Maximus Resources begins gold resource estimate for remnant ore at Wattle Dam

Maximus Resources Ltd (ASX:MXR) has started preparing a gold resource estimate for remnant ore at the historic Wattle Dam Gold Mine within the Wattle Dam Project near Kambalda in Western Australia. The high-grade Wattle Dam was mined by Ramelius Resources (ASX:RMS) from 2006 to 2012, producing 262,000 ounces from ore grading 10.9 g/t gold through a shallow open pit and underground mining operation. There are currently no reported mineral resources for any remnant unmined mineralisation at the Wattle Dam mine. Known gold mineralisation Recent work by Maximus has included a consolidation of a large amount of data from legacy drilling to enhance the geological knowledge of Wattle Dam area. This has culminated in the identification of resource growth opportunities across the under-explored Spargoville tenements. An ongoing review has highlighted a broad zone of remnant unmined carbonate-quartz stockwork (Wattle Dam stockwork) with known gold mineralisation intersections, adjacent to the previously mined high-grade shoot at Wattle Dam. “Opportunities get better every day” Managing director Tim Wither said: “The opportunities across the greater Wattle Dam area get better every day, as we continue to develop our geological understanding. “The potential to significantly increase the company’s existing gold resources, together with the recent high-grade gold intercepts at Redback and observed stockwork at the S5 Prospect, all validates our belief that there is a much larger mineral system in the Wattle Dam area.” Shares have been up by more than 9% intra-day to 10 cents. Wattle Dam stockwork The Wattle Dam stockwork is characterised by carbonate-quartz-gold veins within a competent rock mass on the western shear zone of Wattle Dam. Stockwork gold mineralisation extends from surface and closely follows the plunge of the previously mined high-grade shoot at Wattle Dam. During mining operations, the Wattle Dam high-grade shoot and stockwork were mined out within the shallow open pit. Wattle Dam stockwork mineralisation is up to 40 metres wide, has a varied strike length between 40 metres and 100 metres, occurring west of the mined high-grade shoot. Gold intersections through the wider domain are characteristically variable and consistent with the nature of stockwork mineralisation. Sample for future studies Confirmatory and QAQC drilling incorporated into the upcoming RC program will provide sample material for metallurgical test-work to support future studies. Near-mine opportunities at Wattle Dam have also been identified, which will be included in the resource estimate evaluation, including: High-grade shoot - remnant mineralisation along strike and between open-pit and top level of underground workings; Wattle Dam South - significant intercepts south of the underground workings, tested in the recently completed diamond drill program with assays pending; and Wattle Dam North - potential area immediately north of the mine where the prospective trend has not been adequately drill tested in an area spanning 150 metres x 180 metres of the prospective corridor. Forward plan Resource drilling – Reverse circulation (RC) drilling of the upper region of the Wattle Dam stockwork domain has been planned in the coming months, to provide confirmatory intersections, satisfy QAQC protocols appropriate for JORC 2012 reporting, obtain material for specific gravity test-work, and retain adequate sample volume for potential metallurgical test work. Mineral resource estimate – a resource estimate comprising unmined mineralisation within the stockwork domain of the Wattle Dam Mine is planned to be completed in the coming months.