MAXIMUS RESOURCES LIMITED
Drilling continues at Canegrass Iron Ore Project
MXR - Quarterly Report June 2008 - Dr Kevin Wills, MD
Fri, 1 Aug 2008 10:45AM
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Dr Kevin Wills
Fri, 1 Aug 2008
10:45AM Australia/NSW
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MAXIMUS RESOURCES LIMITED (MXR)
ASX code: MXR
Website: http://www.maximusresources.com
Industry: Materials
Principal Activities:
Uranium, gold, nickel and other mineral exploration.
Address:
62 Beulah Road
NORWOOD
SA
Phone: (08) 8132 7960
Fax: (08) 8132 7999
Executives & Directors
Mr Robert Kennedy , Non Exec. Chairman
Mr Kevin Wills , Managing Director
Mr Gary Maddocks , Director
Mr Ewan Vickery , Non Exec. Director
Mr David Godfrey , CFO
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Announcements from the preceding six months are shown below.
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MAXIMUS RESOURCES LIMITED (MXR) Events
Australia/NSW
MAXIMUS RESOURCES LIMITED (MXR)
| Commencement of Sellheim Gold Nugget Sales | Fri, 21 Nov 2008 |
| Narndee, WA Exploration Update 20-11-08 | Thu, 20 Nov 2008 |
| MXR Audio Broadcast - CEO Profile 19-11-2008 | Wed, 19 Nov 2008 |
| Approvals to Step Forward in Proposed Gold Mining Operations | Wed, 19 Nov 2008 |
| Audio Broadcast 12-11-2008 | Wed, 12 Nov 2008 |
| Sellheim Gold - Rights Issue Update | Wed, 12 Nov 2008 |
| Appendix 3B | Wed, 12 Nov 2008 |
| Chief Financial Officer and Company Secretary Appointment | Tue, 11 Nov 2008 |
| Response to ASX Query - Appendix 5A - The JORC Code | Tue, 11 Nov 2008 |
| Amended Presentation | Tue, 11 Nov 2008 |
Please note: This company appears on this website as a result of its listing on the Australian Securities Exchange. Boardroom Radio does not claim any association with any company listed on this site.
INTERVIEW WITH KEVIN WILLS, MANAGING DIRECTOR OF MAXIMUS RESOURCES LIMITED (MXR)
“Drilling continues at Canegrass Iron Ore Project”
http://www.brr.com.au/event/48861
FRIDAY, AUGUST 1, 2008, 10:45 AM.
BRR This morning, Boardroom Radio welcomes back Dr. Kevin Wills, the Managing Director of Maximus Resources. Kevin, thanks for joining us.
10 MXR Good morning, Cameron.
BRR Kevin, you just released your quarterly report for the period ending 30th of June, another busy reporting period for you. What were the highlights for Maximus Resources?
15 MXR Well, Maximus certainly has had a really busy quarter and there are really three main projects we have been active on. That is our Canegrass Iron Ore Project, our Adelaide Hills gold project, and our Sellheim Gold Project in Queensland. So talking initially about the Canegrass Project, we did the Narndee Complex which is near Mt. Magnet in Western Australia. In the
20 quarter, we actually drilled over 40 holes for 7000 metres which means we have really got a lot of information now, and in our quarterly report, there are Figures 3 and 4, which show where all these drills holes are. A lot of our holes we have drilled have got interesting intersections for magnetite iron ore. The best intersection we have got assay so far is some 72 metres true width;
25 this is 34.2% iron, which is a tremendous intersection. But we still got to wait for some of the assays. Getting iron ore assays is unfortunately not always quick. So we are expecting a lot more results to come in. We have only got a few holes so far. We will get more results coming in over the next few weeks, so then we will be able to put out some news about an overview. But basically
30 we have shown a couple of drills sections in our quarterly report, particularly Figure 5 and Figure 6 where you can see a correlation between the zones and the dimensions of the magnetite iron ore that we are dealing with. In the same project area, the Windimurra-Narndee, we are also flying an airborne electromagnetic survey. That is actually a very interesting project, which is
35 likely to find some interesting mineralisation, possibly some nickel and copper-zinc so we have got some interesting targets coming out of that and we will be following those up over the next quarter too.
BRR Your Adelaide Hills project there?
40 MXR Yes. In the Adelaide Hills, we are getting close to announcing a new resource there. We have been drilling away and we will be doing that fairly soon when we get the independent consultant’s approval to release the JORC compatible resource, but it is certainly looking like we have got enough gold there now to develop the project so we are seriously looking at how we might
45 do that. We are currently in a pre-feasibility study and we are looking at a pumping test for the water and doing metallurgical studies and mining studies. So that is all moving on. Are you still there, Cameron?
BRR Yes, I am over here. I just put myself on mute. Sorry.
MXR All right. Okay. So I will carry on then.
BRR Yes, keep going. I just did not want you to get any feedback, that is all.
MXR All right. So we are still looking at the development of Bird in Hand as soon as
5 we can, but also we have recently got permission from the Mining Warden to start work at the Deloraine deposit, which is about 30 kilometres north of Bird in Hand, and that one had some quite interesting previous production. We believe we have got an exploration target there of up to 750,000 ounces, and if we put the two together, then we could be looking at quite a substantial
10 resource approaching a million ounces in the Adelaide Hills. So that is what we are trying to do there. Finally, at Sellheim in Queensland, that is our alluvial gold project which we are currently constructing the operation on. We should be turning the plant on to start pre-production activities very soon and we are pretty confident there that we can be in full-scale production in
15 October. So that is about it, Cameron.
BRR For the next three months, what are your one, two, and three priorities?
MXR Well, I think the most important project is Canegrass, which is the magnetite iron ore. What we have got to do there is a lot of metallurgical work because
20 we believe we can produce several different products. We can have some lump iron ore project, a possibly reduced screened magnetite or maghemite from the weathered zones and both an iron-rich magnetite and also a vanadium-rich magnetite. So we are looking to do some metallurgical work on all the samples we have collected and then when we have decided the best
25 way to go, we will be doing more drilling hopefully coming out with resources. I do not think the issue in the Canegrass project is size. I think we have got huge tonnages there. It is metallurgy. Basically, we have got to try and find the right product that is commercially of interest to the market. Then, in Adelaide Hills, we will continue drilling and try to move forward with our
30 mining studies and probably consultation. At Sellheim, we are looking forward to actually having our first gold production and an interesting line in gold nuggets are having to come out of the Sellheim project.
BRR Thanks, Kevin, for the update. Appreciate it. You have got a busy quarter and
35 we look forward to catching up with you over the next few weeks as some of the results come to hand.
MXR Thanks very much, Cameron. Bye for now.
BRR I should remind the listeners that they are welcome to ask questions through
40 the web cast facility. We will then send it to Dr. Kevin Wills who will answer it at a later stage. Thanks very much.
INTERVIEW CONCLUDED
Contact brr@brr.com.au for more information
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