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Maximus Resources Ltd.
Summary
| Project: | Spargoville | |
|---|---|---|
| Deposit: | Eagles Nest | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 2/17/2017 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 17-2-2017: Maximus Resources Ltd. announces an Exploration/Drilling Update report for its Eagles Nest deposit at the Spargoville project. Drilling results incl. 19m @ 2.46g/t Au from 1m. Maximus Resources Limited (ASX: MXR) is pleased to update shareholde | |
| Resources: | (Resource, I+I): 407.55Kt @ 2.04g/t Au for 26800oz Au contained | |
| CP/QP: | [Overall Report]: Stephen Hogan (Not stated) | |
| ABSTRACT: | Maximus Resources Limited (ASX: MXR) is pleased to update shareholders following completion of an infill and extensional Reverse Circulation (RC) drilling program at the company’s Eagles Nest Project, part of its high grade Spargoville gold project south of Kalgoorlie in Western Australia (Figure 1). A maiden JORC 2012 compliant Mineral Resource estimate of 26,800 ounces at the Eagles Nest deposit was announced on the 1st November 2016 (See table 1). A revised Mineral Resource estimate is currently being finalised and planned for release in February. The 5 hole, 271 metre drill program was undertaken to validate and update the geological interpretation of the Eagles Nest deposit in addition to providing additional data on the southern extension of the existing Resource. In addition to the recent drill results, further examination of data from previous drilling programs has identified an additional zone of mineralisation present on adjacent sections within the footwall. A maiden JORC 2012 compliant Mineral Resource estimate of 26,800 ounces at the Eagles Nest deposit was announced on the 1st November 2016 (See table 1). A revised Mineral Resource estimate is currently being finalised and planned for release in February. The current defined Mineral Resource is situated entirely on granted Mining Lease M15/1475, held 100% by MXR (See figure 2). However, the recent acquisition of tenement P15/5545 to the immediate south of the Eagles Nest Mineral Resource will allow the inclusion of historical drilling undertaken by previous explorers to the south on M15/100 (See table 3) to be considered in any future Ore Resource upgrade. | |
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