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Maximus Resources Ltd (ASX:MXR) has confirmed promising signs of further gold mineralization at the 8500N deposit and the Paleochannel license near Kambalda, Western Australia. This confirmation follows the initial round of drilling, which revealed significant intersections of gold.
The drilling program consisted of five reverse circulation (RC) holes placed in an area with a history of high-grade gold results. Notably, previous drilling yielded impressive figures, including intersections of up to 2 meters at 46.7 grams per tonne (g/t) of gold from a depth of just 13 meters, with one meter recorded at an exceptional 92.6 g/t from 14 meters. The results from the latest drilling showed up to 13 meters at 1.59 g/t gold from a depth of 11 meters, which included a noteworthy interval of 4 meters at 3.49 g/t gold.
These initial results are seen as critical geological insights that will inform subsequent drilling programs at the 8500N site. The findings indicate significant potential for rapid expansion of mineralization in the area.
Tim Wither, managing director of Maximus, expressed enthusiasm about the drilling activities at 8500N. He stated that the preliminary results validate the shallow high-grade characteristics of the Paleochannel and reveal new mineralization beneath existing legacy drilling. This indicates an opportunity for swift expansion of the mineralization. The preliminary findings are attributed to previous air-core drilling that may have overlooked a mineralized saprolite zone located below the paleochannel gravels.
The primary objective of the current drilling program was to gather essential geological data to support future drilling initiatives, which has been successfully achieved. The high-grade, shallow gold mineralization present in the 8500N Paleochannel is envisioned as a low-risk, low capital expenditure starter operation, paving the way for larger open-pit operations as the company’s gold resources expand.
Additionally, Maximus has gained the necessary permissions to proceed with exploration at the 8500N tenement, as a special prospecting license covering the area has been surrendered. The tenement is situated on granted mining leases, and infrastructure is already established. Furthermore, environmental flora and fauna baseline studies have been completed, offering a shortened timeline to potential gold production.
The results of the five-hole drilling program included several noteworthy findings:
- At the 8500N paleochannel, mineralization was recorded at 13 meters at 1.59 g/t gold from 11 meters, with a significant interval of 4 meters at 3.49 g/t gold from the same depth. Other notable intersections included 1 meter at 1.09 g/t from 14 meters and 1 meter at 1.5 g/t from 18 meters.
- For the 8500N primary mineralization, results included 3 meters at 2.91 g/t gold from 114 meters, with an impressive 1 meter at 5.27 g/t from 115 meters, alongside 4 meters at 1.89 g/t from 167 meters.
Maximus believes that the 8500N target represents a low-cost and low-risk opportunity for early production due to its shallow depth—less than 20 meters below the surface—and the favorable free-digging characteristics of both the gold ore and surrounding rock. A shallow drilling program will now be initiated across the 8500N paleochannel in several stages, with the first phase commencing in early October. This program will primarily focus on infill drilling and resource extension of the shallow paleochannel mineralization, as well as testing the potential of the mineralized saprolite zone beneath the known paleochannel.
