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Highlights
- Shallow high-grade gold of up to 56.5 g/t identified at 8500N Paleochannel
- 450-metre strike length confirmed with extensions uncovered
- Geological modelling underway for maiden mineral resource estimate
Maximus Resources (ASX:MXR) has successfully completed its first-phase reverse circulation (RC) drill program at the 8500N Paleochannel near Kambalda in Western Australia. The results confirm the continuation of shallow high-grade gold mineralisation, with gold grades reaching up to 56.5 g/t.
The recently concluded drill program involved 102 RC holes covering a total of 3,186 metres. Results from the final 56 holes have now been received, further supporting the geological confidence in the mineralised zone. The paleochannel mineralisation spans a strike length of 450 metres and lies just 5 to 20 metres below the surface.
The objective of the drill program was to infill and extend known mineralisation along the strike, verify legacy drilling results, and identify potential extensions. Notably, the drill results revealed paleochannel gravel zones up to 7 metres thick, enhancing the economic potential of the project compared to previous findings.
According to Maximus Resources, the 8500N Paleochannel’s shallow gold deposits present a low-cost production opportunity due to the ease of extraction and the free-digging characteristics of the mineralised material.
Geological modelling is now underway to guide the next stage of exploration and determine the potential resource estimate. This modelling will focus on quantifying the thickness of the paleochannel while addressing variability in the coarse gold assay results.
The company has also initiated metallurgical test work using representative samples to assess factors such as gravity recoveries and reagent consumption. Results are anticipated in the first quarter of 2025.
In parallel, environmental studies, including surface hydrological assessments, are progressing to support the preparation of mining proposals. Maximus Resources expects to submit the mining proposals in early 2025.
With geological confidence improving, the next phase of exploration will aim to identify further extensions of the paleochannel and assess the underlying primary mineralisation. The company remains optimistic about the economic potential of the shallow high-grade gold zones, which present an efficient and cost-effective opportunity for production.
Maximus Resources continues discussions with potential mining and toll-milling partners to align future operational requirements and advance the 8500N Paleochannel project.
