Maximus Resources (ASX:MXR) unlocks near-term gold potential with high-grade hits at Hilditch, WA
September 25, 2024Maximus Resources (ASX:MXR) is gaining traction as it pushes forward with its promising Hilditch gold project, located just 25 km from Kambalda in Western Australia.
Recent assay results have injected new momentum into the project, highlighting shallow, high-grade gold intersections that strengthen the case for near-term production.
The company’s latest drilling campaign returned standout results, including 19 metres at 3.21 grams per tonne (g/t) gold from 16 metres, with an impressive 6 metres at 5.64 g/t gold from 18 metres (HGRC065)
This adds to a growing body of evidence that Hilditch could be a game-changer for Maximus Resources, as Managing Director Tim Wither commented, “These new drilling results successfully expand the high-grade mineralised zones and significantly improve the economic outlook for Hilditch, with efforts concentrated on advancing open pit development to generate cash flow for the Company”
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Maximus has reason to be optimistic as the latest drilling results enhance previously identified mineralisation and support plans for an updated Mineral Resource Estimate (MRE) in October.
Meanwhile, metallurgical test work on representative ore samples has indicated exceptional gold recoveries of up to 95.8%, reinforcing the potential for efficient gold extraction using standard Carbon in Leach (CIL) processing
These results come at a pivotal moment as Maximus continues discussions with potential toll-milling partners.
The strategic location of Hilditch, adjacent to existing gold processing facilities within a 60km radius, offers the company multiple pathways to production, reducing the logistical hurdles often faced by junior miners.
The company’s focus on shallow, high-grade gold deposits positions it well to benefit from a rising gold price environment, with Wither noting, “Hilditch offers a promising near-term gold production prospect for Maximus, situated on an approved mining tenement near the Coolgardie-Norseman highway”
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The next steps will involve the finalisation of open-pit designs, supported by ongoing geotechnical, environmental, and hydrogeological assessments.
With a Mining Proposal submission on track for early 2025, Maximus is steadily laying the groundwork for what could become a significant revenue stream in the short term
As Maximus advances toward production, investors will be watching closely.
With high-grade gold intersected close to the surface and a favourable metallurgical profile, Hilditch stands out in a crowded junior mining landscape.
If Maximus can secure the necessary partnerships and approvals, the project has the potential to deliver both near-term production and long-term upside.
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