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Highlights
- Maximus Resources confirms 92% gold recovery from Eagles Nest deposit.
- Gold resource estimated at 42,500 ounces with exploration upside along untested strike.
- Development studies and drilling planned to refine resource classification and reduce risks.
Maximus Resources (ASX:MXR) has announced positive metallurgical test results for its Eagles Nest Gold Deposit, located in the Eastern Goldfields region of Western Australia. ASX mining stock Maximus Resources highlighted the potential of Eagles Nest, located around 7 kilometers south of the Wattle Dam Gold Project, with strong recovery rates reinforcing its viability as a free-milling gold deposit.
Metallurgical Test Results
Recent tests at the Eagles Nest deposit confirm gold recovery rates ranging from 89.5% to 92.4%. These figures highlight the deposit's suitability for conventional gold processing methods. Detailed results show recovery rates of 90.5% in the oxide zone, 90.9% in transitional mineralisation, and 91.8% in primary mineralisation. This consistency across different mineralisation types underpins the project's metallurgical strengths.
Resource Estimation
The Eagles Nest deposit has a current resource estimate of 42,500 ounces of gold at an average grade of 2.0 g/t. Its near-surface mineralisation enhances the economic potential, making it more accessible for mining operations. Additionally, the deposit's open nature along a 3-kilometre untested strike presents opportunities for further exploration and resource expansion.
Planned Drilling and Exploration
Maximus Resources has outlined plans for a follow-up drilling program in December. This initiative aims to delineate shallow mineralisation and refine resource classification. The findings are expected to contribute to an updated mineral resource estimate (MRE), which will offer a clearer understanding of the deposit's scale and economic feasibility.
Development Studies
The company is also conducting development studies to mitigate project risks and optimise recovery processes. Additional metallurgical testing is underway to further enhance processing efficiency. These efforts align with Maximus Resources' strategy to advance the project towards production readiness.
Mining Proposal Timeline
Maximus Resources has set its sights on submitting a mining proposal next year. This milestone will mark a significant step toward transitioning Eagles Nest from exploration to a fully operational mining project.
