Maximus Resources Limited Updates Shareholders on Assay Results at Hilditch Gold Deposit

Sydney, Australia: Maximus Resources Limited has made significant progress in its assay results from a completed Reverse Circulation (RC) drill program at the Hilditch gold deposit, a 90/10 joint venture with Bullabulling Pty Ltd. The program aimed to investigate recent intersected high-grade zones, and the company has commenced updating the Hilditch Mineral Resource Estimate (MRE) to finalize optimised open-pit designs. Managing Director Tim Wither expressed enthusiasm for the project's potential, citing the recent drilling results and the proximity to multiple regional gold processing facilities.

Key Takeaways:

Eleven RC holes (722m) were drilled at Hilditch to investigate high-grade zones.
The drilling results, including 19m @ 3.21g/t Au from 16m, fall within optimised open pit shells and support the MRE update.
Hilditch offers a promising near-term gold production prospect for Maximus, situated on an approved mining tenement near the Coolgardie-Norseman highway.
The existing 19,500 oz Au @ 1.3 g/t Au mineral resource is shallow, with mineralisation commencing at the surface over a 200m strike length and remains open at depth.
Gold mineralisation at Hilditch is associated with east-dipping structurally controlled contacts between mafic/ultramafic and volcaniclastic units.
Preliminary metallurgical test work indicates that the mineable ore is free milling (non-refractory) with gold recoveries between 91.4% and 95.8%.

Statistics:

722m of RC drilling was completed at Hilditch.
19m @ 3.21g/t Au from 16m is one of the notable drilling results.
The existing mineral resource estimation is 19,500 oz Au @ 1.3 g/t Au.
Gold recoveries from preliminary metallurgical tests range from 91.4% to 95.8%.

Sources:

ASX announcement 19 December 2023: https://www.asx.com.au/asx/share-prices/maximus-resources-ltd-MXR
ASX announcement 3 July 2024: https://www.asx.com.au/asx/share-prices/maximus-resources-ltd-MXR