Maximus Resources Limited (ASX:MXR) Achieves High Gold Recoveries at Eagles Nest
High Gold Recovery Rates Achieved
Maximus Resources Limited (ASX: MXR) has announced that recent metallurgical test work from the Eagles Nest Gold Deposit achieved gold recovery rates ranging from 89.5% to 92.4%. This testing was conducted on various mineralised intervals to assess potential recovery rates and confirmed the deposit’s free-milling status, indicating suitability for conventional processing methods.
Robust Returns Indicate Project Viability
Average gold recoveries reported were 90.5% in the oxide zone, 90.9% in transitional mineralisation, and 91.8% in fresh rock. The Eagles Nest gold resource is estimated at 42,500 ounces at 2.0 g/t Au. The accessibility to infrastructure and multiple toll-treatment options within a 60km radius enhances the project’s potential.
Executive Commentary
Managing Director, Tim Wither, remarked, “These results demonstrate Eagles Nest gold mineralisation is free milling, delivering excellent recoveries from conventional processing. High metallurgical recoveries combined with shallow mineralisation increase the project’s economics for future development.” He further noted that follow-up drilling in early December will target shallow mineralisation to refine resource classification ahead of a Mineral Resource Estimate update.
Future Development Plans
Maximus is advancing with a follow-up drilling program at Eagles Nest slated for December, aimed at further delineating shallow mineralisation. The company will also conduct additional metallurgical testing to evaluate gravity recoveries and optimise processing. Alongside these efforts, development studies are underway in preparation for a Mining Proposal submission scheduled for 2025.
Conclusion
The announcement of positive metallurgical test results marks a significant milestone for Maximus Resources and its ongoing development plans for the Eagles Nest project.
Motley Fool contributor Kiarra Jackson has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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