Maximus Resources Ltd Receives Pleasing Assay Results from Hilditch Gold Deposit

Introduction

Maximus Resources Ltd (ASX:MXR, OTC:MXRRF) recently announced some encouraging assay results from reverse circulation (RC) resource drilling at the Hilditch gold deposit. The company, which owns a controlling 90% share of the deposit located in Western Australia, reported significant high-grade gold mineralization in the latest drilling campaign.

Drilling Results

Thirteen RC holes were drilled at Hilditch, totaling 522 metres. The drilling targeted areas along strike from a recent high-grade intersection, resulting in the discovery of more shallow high-grade gold mineralization within an optimized open pit shell. Key intersections from the drilling campaign include:

• 19 metres at 3.21 g/t gold from 16 metres
• 6 metres at 5.64 g/t gold from 18 metres
• 5 metres at 3.28 g/t gold from 30 metres

Development Plans

All development studies for Hilditch have been completed, and the focus now shifts to finalizing open pit optimizations and designs. Maximus’s managing director, Tim Wither, expressed optimism about the project’s economic outlook and emphasized the company’s efforts to generate cash flow through open pit operations.

Geological Setting and Metallurgical Testing

The Hilditch deposit hosts a 19,500-ounce gold resource with an average grade of 1.3 g/t gold. Geologically, the gold mineralization is hosted within an east-dipping ultramafic sequence in contact with felsic volcaniclastic rocks. Metallurgical testing has confirmed that the gold resource is free milling, with high gold recoveries, indicating amenability to conventional Carbon in Leach (CIL) processing.

Impact on Investors

Analysts were closely monitoring Maximus Resources Ltd’s latest drilling results and development updates. The positive assay results and progress towards mine approvals could potentially boost investor confidence in the company’s growth prospects and contribute to a positive sentiment in the market.

Impact on the Industry

The successful expansion of high-grade gold mineralization at the Hilditch deposit demonstrates the ongoing potential for significant gold discoveries in Western Australia. This could attract further investment into the region’s mining sector and potentially spur new exploration activities in the area.

Conclusion

Maximus Resources Ltd’s promising assay results from the Hilditch gold deposit indicate a favorable outlook for the company’s future operations. The successful drilling campaign and development studies lay a solid foundation for advancing the project towards production, potentially benefiting both investors and the wider mining industry.