Maximus Resources delivers rock chip samples of up to 9.8 g/t gold from Golden Eagle
Tue May 14 2024
Maximus Resources Ltd (ASX:MXR, OTC:MXRRF) welcomes “highly encouraging” high-grade gold assays of up to 9.8 g/t from reconnaissance rock chip sampling at Golden Eagle Prospect in the Kambalda/Widgiemooltha region of Western Australia's Eastern Goldfields.
Golden Eagle is around 7 kilometres south of the company’s Wattle Dam Gold Project and around 1 kilometre south of its 42,550-ounce Eagles Nest gold resource, which is the discovery site of WA’s largest gold nugget ‘The Golden Eagle’ weighing 1,135 ounces.
Initial rock chip results are from a first-pass reconnaissance field mapping program along a major regional gold trend between the Eagles Nest resource and the high-grade Groundlark gold prospect.
The Eagles Nest-Groundlark corridor is within Maximus’ 100% gold rights on granted mining tenements held by Widgie Nickel Ltd. The rights held by Maximus were retained by Western Mining Corp after the sale of Mt Edwards Nickel Project in 2001 and have since seen very little gold exploration.
Focus on growing gold resources
Maximus managing director Tim Wither said, “Whilst we wait for FIRB approval for the next steps of the Lefroy lithium drill program, our Kalgoorlie-based geology team continues its focus on growing the company’s 335,000 ounces of gold resources and improving our geological understanding of our Eagles Nest-Groundlark corridor.
“The encouraging gold assays from surface grab samples have been taken in a new, significantly under-explored area, with limited wide-spaced shallow RAB drill traverses completed in 1996 by Western Mining Corporation.
“The Eagles Nest-Groundlark corridor is bookended by two known gold deposits and is characterised by an extensive ~3-kilometre gold-in-soil anomaly, with distinct magnetic features.
"The high-grade rock samples were taken from sporadic outcropping mafic rocks, with mineralisation similar to that observed at our Redback deposit, in an area with no known modern gold assays, despite the area's known high-grade gold occurrences.
“These assay results and field observations significantly upgrade the prospectivity of the Eagles Nest-Groundlark corridor and warrant an initial scout drill program.
"Further mapping and sampling are continuing to trace the near-surface extent and orientation of the mineralisation before RC drilling.”
Looking ahead
These gold results significantly upgraded the prospectivity of the corridor and warrant a focused exploration program.
Further work will focus on several priority areas, including expanded field mapping, rock chip sampling and structural modelling to interpret gold-mineralised structures.
The company will also pursue necessary permits to advance the project to a drill-ready status.
Source: https://www.proactiveinvestors.com