For thousands of other reports visit RSC's Mineral Intellingence Map
Maximus Resources Ltd.
Summary
| Project: | Spargoville | |
|---|---|---|
| Deposit: | Eagles Nest | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 11/1/2016 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 1-11-2016: Maximus Resources Ltd. announces a Resource Estimation report for its Eagles Nest deposit at the Spargoville project. Declaration of Initial gold resource. Maximus Resources Limited (ASX: MXR) is pleased to update shareholders following complet | |
| Resources: | (Resource, I+I): .407550Mt @ 2.04g/t Au for 26800oz Au contained | |
| CP/QP: | [Resources]: Graeme McDonald (Not Stated) | |
| ABSTRACT: | Maximus Resources Limited (ASX: MXR) is pleased to update shareholders following completion of the company’s maiden JORC 2012 compliant Mineral Resource estimate totalling 26,800 ounces on the Eagles Nest deposit, part of its high grade Spargoville gold project south of Kalgoorlie in Western Australia. The resource is based on 51 Reverse Circulation drillholes completed by Maximus Resources and Ramelius Resources for a total of 5542 metres. Drilling density, continuity and confidence in the upper portions of the Eagle Nest deposit are sufficient to allow this section to be classified as an Indicated Mineral Resource totalling 138,200 tonnes at 1.89g/t gold. The ore body strikes north and dips at 75-80 degrees to the east, and plunges 45 degrees to the north. The ore body currently extends to 240m below surface (See Figure 1). The ore body remains open to the south and down plunge to the north (See Figure 1). The current defined Mineral Resource estimate is situated entirely on granted Mining Lease M15/1475, held 100% by MXR. The Company has recently acquired tenement P15/5545 abutting the south boundary of the Eagles Nest Mineral Resource (See Figure 3). A drilling program is planned to commence this month aiming to add further resources and allow an updated Mineral Resource estimate to be calculated for the Eagles Nest deposit. The Eagles Nest deposit is located on the Spargoville shear, approximately 7km south of the previously mined high grade Wattle Dam gold mine also owned 100% by MXR. The Eagles Nest deposit is located 60km from the Maximus’ recently acquired Burbanks gold treatment plant (See figure 2). Burbanks has a capacity of 180,000 tonnes per annum and is currently being refurbished with an anticipated completion time of Q1 2017. It is the Maximus’ intention to utilise the Burbanks mill to initially toll treat 3rd party ore feed to generate maiden revenues whilst it defines and progresses its own gold resources through the feasibility, approval and production processes, of which Eagles Nest is slated as the first gold deposit for mining. | |
Full Report
opaxe is a smart software platform that reconfigures and redistributes information and produces business insights to help mining professionals and investors make better decisions. We utilise technology and machine learning for data collection and human intelligence for the value-added services.
Full Report