Maximus webs out Redback gold plans

The initial results of a diamond drilling campaign at Redback confirmed continuity of high-grade mineralisation within the deposit, which is a part of Maximus’ Spargoville tenements.

Significant intercepts included 16.3 metres at 9.3 grams per tonne of gold from 229 metres, 2.0 metres at 10.1 grams per tonne of gold from 258 metres and 13 metres at 1.9 grams per tonne of gold from 232 metres.

“These initial diamond drill results from the infill and resource extension drill program greatly increases our confidence in the gold potential at Redback,” Maximus managing director Tim Wither said.

“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.”

After the current 2500 metre diamond drilling program is completed by mid-March, Maximus has proposed a second drill program to follow up initial assessment of the Redfill infill/extension program.

Once the second drill program is finished, Maximus will deliver a revised mineral resource estimate.

As the company continues exploration and edges closer to submitting a mining proposal, the Western Australian Government Department of Mines, Industry Regulation and Safety will require spring and autumn flora and fauna surveys.

Maximus has already completed the spring surveys and will follow up with an autumn survey of the greater Redback area, including oxide gold resources at Eagles Nest and Hilditch.

The Redback gold deposit has an inferred resource of 440,000 tonnes at 3 grams per tonne of gold for 42,900 ounces and is part of Maximus’ plans to expand its future development options.

The deposit is geologically similar to the nearby high-grade Wattle Dam gold mine, formerly owned by Ramelius Resources, with visible high-grade gold hosted within ultramafic lithologies.

The Wattle Dam mine is one of Australia’s highest grade gold resources and produced 255,350 ounces of gold at 10.6 grams per tonne of gold between 2008 and 2012.