Maximus Resources Ltd (ASX:MXR, OTC:MXRRF) managing director Tim Wither talked with Proactive about the latest developments from the company’s gold projects, sharing insights into significant drilling results at the Hilditch Gold Deposit, including intersections of 18 metres at 3.2 g/t gold from just 13 metres.
These results underscore the shallow, high-grade potential of the deposit and strengthen its economic viability.
Wither also discussed the progress on development studies at Hilditch, noting that environmental studies are complete, and the focus now shifts to submitting mining proposals and working with toll milling partners.
Turning to the Eagle’s Nest gold deposit, Wither highlighted the robust preliminary metallurgical test results and outlined plans for further drilling to expand the resource and refine the metallurgical processes.
Drilling at Eagle’s Nest is set to begin before the year’s end, alongside ongoing assay analysis from the extensive 8500 North Paleo channel drill program.
“There’s a lot of data coming through, and we’re gearing up for a strong news flow in early 2025,” Wither stated.
Hilditch drilling
Tylah Tully (TT): Tim, you've been very busy. Thanks for joining us today.
Tim Wither (TW): Thank you very much for having us. Hello to any Maximus shareholders that are online.
TT: Let's get started. Talk us through your announcement today. You've done some drilling at Hilditch. What have you found?
TW: This is the last set of drilling we've done at Hilditch. It's focused on infill and extending a higher-grade zone we identified in the previous drill campaign.
We've uncovered high-grade gold in sections, including 18 metres at 3.2 grams per tonne from a depth of just 13 metres. This demonstrates the shallow nature of the deposit and its high-grade potential.
TT: All development studies have now been completed at Hilditch. So, where do you go from here? What's your outlook for the project?
TW: The latest results bolster the economic case for Hilditch. The mineralisation starts at surface, making it shallow and with a low strip ratio, which is favourable for production.
We've completed environmental studies, which do not require any further follow-up. Now, we’re focusing on submitting the mining proposal, mine closure plan and clearing permits. At the same time, we're continuing discussions with potential toll-milling partners.
Preliminary testing at Eagle’s Nest
TT: Turning to the Eagle's Nest gold deposit, you've completed preliminary metallurgical testing. What can you tell us about the results?
TW: Understanding a deposit starts with understanding how the gold can be extracted. The preliminary results for Eagle's Nest are robust, even though it's still at an interim stage.
The next steps are to conduct additional drilling to extend the resource and collect more material for advanced metallurgical work. This involves optimising grinding size and process efficiency using real-world testing protocols.
We're aiming to start drilling at Eagle's Nest before Christmas.
TT: Is there any other news flow that investors should keep an eye on going into the new year?
TW: Yes. We're still awaiting results from the 3,000-metre drill program at the 8500 North Paleo channel. We’ve received only 20% of the assays so far.
We're also finishing the final metallurgical test work at Hilditch under real-world protocols.
And, as mentioned, we’ll start Eagle's Nest drilling before Christmas. We expect strong news flow in early 2025.
TT: It sounds like you’re going to be busy all through Christmas. Thanks for joining us today, Tim.
TW: Thank you very much for your time.
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