RC drilling at Maximus\u2019 Kandui prospect and Hilditch gold project has intersected lithium, nickel and gold
\nKandui and Hilditch are within the greater Lefroy lithium project where a US$3 million farm-in agreement was executed with KOMIR
\nThe company says Hilditch has near-term gold production potential
\n3,000m RC drilling to further test lithium targets planned<\/p>\n
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Reverse Circulation (RC) drilling results from Maximus Resources\u2019 <\/strong>Kandui nickel prospect and the Hilditch gold project in WA has intersected lithium, nickel and gold mineralisation.<\/strong><\/p>\n The company\u2019s Spargoville tenements are in the highly endowed Kambalda nickel province and the dominant Eastern Goldfields lithium-caesium-tantalum (LCT) province.<\/p>\n Kandui in particular is at the northern extent of the Spargoville and Mt Edwards corridor of nickel deposits, and around ~16km to the south of Mineral Resources<\/strong>\u2019<\/strong> (ASX:MIN)<\/strong><\/a> Mt Marion lithium mine.<\/p>\n Both Kandui and Hilditch are within the Lefroy lithium project, where the company has entered a US$3 million (~AU$4.8 million) Farm-in agreement with the Korea Mine Rehabilitation and Mineral Resources Corporation (KOMIR).<\/p>\n KOMIR is a Korean Government agency responsible for national resource security, supported through the development of overseas mining and processing capacity to supply the Korean market.<\/p>\n Assays from Maximus\u2019 15-hole, 1,658m RC program has flagged both nickel and lithium mineralisation at Kandui, along with shallow, high-grade gold at Hilditch.<\/p>\n \u00a0<\/strong><\/p>\n The RC drilling was designed to test multiple targets at the projects including the potential plunge of nickel sulphide mineralisation and to drill test a strong nickel-copper-PGE soil geochemical anomaly at Kandui, with assays including:<\/p>\n 7m at 0.48% nickel from 6m including 1m at 0.91% nickel from 11m, and 2m at 0.62% nickel from 18m, including 1m at 0.81% nickel from 19m; and The drilling also intersected a previously unknown pegmatite of 6m at 1.11% Li2O from 90m including 3m at 1.99% Li2O from 91m.<\/p>\n Numerous shallow dipping pegmatites have already been identified in the Lefroy lithium project area coinciding with a 2x1km lithium soil anomaly.<\/p>\n The company is confident the project has the potential to host a large LCT pegmatite mineral system.<\/p>\n \u201cThis drilling program has revealed a new lithium-bearing pegmatite at Lefroy that was hidden under cover,\u201d Maximus Resources (ASX:MXR)<\/strong><\/a> managing director Tim Wither said.<\/p>\n \u201cThe previously unknown lithium-bearing pegmatite is a very exciting development, as we are about to launch the first phase of our drilling program across the Lefroy lithium prospect in collaboration with our KOMIR partners.<\/p>\n \u201cKandui is known to have several shallow dipping intrusive pegmatites, crosscutting the nickel mineralisation, and this discovery highlights the potential for more lithium-bearing pegmatites to be found across the large lithium anomaly to be drill-tested at Lefroy.\u201d<\/p>\n \u00a0<\/p>\n Kandui Prospect location plan showing completed drilling, downhole nickel grades, and outcropping pegmatites. Source: MXR.<\/p>\n \u00a0<\/p>\n Wither says the nickel results are encouraging too and provide \u201cstrong validation\u201d of the company\u2019s geochemistry soil mapping program.<\/p>\n \u201cAll holes intersected nickel mineralisation proximal to an interpreted basal contact, and follow-up drilling is warranted,\u201d he said.<\/p>\n \u00a0<\/strong><\/p>\n All seven drill holes at Hilditch intersected gold mineralisation, including:<\/p>\n 5m at 2.23g\/t gold from 14m, 2m at 1.36g\/t gold from 63m, 1m at 1.21g\/t gold from 71m, and 1m at 1.24g\/t gold from 95m; Notably, Hilditch is adjacent to the state highway and proximal to several toll-treating processing plants and sits on the fertile Spargoville Shear Zone, between Karora Resources\u2019 (TSX:KRR) high-grade Spargo\u2019s Reward gold project and ~9km north of the company\u2019s 251,500oz Wattle Dam gold project.<\/p>\n \u201cThe separate drilling at Hilditch Gold continues to be effective, with these and previous drill program results to be utilised for a gold resource update,\u201d Wither said.<\/p>\n \u201cDue to its shallow, high-grade mineralisation, Hilditch has the prospect to be a near-term production source for the company.\u201d<\/p>\n An update of the 132,000t at 1.77 g\/t gold for 7,511oz resource is now under way.<\/p>\n \u00a0<\/p>\n The company now plans to kick off a 30 hole, 3,000m RC program to test the lithium soil anomaly with known pegmatites across the Lefroy lithium project.<\/p>\n A down-hole electromagnetic (DHEM) survey is planned across several holes at Kandui to assist with future drill hole targeting, with soil sampling also continuing at the Kandui, Sorake, Pinnacles, and Le-Bar prospects.<\/p>\n On the gold front, the resource update for Hilditch is under way and is expected to be finalised by early December.<\/p>\n MXR has also begun a review of the Larkinville gold project resource, with the aim of bolstering the company\u2019s 320,500 oz gold resource.<\/p>\n \u00a0<\/p>\n Want to hear more of the Maximus Story? Tune in below to hear from Wither on what it has taken to grow the company\u2019s Wattle Dam\u2019s resource thus far.<\/p>\n \u00a0<\/p>\n \u00a0<\/p>\n\n \ufeff<\/span>\u00a0<\/p>\n This article was developed in collaboration with Maximus Resources, a Stockhead advertiser at the time of publishing. <\/em><\/p>\n \u00a0<\/em><\/p>\n This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.<\/em><\/p>\n <\/span><\/p>\n The post The Trifecta: Maximus drills into lithium, nickel and gold at Spargoville\u2026and there\u2019s more to come<\/a> appeared first on Stockhead<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"Large LCT pegmatite system <\/strong><\/h2>\n
\n4m at 0.52% nickel from 100m, including 1m at 1.02% nickel from 125m.<\/p>\nNear-term production potential at Hilditch<\/strong><\/h2>\n
\n1m at 0.78g\/t gold from 9m, 4m at 0.89g\/t gold from 20m and 2m at 0.96g\/t gold from 101m; and
\n5m at 0.81g\/t gold from 12m and 3m at 0.52g\/t gold from 91m.<\/p>\n3,000m more of RC drilling planned<\/strong><\/h2>\n
Wattle Dam growth tracking swimmingly<\/strong><\/h2>\n