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- Maximus Resources (MXR) has found a high-grade gold intersection at its S5 prospect, located in its Spargoville tenements, near Kambalda WA
- The 32 metres at 3.2g/t of gold intersection was discovered by the recent reverse circulation (RC) drilling campaign
- Maximus believes there is strong potential to find a short strike length similar to the nearby historical high-grade mine, Wattle Dam
- Follow up diamond drill holes are planned to further explore the S5 prospect
- Despite this positive news, Maximus is down 16.2 per cent on the market this morning, trading at 15.5 cents per share
Maximus Resources (MXR) has found a high-grade gold intersection at its S5 prospect.
S5 is located at the company’s Spargoville tenements, 300 metres south of the historical high-grade Wattle Dam Gold Mine, near Kambalda, Western Australia.
The 32 metres at 3.2g/t of gold intersection was discovered by the recent reverse circulation (RC) drilling campaign.
Within this result, significant gold intersections include six metres at 3.1g/t of gold from 105 metres, including two metres at 6.8g/t of gold, and 13 metres at 5.9g/t pf gold from 118 metres.
Maximus believes there is excellent potential to find a short strike length that is similar to Wattle Dam.
“These results have been an amazing start for the new geology team at Maximus,” Managing Director Tim Wither said.
“The geological setting of hole S05RC007 increases confidence in the Company’s belief that Wattle Dam Gold Mine, Redback, Golden Orb and now S5 are part of a much larger inter-linking mineral system. We are currently testing this concept with the project scale diamond drill programme currently underway at the Redback Deposit,” he added.
Follow up diamond drill holes will be undertaken to further explore the S5 prospect.
Despite this positive news, Maximus is down 16.2 per cent on the market this morning, trading at 15.5 cents per share at 10:09 am AEDT.
