Maximus Resources Ltd (ASX, OTC) has reported promising results from a recent preliminary metallurgical test program conducted at the Eagles Nest Gold Deposit, located in Western Australia’s Eastern Goldfields. The program, which aimed to evaluate the gold recovery potential of the deposit, revealed high gold recoveries ranging from 89.5% to 92.4%. These results suggest that the deposit could be highly viable for future development.
The Eagles Nest Gold Deposit is situated approximately 7 kilometers south of Maximus’ Wattle Dam Gold Project, within the renowned Kambalda/Widgiemooltha region. The region is known for its rich gold mining history, and Maximus has focused its exploration efforts on unlocking the value of this promising resource.
Metallurgical Testing: A Key Step in Resource Evaluation
The metallurgical testing program was designed to assess the gold recovery rates across three distinct mineralisation zones: oxide, transitional, and fresh. These zones represent varying degrees of weathering and mineral alteration and are expected to be encountered at different mining depths. The test work covered a range of representative mineralised intervals to simulate the potential recovery outcomes across the expected mining widths of the Eagles Nest gold resource.
The results were highly encouraging, showing an average gold recovery rate of 90.5% in the oxide zone, 90.9% in the transitional zone, and 91.8% in the primary, or fresh, mineralisation. These recovery rates suggest that the gold mineralisation at Eagles Nest is “free-milling,” meaning it can be processed through conventional gold extraction methods without the need for complex or expensive techniques.
Free-Milling Mineralisation: A Positive Indicator for Future Development
One of the most important outcomes of the metallurgical tests is the confirmation that the Eagles Nest gold resource is non-refractory, or free-milling. This means that the gold can be extracted using standard processing techniques commonly employed throughout the Eastern Goldfields region. Free-milling gold deposits are considered more economically viable than refractory deposits, which require additional treatment to extract the gold effectively.
Maximus Resources’ Managing Director, Tim Wither, expressed his satisfaction with the results, stating that they provide confidence in the potential of the Eagles Nest project. “A key aspect of understanding any mineral resource potential is to test early for metallurgical performance,” he noted. “These results demonstrate Eagles Nest gold mineralisation is free milling, delivering excellent recoveries from conventional gold processing.”
Wither also highlighted that the combination of high recovery rates and the near-surface location of the mineralisation increases the economic potential of the deposit. “The combination of high metallurgical recoveries and near-surface mineralisation increases the economics of the Eagles Nest for future development,” he said.
Additionally, the Eagles Nest deposit remains open along strike, offering significant upside potential. Maximus has identified over 3 kilometers of untested strike, presenting an exciting opportunity for further exploration and resource expansion.
Next Steps: Follow-Up Drilling and Resource Updates
Building on the positive metallurgical test results, Maximus Resources has outlined its next steps for the Eagles Nest project, which include a follow-up drilling program set to begin next month. This drilling program will focus on further delineating the shallow mineralisation within an optimised pit shell. The goal is to improve the confidence in the mineral classification and prepare for an upcoming Mineral Resource Estimate (MRE) update.
Wither emphasized the importance of this follow-up drilling, stating, “The next steps for Eagles Nest are to follow up from the previous drill program, which delineated shallow mineralisation such as 8 metres at 3.12 g/t gold from 45 metres, including 1 metre at 15.9 g/t gold from 45 metres.”
The shallow mineralisation identified in previous drilling highlights the potential for high-grade gold near the surface, which could be advantageous for future open-pit mining operations. The follow-up drilling will target these shallow zones to enhance resource classification and further define the deposit’s potential.
Ongoing Metallurgical Testing and Development Studies
In addition to the follow-up drilling, Maximus Resources plans to conduct further metallurgical testing to optimize the gold recovery process. The company will evaluate key factors such as gravity recoveries, optimal grind size, and reagent consumption, all of which are critical for ensuring the most efficient and cost-effective gold extraction method.
Wither underscored the company’s commitment to de-risking the project by conducting comprehensive development studies. “The company continues to de-risk the project with development studies, including additional metallurgical testing to determine gravity recoveries, grind size, and reagent consumption for optimal gold recovery,” he said.
These studies are designed to refine the technical understanding of the Eagles Nest deposit and its processing requirements, ultimately increasing the project’s attractiveness to potential investors and stakeholders.
Mining Proposal Submission and Future Plans
Looking ahead, Maximus Resources is also focused on preparing for a mining proposal submission, which is scheduled for next year. This proposal will outline the company’s plans for advancing the Eagles Nest project, including the development of infrastructure, extraction methods, and environmental management strategies.
The mining proposal submission is an important milestone in the project’s development timeline and will be a key factor in determining the next phase of the project’s advancement. Maximus is committed to ensuring that all necessary development studies are completed to meet regulatory requirements and to optimize the project’s potential for successful execution.
Exploration Potential and Upside Opportunities
In addition to the promising metallurgical results, the Eagles Nest deposit offers significant exploration potential. As mentioned, the deposit remains open along strike, with over 3 kilometers of untested strike length. This unexplored area represents a compelling target for future drilling campaigns, which could potentially expand the resource and increase the overall value of the project.
Maximus Resources is actively pursuing these exploration opportunities, with the goal of growing the Eagles Nest resource and enhancing the project’s economic viability. The company’s ongoing commitment to exploration and development studies reflects its belief in the long-term potential of the Eagles Nest gold deposit.
Conclusion: Strong Progress at Eagles Nest Gold Deposit
Maximus Resources has made significant strides in advancing the Eagles Nest Gold Deposit, with positive metallurgical test results indicating high gold recovery rates and confirming the deposit’s free-milling nature. The combination of strong recovery rates, shallow mineralisation, and substantial exploration upside makes Eagles Nest a highly promising project for Maximus.
As the company moves forward with follow-up drilling, further metallurgical testing, and the preparation of a mining proposal, the future looks bright for the Eagles Nest project. With ongoing development studies and a clear strategy for resource growth, Maximus Resources is positioning itself to capitalize on the potential of this exciting gold deposit.
In the coming months, Maximus will continue to refine its understanding of the Eagles Nest resource, with the aim of delivering an updated Mineral Resource Estimate and advancing the project towards future development and eventual production.
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