PERTH (miningweekly.com) – ASX-listed junior Maximus Resources has reported a maiden resource of 407 550 t, grading 204 g/t gold at its Eagles Nest deposit, in Western Australia.
The project is estimated to host 25 800 oz of gold.
The resource is based on 51 reverse circulation drill holes, totalling 5 542 m, with Maximus telling shareholders on Tuesday that additional resource drilling would start this month to potentially add further resource.
The Eagles Nest deposit is located about 7 km south from the previously mined Wattle Dam gold mine, which Maximus also owns, and is about 60 km from the recently acquired Burbanks gold treatment plant.
The Burbanks plant has a capacity of 180 000 t/y and is currently being refurbished with an anticipated completion time of the first quarter of 2017. The Burbanks mill will initially treat third-party ore feed to generate maiden revenues, while the company defines and progresses its own gold resource through to feasibility, approval and production.
Eagles Nest is slated to be the first gold deposit that will be mined.
Edited by: Creamer Media Reporter
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