Adelaide, Oct 19, 2006 AEST (ABN Newswire) - Maximus Resources Limited (ASX: MXR) today announced an inferred gold resource of 59,000 ounces at its Yandal Project in Western Australia.
In the first resource announcement for the Yandal Project, Maximus said a review of previous drilling data had identified a JORC-compliant initial inferred resource of 1.1 million tonnes at 1.7 grams gold per tonne, using one gram per tonne as lower cut off and 12 grams per tonne as the upper cut off.
Maximus Managing Director, Dr Kevin Wills, said additional drilling at the Flushing Meadows tenement "could significantly increase the total contained ounces".
Maximus engaged consultant geologists, Andrew Hill and Douglas McLean, to review previous drilling and sampling from three zones of gold mineralisation at the Yandal Project, located near Wiluna in the Eastern Goldfields region of WA.
"This resource is situated at depths of near surface (less than five metres) to a maximum of 160 metres from surface with the majority of the tonnage lying within 100 metres of surface and over 650 metres of strike length," Dr Wills said.
"The consulting geologists also indicated that a significant expansion of this inferred resource will be possible once infill and confirmation drilling can be undertaken on the known 1000 metres of along-strike extensions to the mineralised zone," he said.
Dr Wills said the Yandal Project tenement applications were expected to be offered for grant in the December quarter, and additional drilling would then commence.
Maximus listed on the ASX in October last year and has interests in uranium, gold, nickel, copper and platinum exploration projects in SA, WA and the NT.
Contact
Peter Gill
Senior Consultant
FIELD PUBLIC RELATIONS
231 South Road
MILE END SA 5031
Tel: 08 8234 9555
Fax: 08 8234 9566
Mb: 0417 784 059
peter@fieldpr.com.au
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