Maximus (ASX:MXR) keep adding ounces at Spargoville

Maximus (ASX:MXR) keep adding ounces at Spargoville

December 19, 2023 Off By Tom Duggan

Maximus Resources is now the bearer of 335 thousand golden ounces after an upgrade on two deposits within its Spargoville Project landholdings 25 kilometres from Kambalda in Western Australia.

A 160% rise at Hilditch and a 21% boost at Larkinville brought in the new figure, both standing full open-pit resources within $2,800 optimised open-pit shells at a cut-off grade of 0.5 g/t Au, and with 91% at Larkinville now in the Indicated category, it provides a robust foundation for toll-treating development studies.

“With the completion of the Hilditch and Larkinville MRE updates, Maximus now has combined group gold resources of 335,000 oz. The process of completing the MRE updates has demonstrated the fantastic potential to continue to increase gold resources through targeted drilling at both Larkinville and Hilditch,” Maximus Managing Director Tim Wither said.

“Both deposits are ideal for near-term production, located on granted mining tenements, with potential for strong economics given the shallow mineralisation starting at surface and favourable ore body geometry.

The Company continues to make consistent improvements in Mineral Resource classifications, through efficient drilling, and as our geological understanding of the deposits continues to grow, so does the potential across Maximus tenements.”

The resources at both deposits are shallow, with mineralisation beginning at surface and remaining open at depth, and a significant strike extension remaining untapped at Hilditch offers plenty more room for growth, as does a greater resource holding open mineralisation constrained only by drilling.

Maximus is now awaiting results from a recently completed soil sampling program directed at spotting up more drill targets and shallow, high-grade discoveries in next year’s drilling.

MXR Spargoville

Spargoville gold resources

up arrow$0.03

Please note the following valuable information before using this website. 

Independent Research 

Market Open Australia is intended to be used only for educational and informative purposes, and any information on this website should not be taken as investment advice or guidance. It is important to conduct your own research before making any investment decisions, which should be based on your own investment needs and personal circumstances. Any investment decisions based on information contained on this website should be taken in line with independent financial advice from a qualified professional or should be independently researched and verified. 

MO and CI logo redraw Socials Profile reversed

MarketOpen is an online media business connecting companies and investors. Through its flagship media channel the Australian publisher’s experienced journalists cover breaking news and analysis on mining, oil and gas, technology and biotechnology companies listed on the Australian Securities Exchange and other markets. MarketOpen’s video and podcasting channels feature original interviews with Australia’s small-cap corporate leaders, while its Stock Soirée networking events, Watchlist webinars, and online events connect investors and brokers with CEOs and board members. The publisher also offers a suite of agency services to its corporate members, including media, video, podcasting and social media services, along with writing, editing, reviewing and content creation services.

Contact info

Suite 3, 47 Havelock Street
West Perth WA 6005

Stewart Walters
Managing Director
+61 414 644 166

Amanda Ellis
+61 438 003 868

Important links

Follow us