Maximus Resources Ltd (ASX:MXR) has intersected high-grade gold in a reverse circulation (RC) program targeting the Golden Orb/S5 trend at its Wattle Dam Gold Project in Western Australia, demonstrating the potential for mineral resource growth.
The 26-hole drill program across 4,100 metres was designed to test mineralisation controls and gaps in legacy drilling south of Wattle Dam Gold Mine, along the S5/Golden Orb corridor and following up previous mineralised zones.
The mineralisation intersected with high-grade intervals within broad zones includes:
- 11 metres at 3.8 g/t gold from 37 metres, including 1-metre at 11.5 g/t from 38 metres, 1-metre at 9 g/t from 42 metres and 1-metre at 4.3 g/t from 44 metres;
- 20 metres at 1.3 g/t from 160 metres, including 8 metres at 2.5 g/t from 166 metres and 3 metres at 4.4 g/t from 170 metres; and
- 3 metres at 4.2 g/t from 20 metres, including 1-metre at 9.6 g/t from 21 metres.
Notably, the completed drill program demonstrates the potential to significantly increase the scale of Wattle Dam.
What’s more, due to the proximity of the Golden Orb/S5 mineralisation to the Redback Deposit, the scope of mineral resource estimate work has been expanded to include a new larger pit design.
“Potential for mineral resource growth”
Maximus managing director Tim Wither said: “These results from the recent RC drill program which successfully intersected gold mineralisation across the ~800-metre Golden Orb / S5 trend, confirm the continuity of mineralisation from Wattle Dam Stockwork through S5 Prospect and Golden Orb, demonstrating the potential for mineral resource growth across the Wattle Dam Gold Project.
“Gold mineralisation across the Golden Orb/S5 trend is similar to the stockwork mineralisation observed immediately adjacent to the Wattle Dam Gold Mine high-grade shoot and provides assurance that the completed drilling is narrowing the search for the potential discovery of another Wattle Dam.
“With several holes intersecting the broad zones of stockwork mineralisation, it is evident that any follow-up drilling requires several holes to be positioned further to the east of the initial target corridor to investigate potential high-grade shoots.
“With the receipt of the drill results, the company is focused on completing a mineral resource rstimate for the Wattle Dam Gold Project southern mineralisation, incorporating Redback, Golden Orb and S5.”
Forward plan
With the positive drill results, Maximus will incorporate the Golden Orb, S5 and Redback gold mineralisation for a combined Wattle Dam South resource estimate.
The company expects the estimate to be completed in December 2022.
Also, Maximus has kicked off metallurgical test-work on representative composite samples across Wattle Dam, focusing on replicating typical gold processing conditions found in the Western Australian Goldfields.
Results from the metallurgical test-work will define processing requirements for the ores as a precursor to negotiating toll-treating agreements with several gold processing plants within 70 kilometres of Wattle Dam.