ASX Announcement 24th February 2017 Excellent metallurgical results for Eagles Nest gold ore HIGHLIGHTS Metallurgical testing of Eagles Nest ore produces excellent gold recovery results Significant gravity gold recovery rates Total gravity and cyanide recoverable gold up to 94% Ore intended for processing through Maximus’ recently acquired Burbanks gold treatment plant Further metallurgical test work to optimise grind size and increase gold recovery Next phase is pit optimisation and feasibility study SUMMARY Maximus Resources Limited (ASX:MXR) is pleased to update shareholders on initial metallurgical test work results undertaken on Eagles Nest ore samples via a process emulating the Burbanks gold treatment plant flow sheet. The samples were collected from the company’s Eagles Nest project, part of its high grade Spargoville gold project south of Kalgoorlie in Western Australia. Metallurgical testing for gold recovery was undertaken on Reverse Circulation (RC) drill chip samples collected from the recent drill program at the Eagles Nest deposit. The Metallurgical testing was completed by Bureau Veritas in Kalgoorlie to determine gold recovery rates and examine the suitability for processing Eagles Nest ore through the company’s Burbanks gold processing plant. Composite samples from 3 RC drill holes, two representing transitional ore and one primary (fresh rock) mineralisation, were crushed and ground to 106µm and passed through a gravity gold recovery circuit. The gravity concentrate and the gravity tail were subjected to cyanide leaching for 24 hours. Variable results of 36-68% of the gold was recovered in the gravity circuit, where it was leached to greater than 98% recovery in 24 hours from all three composites. The gravity tail leach resulted in 89-91% gold recovery from the two transition holes but only 57% recovery from the primary mineralisation. Total gold recovery was 93-94% for the two transition holes and 86% for the primary mineralisation
MXR Price at posting:
0.3¢ Sentiment: Buy Disclosure: Held
