The Wattle Dam Story - Maximus Resources Limited (ASX:MXR)
Coffee with Samso Episode 72 with Tim Wither, Managing Director of Maximus Resources Limited (ASX:MXR)
Maximus Resources Limited (ASX: MXR) is working on the company making Wattle Dam Gold Mine.
The Wattle Dam story comes with a bit of history. I actually made a weak attempt to bid for the project way back in 2009 on some of the adjacent tenements but that never came to pass.
In my opinion, within the Kambalda region, comparatively, the Wattle Dam area is one of the least active. There is no doubt that this whole region has been one of the best nickel hunting places. The Widgiemooltha Dome has been a classic hunting ground for nickel and this sits just south of the tenements held by Maximus Resources Limited.
In 2020, the mineral exploration sector experienced one of the best years for capital funding. If I am not wrong, I could go as far as saying that this is one of the best years of capital allocation in this sector for many decades. I feel that this rush for good projects has allowed companies to finally drill projects that could unearth the next bag of mines.
Broad zones of intercept confirms that the area has the potential to produce another Wattle Dam. The latest drill results of 16m @ 9.3 g/t and 5.8m @ 10.1 g/t confirms that there is another Wattle Dam to be discovered.
In this episode, Tim Wither tells us what is happening with the company and why he believes that the projects within the company are geared for better things to come. The exciting part is the potential for gold and nickel in a portfolio of tenements that have not had a lot of work done.
About Tim Wither
Maximus Resources Limited
Tim Wither is a mining executive with over 20 years experience in the resource sector, both domestically and internationally, with key involvement in the development of several greenfield base metal projects. Mr Wither has held various senior executive and strategic leadership roles in Australia, India, Africa, South America, with publicly listed companies on both the ASX and TSX.
Tim is a graduate of the Australian Institute of Company Directors and holds an MBA from Curtin Graduate School of Business, Graduate Diploma of Mining, Graduate Diploma in Natural Resource Law, as well as a Bachelor of Science in Mine Engineering and Surveying from the WA School of Mines. He is also a candidate for Master of Commercial and Resources Law at University of WA.
About Maximus Resources Limited
Maximus Resources (ASX:MXR) is a junior mining explorer with tenements located 20km from Kambalda, Western Australia’s premier gold and nickel mining district.
Maximus Resources' Spargoville tenements are located in the heart of Australia’s premiere gold and nickel mining district – just 25km from Kambalda, Western Australia.
Home of the very high-grade historic Wattle Dam Gold Mine, the Spargoville tenements are readily accessible and are located less than 50km from six gold processing plants and just 25km from BHP’s Kambalda Nickel Concentrator.
Mined until 2012, the Wattle Dam Gold Mine was one of Australia’s highest-grade gold mines, producing ~286,000 oz gold @ 10.1 g/t gold. The focus of Maximus Resources is the discovery of the next Wattle Dam Gold Mine.
Maximus Resources has been granted 48 sq km of mining licences and has gold rights across a further 60 sq km along the very fertile Spargoville Shear Zone, hosting multiple significant gold and nickel deposits.
The Wattle Dam Gold Mine Project
The Wattle Dam gold deposit is one of Australia’s highest-grade gold mines, hosted in sheared and metamorphosed ultramafic rocks and interflow sedimentary units.
Historical production from Ramelius Resources (ASX:RMS) at Wattle Dam from 2008-12: Open Pit 52,700oz gold @ 5.3g/t gold Underground 213,650oz gold @ 14.9g/t gold Total 266,350oz gold @ 10.6g/t gold
The high-grade ore zones at the site are vertically plunging, 80-100m in strike length and 8-15m wide. Shallow operations have mined to 365m below the surface but the finding of coarse gold veins resulted in the geological modelling under-calling contained gold.
High-grade mineralisation within the Wattle Dam pit is associated with intense biotite alteration within komatiitic ultramafics.
Chlorite / biotite / amphibole ± sulphide alteration surrounding main ore zone 40-70m wide.
During mining operations at Wattle Dam areas of strong alteration and low assays were observed to contain coarse-free gold and subsequently mined to a geological envelope.
Deep drilling suggests the alteration associated with the Main Zone mineralisation extends to the Spargoville shear zone. This was modelled but never drill tested.
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