NEW MAXIMUS DRILL RESULTS ENHANCE W.A. IRON ORE TARGET
Maximus Resources Limited today reported further intersections of “abundant magnetite” in early results from a new drilling program on a separate target at the Company’s Canegrass iron ore-vanadium prospect near Windimurra in Western Australia.
Assays for one reverse circulation hole - MNRC38 - indicate 35 weight % total iron over a true width of 54 metres.
Maximus (ASX: “MXR”) said it had already completed several drill holes as part of testing its second Canegrass gravity target at Block 3 which contains an exploration target of between 200 million tonnes and 300 million tonnes of magnetite-rich iron ore.
The Block 3 gravity target is separate and in addition to the 1.7 billion tonnes-to-3 billion tonnes target reported for Block 1 which earlier this month yielded significant results in drill hole MND1, as announced to the ASX on 10 June 2008.
• (See attached today’s Maximus ASX statement and refer to previous Maximus announcements and audio broadcasts on Canegrass prospect on 13/6/08, 11/6/08, 10/6/08, 29/5/08, 28/5/08 and 9/5/08.)
Maximus notes that these exploration targets are not estimates of Mineral Resources as each is based on geology and geophysical modelling. There has not been sufficient exploration to define a Mineral Resource and it is uncertain if further exploration will result in the estimation of any Mineral Resource.
MEDIA CONTACTS: Dr Kevin Wills John Field Maximus Resources Field Public Relations (08) 8132 7960 (08) 8234 9555 0419 850 997 0418 819 527
MXR Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
