Maximus Resources Limited (ASX:MXR) has identified new drill targets following the completion of multi-target Air Core drill programme across the Spargoville Project, located 25km from Kambalda, Western Australia.
“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,” 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.”
The shallow air-core programme has been successful in identifying highly prospective Ni, Au and PGE zones for follow-up deeper drilling. Highlights include:
Central – Nickel
o 20m @0.32% Ni, 139ppm Cu, 22ppb PGE from 0m, including 4m @0.44% Ni, 76ppm Cu, 23ppb PGE from 12m (CTAC060)
o 16m @0.29% Ni, 8ppm Cu, 18ppb PGE from 28m (CTAC088)
o 12m @0.31% Ni, 114ppm Cu, 31ppb PGE from 8m, including 4m @0.43% Ni, 107ppm Cu, 31ppb PGE from 8m (CTAC039)
Hilditch West – Nickel
o 16m @0.32% Ni, 178ppm Cu, 30ppb PGE from 20m, including 4m @0.41% Ni, 134ppm Cu, 30ppb PGE from 28m (HWAC001)
Kemble – Nickel
o 27m @0.29% Ni, 88ppm Cu, 21ppb PGE from 8m (KBAC028)
o 20m @ 0.32% Ni, 81ppm Cu, 17ppb PGE from 0m (KBAC022)
o 6m @0.5% Ni, 465ppm Cu, 56ppb PGE from 32m (KBAC020)
o 5m @0.49% Ni, 365ppm Cu, 51ppb PGE from 36m (KBAC026)
Shallow air-core defines a broad regolith gold anomaly over ~1km of strike at Kemble. Highlights include:
o 8m @0.3g/t Au from 4m, including 4m @0.46g/t Au from 4m (KBAC021)
o 4m @0.41g/t Au from 16m (KBAC021)
o 5m @0.4g/t Au from 36m to EOH (KBAC026)
o 2m @0.38g/t Au from 36m to EOH (KBAC020)
Forward Plan – Gold and Nickel Exploration
Maximus’ Spargoville tenement package features a ~16km extension of a fertile regional ultramafic belt and is highly prospective for Kambalda-style komatiite-hosted nickel sulphide mineralization. Additionally, tenement packages hold significant potential for the occurrence of further orogenic gold deposits.
As a result of historically low commodity prices, the previous owners of the tenements carried out limited nickel focused exploration activities, leaving a considerable portion of the tenement area unexplored. This presents an attractive opportunity for the Company to potentially discover nickel sulphides while concurrently conducting advanced gold exploration.
To aid in the interpretation of geological data and provide direction for future gold exploration and resource targeting, the Company has enlisted the services of a structural geological expert to perform structural analysis and geological review of the Wattle Dam and Redback area. This review has been underway for several weeks, which will potentially yield additional gold resource growth targets, to be included in future RC drill programmes.
Planning approvals for additional AC drill programmes are currently underway, to explore untested area across the Spargoville tenements for the identification of potential nickel exploration targets.
For further information please visit: http://maximusresources.com/
