SHALLOW HIGH-GRADE GOLD CONFIRMED AT 8500N PALEOCHANNEL

Maximus Resources reports promising early drill results from its first-phase RC program.

Maximus Resources Limited (ASX:MXR) has announced encouraging results from the first 46 drill holes of the 102-hole, phase-1 reverse circulation (RC) program at its 100%-owned 8500N Paleochannel project, located 25 km from Kambalda, Western Australia.

The program, which totals 3,186 metres, aims to improve geological confidence while extending known mineralisation into underlying saprolite zones. Drill results confirm significant shallow high-grade gold mineralisation, with intersections observed within both paleochannel gravels and the underlying primary mineralised zone.

Highlighted results include:

4m @ 5.2g/t Au from 14m, incl. 2m @ 9.5g/t Au from 14m (PCRCO26)
2m @ 6.6g/t Au from 13m (PCRCO32)
4m @ 3.2g/t Au from 10m, incl. 2m @ 5.4g/t Au from 12m (PCRCO33)
3m @ 2.8g/t Au from 11m, incl. 1m @ 5.3g/t Au from 11m (PCRCO38)
6m @ 2.7g/t Au from 36m, incl. 1m @ 10.9g/t Au from 40m (PCRCO12).

These initial results suggest the 8500N Paleochannel offers a low-cost, low-risk production opportunity due to its high-grade, free-digging gold mineralisation.

Maximus’ Managing Director, Tim Wither, commented:

The initial results from the first phase drilling at the 8500N Paleochannel have returned several shallow high-grade gold intervals, highlighting the shallow nature of the gold mineralisation and a mineralised zone within the primary zone directly below the paleochannel. These intersected gold grades in the paleochannel gravels and underlying primary mineralisation are highly encouraging when compared to the 8500N primary mineral resource grade directly below which sits at 1.25g/t Au.

Mineralisation is intersected at multiple levels suggesting a potential connection between high-grade paleochannel gold mineralisation and primary gold mineralisation beneath. This information suggests that the paleochannel gold may be remobilised from either the primary mineralisation below or a potential mineralised source further along strike to the north. With the Company’s systematic approach to exploration, a substantial amount of data has been obtained from this initial result and we look forward to receiving the results from the northern zone before planning the second phase infill drill program.