media release commercial commentary

The media release just out on the amazing tonnage showing up in the drilling campaign near mt magnet for Maximus
Looks like it's heading for more than 4 billion tonnes....There were a few people who thought I was crazy about thinking Maxmius could be the 4th force in iron-ore in australia....the drilling is starting to tell the story....


"FOR IMMEDIATE RELEASE
25th August 2008
MAGNETITE-RICH ZONES AT W.A. PROJECT
BOOST MAXIMUS’ COMMERCIAL HOPES
The discovery of three thick magnetite-rich zones of iron mineralisation has fuelled
confidence that the Canegrass project near Windimurra in Western Australia will yield
a broad variety of valuable commercial opportunities.
In an announcement today, Adelaide-based Maximus Resources Limited (ASX:
“MXR”) said preliminary drilling programs totalling 7,000 metres had confirmed the
presence of three magnetite-enriched zones that would now be the focus of closerspaced
reverse circulation drilling targeting 280-500 million tonnes of iron ore.
The new target, covering two areas of Block 3 at Canegrass, is in addition to a
previously reported target of 1.7-3.0 billion tonnes of 20-35% magnetite for Maximus’
principal Block 1 target.
“Preliminary standard Davis Tube tests on these three zones have readily produced
magnetic concentrates containing over 50% iron, with variations in composition that
should enable a wide range of commercial opportunities,” Maximus Resources’
Managing Director, Dr Kevin Wills, said.
“These include high iron and vanadium with moderate titanium for a vanadium-rich
concentrate, and high iron with moderate titanium and vanadium for an iron-rich
concentrate,” Dr Wills said.
“We are now preparing a program of more sophisticated metallurgical tests to
determine how the extraction of these three valuable metals can be achieved cost
effectively.”
The Canegrass prospect, located 60 kilometres southwest of Mount Magnet, has
yielded extensive magnetite concentrations over an area of more than 20 kilometres
long and up to 3 kilometres wide.
“Our drilling at Canegrass is producing an ever richer picture, with the latest data
pointing to the likelihood of continuous zones with abundant magnetite between the
near-surface and 200 metres depth,” Dr Wills said.
issued through
FIELD PUBLIC RELATIONS PTY LTD ABN 74 008 222 311
231 South Road, MILE END SA 5031
Ph: 08 8234 9555 Fax: 08 8234 9566
[email protected]
Maximus is currently awaiting heritage clearances and work program approvals for
further broad spaced RC drilling on its five other blocks at Canegrass, which it hopes
to commence in late September or October."