Maximus Resources hits up to 48.4 g/t gold and extends Redback mineralisation

Maximus Resources Limited’s (ASX:MXR) (FRA:M5F) ongoing diamond drilling has returned up to 48.4 g/t gold and extended mineralisation at Redback Gold Deposit within its Spargoville tenements, around 24 kilometres from Kambalda in Western Australia’s premier gold and nickel mining district. The company has received assays from the first three diamond drill holes in an ongoing 2,500-metre infill and resource extension diamond drill campaign at Redback along with the first of the diamond drill tails testing Redback Shear zone. All drill holes intersected gold mineralisation and the best results include: 16.3 metres at 9.3 g/t from 229 metres including 5.5 metres at 6.7 g/t from 229.5 metres and 5.8 metres at 17.9 g/t from 240 metres including 1-metre at 48.4 g/t; 2 metres at 10.1 g/t from 258 metres including 1-metre at 15.1 g/t; and 13 metres at 1.9 g/t from 232 metres including 2 metres at 6.9 g/t. Redback Shear Zone diamond drill tail confirms around a 20% increase in known alteration and mineralisation strike length at the Redback deposit. “Increases confidence in gold potential” Maximus’ managing director Tim Wither said: “These initial diamond drill results from the infill and resource extension drill program greatly increase our confidence in the gold potential at Redback. “Together with the initial diamond-tail results, showing broad mineralisation and intense alteration along the interpreted shear zone corridor towards Wattle Dam, these validate our thoughts that there is a much larger mineral system in the Wattle Dam area.” Redback diamond drilling Drill results from Redback form part of a short-term strategy aimed at building value by increasing the gold resource at Redback and expanding the company’s future development options. The initial three holes completed are part of a diamond drill program of around 2,500 metres designed to confirm and extend interpreted high-grade domains of Redback Deposit while completing resource infill drilling to provide validation of a new geological interpretation of the deposit. So far, the company has drilled six diamond drill holes for 901 metres with assay results to be provided as received. Besides this, the remaining diamond tails are planned to test the continuation of structure between Redback and the Wattle Dam Gold Mine, 600 metres northwest of the Redback Deposit. Initial results Initial results highlight opportunities to model discrete high-grade domains at the Redback Deposit in a future mineral resource estimate update. Visible gold was observed within the RBDD003 high-grade zone of 5.8 metres at 17.9 g/t gold. Maiden diamond drilling has been completed at the company’s recent S5 discovery with assays expected to be received during February/March. Forward plan at Redback The remaining holes will be completed by mid-March 2021 and assay results provided as received. A second phase diamond drill program is proposed following an assessment of the initial phase of the Redback infill/extension program. A revised mineral resource estimate is planned to be undertaken on completion of the second phase diamond drill program. DMIRS requires that spring and autumn flora and fauna surveys accompany mining proposals. Spring field surveys have been completed with autumn field surveys scheduled in the greater Redback area, including the oxide gold resources at Eagles Nest and Hilditch, in preparation for the submission of a mining proposal.