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Maximus Resources Limited (‘Maximus’ or the ‘Company’, ASX:MXR) is pleased to announce upgrades to the Hilditch and Larkinville Mineral Resource Estimates (MRE), which are part of the Company’s 117 sq km Spargoville Project, located 25km from Kambalda, Western Australia.
- 160% increase in gold resources at Hilditch and a 21% increase in gold resources at Larkinville.
- 91% (12,800oz @ 1.8 g/t Au) of Larkinville gold resources reported in the higher confidence Indicated classification, providing a strong foundation for future toll-treating development studies.
- Maximus’ gold resources are situated on granted mining tenements, with excellent access to infrastructure, service providers and several toll-treating options within a ~70km haulage distance.
- Both gold resources are reported as 100% open-pit resources within A$2,800 optimised open-pit shells at a cut-off grade of 0.5 g/t Au.
- Mineral resources at both deposits are shallow, with mineralisation at surface and open at depth, with significant strike extension remaining at Hilditch.
- The Company’s 335,040 oz of gold in resources has substantial scope for future growth with mineralisation remaining open and constrained only by drilling.
Maximus’ Managing Director, Tim Wither commented“With the completion of the Hilditch and Larkinville MRE updates, Maximus now has combined group gold resources of 335,000 oz. The process of completing the MRE updates has demonstrated the fantastic potential to continue to increase gold resources through targeted drilling at both Larkinville and Hilditch. Both deposits are ideal for near-term production, located on granted mining tenements, with potential for strong economics given the shallow mineralisation starting at surface and favourable ore body geometry.”
The Company continues to make consistent improvements in Mineral Resource classifications, through efficient drilling, and as our geological understanding of the deposits continues to grow, so does the potential across Maximus tenements.”
The MRE updates were completed by an independent technical expert, and based on infill and extension drilling completed in 2022 and 2023, leading to a substantial increase in the Indicated Resource category for both the Larkinville and Hilditch deposits. 91% of Larkinville resources are reported under the higher confidence indicated classification, while 48Å of the Hilditch resources are now classified as indicated category.
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