Redback, from surface to 270 metres vertical depth with intersections including:
- 6 metres at 4.7 g/t gold from 127 metres including 3 metres at 8.2 g/t;
- 18 metres at 2.3 g/t from 230 metres including 4 metres at 4.3 g/t and 5 metres at 2.4 g/t; and
- 5 metres at 1.7 g/t from 39 metres, including 1-metre at 3.4 g/t and 5 metres at 2.2 g/t including 2 metres at 3.9 g/t.
Looking ahead, the drill program will support a mineral resource estimate (MRE) update at Redback, with focus on development options for the Wattle Dam Project.
Aerial view of Wattle Dam projects and gold prospects.
“High-grade gold domains”
Maximus managing director Tim Wither said, “the completed Redback RC and diamond drill resource program continues to return wide, high-grade gold domains, demonstrating the near-term potential for Redback to be developed into another high-grade gold mine in the Wattle Dam Project area.
“These results also include further Western Contact mineralisation, confirming Redback is open at depth and along strike.”
“It is also encouraging to receive the high-grade gold intersection from initial drilling at Golden Orb, which benefited from the learnings from previous drill programs at the S5 prospect, ~200 metres to the north.
“The 6 metres at 8.8 g/t gold intersection is outside the interpreted mineralisation envelope and at the prospective margin of the Western Shear zone and provides confidence in progressing future drill programs planned along the fertile Wattle Dam corridor.”
Golden Orb/Redback Project cross-section.
Drill program
Completed resource drilling forms part of Maximus’ near-term strategy aimed at building value by increasing gold resources across the Wattle Dam Project area.
The company intends to leverage existing mine infrastructure at Wattle Dam Gold Mine and potential toll treating at several processing plants within a 100-kilometre radius, including Pantoro Limited's Norseman Gold Project processing plant, which is under construction and is expected to be commissioned during the September quarter.
Gold mineralisation at Redback has been interpreted as subparallel and near-vertical domains, largely controlled by porphyry/ultramafic contacts.
Notably, Redback remains open at depth and along strike.
Redback and Wattle Dam longitudinal section showing completed assay results from recent drill program
Forward plan
Following the completion of the resource drilling program, Maximus will begin an MRE update, aimed at increasing the Redback gold resource and defining high-grade domains within the mineralisation system.
In anticipation of a positive MRE update, the company is progressing geotechnical review and metallurgical test-work at Redback to be incorporated into development studies.
A planned RC campaign in the coming month aims to test gaps in drilling (below 40 metres from surface) south of Wattle Dam, along the corridor.
Furthermore, with the new results at Golden Orb, additional drilling is planned to further test the potential of a discrete high-grade shoot at Golden Orb, which is ~200 metres west of the Redback deposit resource.