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Maximus Resources Ltd.
Summary
| Project: | Spargoville | |
|---|---|---|
| Deposit: | Larkinville | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 12/21/2016 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 21-12-2016: Maximus Resources Ltd. announces an Exploration/Drilling Update report for its Larkinville deposit at the Spargoville project. Drilling results incl. 13m @ 5.2g/t Au from 34m. Maximus Resources Limited (ASX:MXR) is pleased to update shareholde | |
| Resources: | (Resource, Inf.): 142300t @ 2.33g/t Au for 10660oz Au at Larkinville deposit | |
| CP/QP: | [Overall Report]: Stephen Hogan (Not stated) | |
| ABSTRACT: | Maximus Resources Limited (ASX:MXR) is pleased to update shareholders following completion of the 13 hole infill and extensional Reverse Circulation (RC) drilling program on the company’s Larkinville Deposit, part of its high grade Spargoville gold project south of Kalgoorlie in Western Australia. A maiden JORC 2012 compliant Mineral Resource estimate totalling 10,660 ounces on the Larkinville deposit was announced to the ASX on the 8th of November 2016. The recently completed 13 hole, 1,027 metre drill program was undertaken to confirm and update the geological interpretation, supply a sufficient ore sample for metallurgical test work and provide additional data to upgrade the Inferred Mineral Resource estimate to Indicated. The results confirm the earlier resource model and support the interpretation of a thicker, high grade central portion of the orebody. This zone contains individual assay results up to 23.9g/t gold and is indicative of the coarse high grade gold identified across the Spargoville field. The company will now reassay selected high grade intervals with a 1kg screen fire assay technique. This method is commonly utilised when the presence of coarse high grade gold is suspected, and results are considered more reliable to those reported from initial 50g fire assay sample size results reported here. | |
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