Maximus (ASX:MXR) spot more Spargoville sulphide targets

Maximus Resources have identified highly prospective nickel, gold and platinum group zones earmarked for deeper drilling after the receipt of the remaining assays from its multi-target air core programme over a Spargoville project sitting just 25 kilometres away from Kambalda in Western Australia.

Kambalda is synonymous with nickel, and the elevated returns of metals within the regolith is strongly associated with the high-grade nickel sulphide deposits which have typified the region.

“In addition to the success in defining a fertile nickel sulphide komatiite channel at the Misho nickel prospect, the complete multi-target low-cost air-core drill programme has delineated additional gold and nickel targets at Central, Hilditch and Kemble,” Maximus Managing Director Tim Wither said.

“These early-stage air-core drill programmes provided vital geochemistry to vector-in on prospective targets for follow-up RC drilling.”

Intersections of anomalous PGEs at the Central Nickel target were notably found at a comparable stratigraphic level to the electromagnetic conductors along strike of the Andrew Shaft Nickel Mine and given the abundance of metals found in the area, indicated that untested legacy conductors could be related to nickel sulphides at depth.

Featuring a 16-kilometre extension of a fertile regional ultramafic belt, the Spargoville tenement package is not only considered highly prospective for Kambalda-style mineralisation, but has noted potential for orogenic gold deposits, and still lies underexplored after its previous owners held through times of historically low commodity prices.

Structural analysis and geological review of the Wattle Dam and Redback areas has been underway for several weeks, potentially yielding more targets to grow its gold resource as Maximus move ahead on more AC drill programmes to explore untested nickel areas across its tenements.

Drilling highlights:

Central – Nickel

• 20m @ 0.32% Ni, 139ppm Cu, 22ppb PGE from 0m, including 4m @ 0.44% Ni, 76ppm Cu, 23ppb PGE from 12m (CTAC060)
• 16m @ 0.29% Ni, 8ppm Cu, 18ppb PGE from 28m (CTAC088)
• 2m @ 0.31% Ni, 114ppm Cu, 31ppb PGE from 8m, including 4m @ 0.43% Ni, 107ppm Cu,
  31ppb PGE from 8m (CTAC039)

Hilditch West – Nickel

• 16m @ 0.32% Ni, 178ppm Cu, 30ppb PGE from 20m, including 4m @ 0.41% Ni, 134ppm Cu,
  30ppb PGE from 28m (HWAC001)

Kemble – Nickel

• 27m @ 0.29% Ni, 88ppm Cu, 21ppb PGE from 8m (KBAC028)
• 20m @ 0.32% Ni, 81ppm Cu, 17ppb PGE from 0m (KBAC022)
• 6m @ 0.5% Ni, 465ppm Cu, 56ppb PGE from 32m (KBAC020)
• 5m @ 0.49% Ni, 365ppm Cu, 51ppb PGE from 36m (KBAC026)

Kemble – Gold

• Broad regolith gold anomaly defined over ~1km of strike
• 8m @ 0.3g/t Au from 4m, including 4m @ 0.46g/t Au from 4m (KBAC021)
• 4m @ 0.41g/t Au from 16m (KBAC021)
• 5m @ 0.4g/t Au from 36m to EOH (KBAC026)
• 2m @ 0.38g/t Au from 36m to EOH (KBAC020)

MAXIMUS FPO [MXR]

Sector: Basic Materials

Industry: Other Precious Metals & Mining

Employees:

Maximus Resources Limited, together with its subsidiaries, engages in the exploration and development of mineral properties in Australia. It primarily explores for gold, copper, lithium, and nickel element deposits. The company holds an interest in the Spargoville project comprising approximately 117 square kilometres located near Kambalda, Western Australia. It also undertakes Wattle Dam gold project, which includes Wattle Dam stockwork, Wattle Dam South, and Redback deposits, as well as S5 prospect, and Hilditch Gold project. In addition, the company holds interest in two Nickel –Copper- Cobalt- Platinum Group Elements projects, which comprises the Jilbadji and Karalee projects covering a combined area of 678 square kilometres located in Southern Cross, Western Australia. Further, it holds 75% interest in Larkinville Lithium project; 70% interest in the Lefroy Lithium project; and 100% interest in Eagles Nest Gold project. The company was incorporated in 2004 and is based in Eastwood, Australia.

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