MAXIMUS RESOURCES LIMITED
Resource Upgrade at Bird in Hand
MXR - Recent Studies Increase Likelihood Of Redevelopment Of Bird In Hand Gold Mine, SA - Dr Kevin Wills, MD
Mon, 11 Aug 2008 10:45AM
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Dr Kevin Wills
Mon, 11 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)
| MXR Audio Broadcast AGM | Fri, 28 Nov 2008 |
| Response to ASX letter re Appendix 5A | Thu, 27 Nov 2008 |
| Amended Presentation | Thu, 27 Nov 2008 |
| Results of Meeting | Tue, 25 Nov 2008 |
| MXR News Release 25-11-08 | Tue, 25 Nov 2008 |
| MXR AGM MD Presentation 25-11-08 | Tue, 25 Nov 2008 |
| Chairman`s Address to Shareholders | Tue, 25 Nov 2008 |
| 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 |
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)
“Resource Upgrade at Bird in Hand”
http://www.brr.com.au/event/49308
MONDAY, AUGUST 11 2008, 10:45 AM.
BRR Welcome to Boardroom Radio. Today, I’m joined by the managing director of Maximus Resources, Dr. Kevin Wills. Kevin, thanks for joining us today.
10 MXR Good morning.
BRR You know, at the end of last week, you released some result from work that you’re undergoing at your Bird in Hand project in the Adelaide Hills area. You’ve announced an increase in the resource and also some positive results
15 from the scoping study. Kevin, could you talk us through the details of this.
MXR Yes. Thanks. The new resource is about sort of an annual review we’ve been doing since we started and this one’s about 46% up on the previous one. We’ve now got contained gold content in the resource of 237,000 ounces, which is about 95% of what we said we wanted to develop the mine. So we’re
20 pretty heavy with that. Also, we’ve got indicated and inferred resources this time, which means the resources we’ve got are of a higher quality of certainty. The recent scoping study gave us positive results and we’re now in a pre-feasibility study, which means gradually getting closer to development which is what the announcement was all about. At the moment, we’re
25 undertaking more drilling and more detail on the water studies.
BRR Just on the topic of water there, Kevin, you’ve mentioned it is a sensitive topic and you’ve also indicated in your release that you have community support to start looking into a water neutral mining operation. How sensitive is this issue
30 and how confident are you that you’re able to overcome it?
MXR We’ve been having community consultation meetings at every quarter nearly for two years now and in our discussions with the local community, the subject of water has been the main issue of concern. We originally came up with a plan to reticulate water to anyone who needed it but local community
35 didn’t seem to like that and we’ve now come out with an alternative plan which is called managed (inaudible) (00:02:01) for recharge and that involves some pumping water into the ground and then ring around the mining operation so that very few people would actually have their (inaudible) (00:02:11) affected and we call that water neutral because some…. all the
40 water we’re taking out were basically pumping back in again. That seemed to get a much better reception at the last meeting but there’s a way to go yet. We’ve still got to do a pump test that is part of the pre-feasibility study which is some actually testing pumping water out and pumping it back in at the same time making sure that everything worked in getting a much more and
45 reliable feeling of what would happen in the long run. But basically together with the mining studies we’ve been doing the chances of development of the whole operation look a lot better at the moment.
BRR And just touching on the final highlight from this announcement, you’ve indicated you’ve received approval to do some drilling at your Deloraine prospect. Obviously a pleasing result here?
MXR Yes. We’ve been having to discuss this matter through the warden’s court
5 because the local people wanted more compensation than we originally planned to pay but we’ve now reached agreement on that and we’re going to be in there drilling a number of holes over the next few months. Deloraine is actually the biggest gold mine in the Adelaide Hills, produced about three tonnes as much as the Bird in Hand did and our exploration target at
10 Deloraine is between 1.8 to 1.1 million tonnes, grading 15 to 20 grams. What that means, basically, is that we would be exploring for a gold content in the order of about 1 million ounces in the Adelaide Hills in total. Of course if we can find that then that makes the whole project much more significant and gives Maximus the opportunity of looking at 100,000 ounces a year over 10
15 years which would be very good.
BRR Just finally, Kevin, looking at these prospects at Bird in Hand and Deloraine in the near term, what are the new scores and milestones that investors should be looking out for from Maximus?
20 MXR Well, Deloraine…. the significant issue is drilling the first few holes and seeing if we get economic intersections, if we get good whips and grades of gold mineralisation at Deloraine, that would be highly significant. Bird in Hand is more of an ongoing gradual process before we make a development. We’ve got more drill holes, we’ve got the water pump test to do, the results
25 from that, and then later in the pre-feasibility study we’ll start more mining plans and also metallurgical work to see how the ore would be treated. But I think the most interesting thing in the next few months is going to be how we go with our first few drill holes at Deloraine.
30 BRR All right, Kevin. Well, thanks very much for taking the time to give us an update on Boardroom Radio and we look forward to following the progress at Bird in Hand and Deloraine prospect in the near future.
MXR (inaudible) (00:05:06) Thanks very much.
35 BRR And remember, if you have any questions about this broadcast or any other broadcasts on Boardroom Radio, send through your e-mails to brr@brr.com.au.
INTERVIEW CONCLUDED
Contact brr@brr.com.au for more information
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