A reverse circulation (RC) drilling program by Maximus Resources Ltd (ASX:MXR, OTC:MXRRF) at its Hilditch gold deposit near Kambalda in Western Australia has returned multiple shallow high-grade intersections including 19 metres at 3.21 g/t of gold.
The assay results follow the completion of the 11-hole, 722 metre RC drill program at Hilditch to investigate recent intersected high-grade zones.
The company has now commenced updating the Hilditch mineral resource estimate (MRE) to finalise optimised open-pit designs, aiming to secure mine approvals and advance discussions with potential mining and toll milling partners. The updated MRE is targeted for next month, October 2024.
“A promising near-term gold production prospect”
Maximus managing director Tim Wither said: “The recent drilling results — including 19 metres at 3.21g/t of gold from 16 metres — fall within optimised open pit shells and support the MRE update prior to completing open pit designs.
“Hilditch offers a promising near-term gold production prospect for Maximus, situated on an approved mining tenement near the Coolgardie-Norseman highway, and within close proximity to multiple regional gold processing facilities.
“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, capitalising on the rising gold price environment.”
The company advises that it is now in active discussions with potential mining and toll-milling partners.
The shallow high-grade intersections include:
- 19 metres at 3.21g/t gold from 16 metres including 6 metres at 5.64g/t gold from 18 metres and 5 metres at 3.28g/t gold from 30 metres;
- 9 metres at 3.11g/t gold from 63m including 4 metres at 4.84g/t gold from 63 metres;
- 15 metres at 1.12g/t gold from 24m including 1 metre at 2.85g/t gold from 25 metres and 4 metres at 2.12g/t gold from 35 metres; and
- 5 metres at 1.61g/t gold from 48m including 1 metre at 2.02g/t Au from 48m and 1 metre at 2.0g/t gold from 51 metres.
Maximus has submitted representative mineable ore-grade intervals for metallurgical test work under real-world toll milling protocols with results expected next month. Initial results include up to 95.8% recovery of gold.
Preliminary metallurgical test work of the Hilditch open-pit gold resource points to exceptional gold recoveries between 91.4% and 95.8%, indicating that the mineable ore is very amenable to the conventional carbon in leach (CIL) gold processing used throughout Western Australia’s Eastern Goldfields.
Hilditch gold deposit significant drill results from recent drilling (gram x metres).
The Hilditch deposit is just one of Maximus’ projects within its diversified portfolio of exploration projects in the world-class Kambalda region of Western Australia, which contains 335,000 ounces of gold resources across its granted mining tenements.
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