Maximus Resources looks to be on the money at its Wattle Dam project in WA, with drilling at the Redback discovery returning visible gold in drill core. The company’s latest results come from just 600 metres south of the high-grade Wattle Dam mine and include 3m at a stunning 17.2 grams per tonne in a 6m intercept going at 9.4 g/t from 257m down-hole.
Latest drill results from Redback confirm the strike and plunge extension to the deposit, with exploration having now traced the gold-bearing lode from just 40m below surface to a depth of more than 250m. Maximus says it thinks the rich shoot continues to depth and has recently received funding under the WA government’s Exploration Incentive Scheme to plumb the mineralised system at more than 450m below surface.
The first phase of the Redback drill programme has been very successful, with several exceptional intersections including assays at the start of the drill programme with RBDD003 reporting 16.3m at 17.2g/t gold and 5.8m at 17.9g/t gold from 240m.
The deeper step-out holes to the north show strong zones of alteration and sulphide mineralisation highlights that mineralisation remains open to the north, towards Wattle Dam.
Results from Maximus’ first-phase drilling at Redback are being incorporated into its geological database and will help guide follow-up drilling. This will include the upcoming EIS co-funded holes that could potentially double the down-plunge extent at Redback, according to the company.
Redback sits within Maximus’ extensive Spargoville tenure, 60km south of Kalgoorlie, that covers more than 20km of the gold-rich shear that also hosts the Wattle Dam gold mine.
Wattle Dam was historically one of Australia’s highest grade gold mines. The mine was originally developed by Ramelius Resources in 2006 and started its life as a small open pit before growing into a larger underground operation that was developed to about 300m below surface.
Wattle Dam went on to produce more than 265,000 ounces of gold at an average grade of 10.6 grams per tonne before being mothballed by Ramelius in 2012, not long after the mid-tier miner moved further west and onto bigger things at Mount Magnet in WA’s Murchison region.
In more recent years, Maximus recognised the potential of the gold-rich system at Wattle Dam and its unique position in the state’s eastern goldfields. In short time it has outlined a swag of new discoveries including Redback, Huntsman, S5 and Golden Orb.
The company’s exploration program at Redback has already outlined a potentially open-pittable resource of 440,000 tonnes at a healthy 3 g/t gold, containing 42,900 ounces of gold. However, the ongoing drilling campaign continues to extend the prospective precious metal system, with intercepts indicating that gold grades increase with depth.
Maximus is now turning its attention to drilling out the near surface mineralisation at Redback and the adjoining southern discovery at Huntsman. A program of reverse circulation drilling is scheduled to commenced in the weeks ahead and is likely to go back-to-back with additional diamond drilling to infill on previous work across the emerging gold lode.
The company expects to release a new resource estimate following the next phase of drilling. However, with exploration continuing to extend Redback’s footprint along strike and at depth it sees scope for the discovery to grow in the months ahead.
Maximus has moved fast at Spargoville over the past 12 months given the handbrakes being applied in the industry due to drill rig and assay laboratory demand. Gold’s climb back towards US$1,900 an ounce will ensure it keeps the foot down.
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