Maximus Resources Limited (ASX:MXR) has commenced a multi-target ~4,000m Reverse Circulation (RC) drilling programme targeting several near-mine and regional exploration gold targets across the Spargoville tenements, located 24km from Kambalda in Western Australia.
The drilling will initially focus on ~1,200m at both the Yilmia and Karramindie gold targets.
The Yilmia RC drill programme is testing for a potential northern repeat of Karora Resources’ Spargo’s Reward, along an interpreted Shear Zone, 16 km north of Wattle Dam.
The Karramindie programme is targeting a gold in soil anomaly adjacent to the regional Karramindie Shear Zone. The anomaly occurs proximal to interflow sediments similar to that seen at the Company’s Redback and Wattle Dam Gold Mine.
The ultramafics and interflow sediments are located adjacent to the regional Karramindie Shear Zone, associated with Anglo Australia’s Mandilla Gold Project, ~4 km to the south-southeast of the Karramindie target.
Drilling at Yilmia and Karramindie is expected to be completed in around two weeks, with assay results to be announced as received.
Once completed, the RC drill rig will move onto Mineral Resource infill and extension drilling at Larkinville, appropriate for JORC 2012 reporting and obtain adequate material for metallurgical test-work to support completion of development studies.
Maximus currently holds 48 sq km of tenements across the fertile Spargoville Shear Zone hosting the very high-grade Wattle Dam Gold Mine. Mined until 2012, Wattle Dam was one of Australia’s highest-grade gold mines producing ~286,000oz @ 10.1g/t gold. Maximus is developing several small high-grade operations across the tenement portfolio, whilst actively exploring for the next Wattle Dam.
MXR’s Spargoville tenements are highly prospective for Kambalda-style komatiite-hosted nickel sulphide mineralisation. A near contiguous belt of nickel deposits extends from Mincor Resources Limited’s Cassini nickel deposit to the south of the Neometals Widgiemooltha Dome/Mt Edwards projects, through Estrella Resources Andrews Shaft Nickel Deposit, to the northern extent of the Maximus tenement package, including Maximus’ Wattle Dam East and Hilditch Nickel Prospects.