Maximus Resources Announces Positive Metallurgical Results at Eagles Nest Gold Deposit
MAXIMUS RESOURCES LIMITED (MXR) Share Update November 2024 Wednesday 20th
Maximus Resources Achieves High Gold Recovery at Eagles Nest
Maximus Resources Limited (ASX: MXR) has announced promising results from metallurgical tests at its Eagles Nest Gold Deposit, highlighting high gold recovery rates which could enhance the project's economic viability.
Instant Summary:
- Gold recovery rates between 89.5% and 92.4% achieved.
- Tests conducted on oxide, transitional, and fresh mineralised intervals.
- Eagles Nest gold resource confirmed as free-milling, suitable for conventional processing.
- Located in Western Australia's Eastern Goldfields with excellent infrastructure access.
Metallurgical Test Results
Maximus Resources Limited has reported the results of its metallurgical test program at the Eagles Nest Gold Deposit, located near the company's Wattle Dam Gold Project in Western Australia. The tests showed impressive gold recovery rates, ranging from 89.5% to 92.4%, across different mineralisation zones.
The test work was conducted on representative samples from oxide, transitional, and fresh mineralised intervals. The results demonstrated an average gold recovery of 90.5% in the oxide zone, 90.9% in transitional mineralisation, and 91.8% in primary mineralisation. This confirms that the Eagles Nest gold resource is free-milling, making it suitable for conventional processing methods prevalent in the region.
Project Location and Infrastructure
The Eagles Nest Gold Deposit is strategically located on granted tenements with excellent access to infrastructure and multiple toll-treatment options within a 60km radius. This accessibility, combined with the high recovery rates, enhances the project's potential economic viability.
Maximus Resources is planning further exploration and development activities at Eagles Nest. The next steps include a follow-up drilling program to further delineate shallow mineralisation and improve mineral classification confidence. This is in preparation for a Mineral Resource Estimate update.
The high gold recovery rates indicate strong potential for economic extraction, which could positively impact Maximus Resources' stock value. The project's location and infrastructure access further enhance its attractiveness. Investors may view this as a positive development, potentially leading to increased interest in the company's shares.
Investor Reaction:
Analysts are likely to react positively to the high recovery rates and the project's strategic location. The confirmation of the resource as free-milling is a significant advantage, reducing processing costs and risks. However, market reactions will also depend on broader gold market trends and investor sentiment.
Conclusion:
Maximus Resources' announcement of high gold recovery rates at Eagles Nest is a positive development for the company. Investors should watch for further updates on the project's progress and consider the potential long-term benefits of the company's strategic initiatives.