annc: deepest hole at adelaide hills gold proj

HIGHLIGHTS
• The deepest diamond drillhole at Birdin-Hand (BH-42) in the Adelaide Hills has intersected a true width of 10.5 metres
at about 400 metres depth averaging 15.5g/t gold (Figure 1).

• This result implies potential to increase the total gold resource at Bird-in-Hand to the previously targeted 200,000 to
250,000 ounces.

• Commencement of prefeasibility in second quarter of 2008 is now likely

BIRD-IN-HAND GOLD PROJECT
SOUTH AUSTRALIA
100% MAXIMUS
Result of BH-42
Vertical hole BH-42 at the Bird-in-Hand Gold Project
near Woodside in the Adelaide Hills was drilled to a
total depth of 421.6 metres (Figure 2). The mineralised
intersection of 14.2 metres from 375 metres down hole
assayed 15.5 grams gold per tonne and has a true width
of 10.5 metres. Included are intervals of 2.0 metres from
380.0 metes at 28 grams per tonne and 3.2 metres from
385.9 metres at 38 grams per tonne.
The new hole is located approximately 70 metres down
plunge from wedge hole BH-28W which recorded 8
metres from 361 metres down hole at 13.4 grams gold
per tonne (Figure 1).


As well as being the deepest, BH-42 also contains one
of the widest mineralised intervals of 22 metres from
369 metres at over 0.5g/t gold located at Bird-in-Hand. It
therefore provides evidence that the lode may continue
to increase in width with depth.
Implications for Targeted Resource Potential
Maximus has previously indicated that its target for a
potential mine development at Bird-in-Hand is of the
order of 200,000 to 250,000 ounces of high grade gold
(Figure 1).

The discovery of thick, high-grade gold mineralisation
in hole BH-42 at a depth equivalent to 400 metres
vertically below the historic surface expression and
some 420 metres down plunge of the old underground
mine workings, is considered highly encouraging for the
future of this project.

Maximus recognises there is insufficient drilling at depth
to estimate a Mineral Resource below the 75m RL, and
that further exploration drilling at depth may not lead
to the estimation of a Mineral Resource. However, the
exciting thickness and grade of BH-42 mineralisation in
a geologically predictable lode gives a strong indication
that Maximus can reach its target of 200,000 to 250,000
ounces of potentially economic gold mineralisation
beneath the historic Bird-in-Hand gold mine.

Objectives of Current Drilling Program

The current program of three holes has the dual
purpose of outlining the width and gold grade of the
Bird-in-Hand lode to a vertical depth of 500 metres, and
providing deep samples for water quality tests as part of
the hydrogeological study of groundwater at Bird-in-
Hand.

Water Quality

Preliminary down hole geophysical probing and water
analyses from of BH-42 have indicated the water quality
to be in the potable to sub-potable range. Further water
testing will be undertaken in the other two proposed
holes. Initial results are considered encouraging
and should give strong support to an application
to the South Australian Minister for Environment
and Conservation to undertake a pumping test of
groundwater drawdown and recharge during the
winter of 2008.

Prefeasibility Study

Successful intersections of mineralised lode in each of
the current program’s additional two holes, will likely
lead Maximus to commence a prefeasibility study into
the economic, social and environmental impact of
mining at Bird-in-Hand during the second quarter of
2008.