Sydney, Feb 17, 2006 AEST (ABN Newswire) - Maximus Resources Ltd (ASX: MXR) report gold results for an additional two core drill holes continue to indicate potential for high grade gold mineralisation at the historic Bird-in-Hand Gold Mine near Woodside in the Adelaide Hills.
Hole BH-19, situated 40 metres north-northeast of previously reported drill hole BH-17, recorded 6 metres from 183 metres down hole averaging 23.5g/t gold (Estimated true width 4.2 metres). The intersection includes 1.5 metres of quartz reef averaging 78.2g/t Au in which a 0.45 metre section with abundant pyrite assayed 226g/t. No grade cut has been applied to the latter value in this early stage of the Bird-in-Hand investigation.
Hole BH-18 situated 20 metres south-southwest of BH-17 intersected 0.15 metres of reef quartz before traversing a 2.85 metre cavity thought to be due to solution of the carbonate rich footwall. While the missing core zone in a vital part of the hole was unfortunate, the recovered portion of oxidised reef graded 3.17g/t Au.
Base metal assays for BH-18 and BH-19 are still to be received, but neither hole had sufficient visible base metal sulphides to suggest any significant values will be recorded.
BH-19, together with previous Maximus hole BH-17 and drilling by a previous explorer, has indicated high grade gold mineralisation is present over approximately 40 metres of lateral extent. The mineralisation remains open to the north and at depth. Even the failure of BH-18 to intersect a full thickness of reef suggests that an extension of the potentially mineralised reef structure may exist for an additional 20 metres laterally to the south of BH-17.
These overall results continue to be highly encouraging and reinforce the Company's objective to locate sufficient high grade gold mineralisation below the old Bird-in-Hand Gold Mine to justify resource evaluation drilling.
Maximus is in the process of completing two holes that are designed to explore for down dip extensions of the high grade gold and base metals intersected in BH-17. This drilling is expected to be completed by the end of February with the assay results for both holes anticipated during the second half of March.
Contact
Kevin Wills
TEL:+61 8 8132 7960
MOB:+61 419 850 997
Kevin Skinner
Senior Consultant
FIELD PUBLIC RELATIONS
231 South Road
MILE END SA 5031
Tel: (08) 8234 9555
Fax: (08) 8234 9566
Mob: 0414 822 631
kevin@fieldpr.com.au
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