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Maximus Resources Ltd.
Summary
| Project: | Spargoville | |
|---|---|---|
| Deposit: | Wattle Dam | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 7/26/2017 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 26-7-2017: Maximus Resources Ltd. announces an Exploration/Drilling Update report for its Wattle Dam deposit at the Spargoville project. Drilling results incl. 10m @ 0.76g/t Au from 20m. Maximus Resources Limited (ASX:MXR) is pleased to update shareholder | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Stephen Hogan (Not stated) | |
| ABSTRACT: | Maximus Resources Limited (ASX:MXR) is pleased to update shareholders on the recently completed drilling program at the Wattle Dam project, 55km south east of Coolgardie (Figure 1). All assays have now been received, verified and the data has been assessed. The drill program targeted repeat mineralised structures immediately east of the previously mined Wattle Dam open pit, identical to those that hosted the high grade gold deposit. Previous exploration drill coverage in the area was considered to be inadequate. All holes were drilled to the east at an angle of -60°. RC holes were drilled to a predetermined depth into fresh rock and AC holes were drilled through oxide and transitional material to refusal. Only those drill holes with assays above 0.5 g/t Au are listed in Table 1. The recent drilling results are considered highly encouraging in view of their proximity to the Wattle Dam high grade gold deposit. These result support the company’s interpretation of a mineralised granite ultramafic contact extending from the Redback deposit through to the footwall of the Wattle Dam system to the north (See figure 3). The company considers this ultramafic contact to be an important target on which to concentrate further drilling activities, and holds the potential to extend the Redback deposit to the north towards Wattle Dam, significantly increasing the prospectivity of this mineralised system. | |
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