Maximus Resources starts new gold drilling campaign at Wattle Dam
Proactive Investors
Published May 31, 2023 11:41
Updated May 31, 2023 12:00
Maximus Resources starts new gold drilling campaign at Wattle Dam
Maximus Resources Ltd (ASX:MXR) has started a reverse circulation (RC) and diamond drilling campaign at its Wattle Dam Gold Mine, 25 kilometres from Kambalda, Western Australia.
This program will be conducted in a staged approach targeting a previously untested potential shear-zone offset of mineralisation on the western side of the regional Spargoville Shear zone.
The initial stage consists of three investigation holes for around 1,200 metres and if successful will be expanded to a much larger program.
Drilling follows the completion of a detailed geological review of the Wattle Dam Gold Mine, in collaboration with a highly experienced external structural geological consultant.
“The commencement of the drilling program at Wattle Dam, follows several months of geological and structural reviews, in conjunction with a highly experienced structural geologist,” Maximus managing director Tim Wither said.
“The drilling campaign aims to explore a previously untested area on the western side of the regional Spargoville shear zone, immediately north of the Wattle Dam Gold Mine. Previous exploration drilling at Wattle Dam has concentrated on the eastern side of the Spargoville shear zone.
“The hypothesis for this drill program is that the Wattle Dam Main Lode has been offset by post-ore displacement by the Spargoville Shear Zone. It is speculated that the continuation of the Main Lode could potentially be found on the unexplored western side of the shear zone.”
Wattle Dam: a brief history
Mined by Ramelius Resources Ltd between 2006 and 2012, the Wattle Dam Gold Mine produced 267,000 ounces of gold at 10.6 g/t of gold.
The majority of the produced gold was from shallow underground operations, targeting a high-grade ore shoot producing 213,650 ounces at 14.9 g/t.
Maximus recently undertook a comprehensive structural analysis of the Wattle Dam and Redback gold deposits in collaboration with an expert structural geological consultant.
The results of this study have provided valuable geological insights and identified several structural gold targets within the Wattle Dam and Redback gold deposits.
Wattle Dam long-section 356200Em looking west.
A look at the geology
The geology of the Wattle Dam gold deposit consists of a steep west-dipping sequence of metamorphosed mafic and ultramafic volcanic rocks and interflow metasedimentary rocks.
A central ultramafic unit within the geological sequence serves as the primary host for the Wattle Dam main lode. The Wattle Dam deposit exhibits abundant coarse gold mineralisation associated with biotite alteration.
A significant characteristic of the Wattle Dam gold deposit is the prominent north plunge observed in high-grade shoots and mineralised zones. Immediately to the west of Wattle Dam is the regional Spargoville Shear, a steep east-dipping, high-strain zone.
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At depth, the Main Lode is intersected by the shear zone, causing the lode to appear to terminate. The Spargoville Shear zone movements could have caused the Main Lode to be displaced. This suggests that a target area may exist on the western side of the shear zone, specifically northward and up-dip from the termination point of the lode.
Maximus will need to further explore to determine whether the Main Lode continues on the western side of the Spargoville shear zone.
Based on the review, the drill program focuses on exploring the untested area to the north of Wattle Dam to identify potential favourable geological conditions for gold mineralisation and to determine if the Wattle Dam lode has been offset by the Spargoville Shear Zone.
Wattle Dam Gold Mine and surrounding gold intersections >0.5 g/t gold.
What’s next
The RC and diamond drill tail holes are designed to be completed in a staged approach and are part of a much larger program following successful outcomes.
Updates on the progress will provide the company with steady news flow over the coming weeks and months.
The drill program at Wattle Dam will be completed in conjunction with the ongoing nickel exploration program and is expected to be completed over a two-to-three-week period.
Assay results are expected to follow early next quarter.
Maximus will also advise on the nickel exploration drill program closer to the start of drilling.
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