Maximus (ASX:MXR) keep adding ounces at SpargovilleDecember 19, 2023
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.
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