For thousands of other reports visit RSC's Mineral Intellingence Map
Maximus Resources Ltd.
Summary
| Project: | Spargoville | |
|---|---|---|
| Deposit: | Larkinville | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 11/7/2016 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 7-11-2016: Maximus Resources Ltd. announces a Resource Estimation report for its Larkinville deposit at the Spargoville project. Declaration of the projects second resource. Maximus Resources Limited (ASX:MXR) is pleased to update shareholders following c | |
| Resources: | (Resource, Inf): 0.142300Mt @ 2.33g/t Au for 10660oz Au contained | |
| CP/QP: | [Resources]: Graeme McDonald (Not Stated) | |
| ABSTRACT: | Maximus Resources Limited (ASX:MXR) is pleased to update shareholders following calculation of the company’s second JORC 2012 compliant Mineral Resource estimate totalling 10,660 ounces on the Larkinville deposit (See Table 1), forming part of its high grade Spargoville gold project south of Kalgoorlie in Western Australia. The resource is based on 36 Reverse Circulation drillholes completed by Tychean Resources Limited and Ramelius Resources Limited for a total of 3,825metres (See Appendix 1). The ore body strikes north-west and dips at 65-70 degrees to the south-west, extending over 300m in strike length to a current depth of 80m below surface (See Figure 1). The ore body remains open along strike and at depth to the north (See Figures 1 and 3). The current defined Mineral Resource estimate is situated entirely on granted Mining Lease M15/1449. A drilling program is scheduled to commence this month aiming to add further resource tonnes, in addition to converting inferred tonnes to the Indicated category resulting in a revised Mineral Resource estimate to be calculated for the Larkinville deposit in Q1, 2017. This drill program will focus on the thicker and higher grade zones of the deposit, especially adjacent to holes LWRC 0003 which returned 20 metres at 3.1g/t from 30 m downhole, including 4 metres at 8.2 g/t from 32m downhole, LWRC0012 which returned 6 m at 3.4g/t from 34m downhole including 1 m at 8.1 from 35m downhole and LWRC0020 which returned 6m at 4g/t from 36 m downhole and 1 metre at 5.4g/t from 50m Downhole (See Appendix 1). The Larkinville deposit is located on the Kunanalling Shear, approximately 5km south-west of the previously mined, high grade Wattle Dam gold mine also owned 100% by MXR. The deposit is located 57km from MXR’S 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. | |
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