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MXR - Maximus Resources

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Here it is boys of the ann's I was waiting for,
The survey and testing results at Canegrass,

"SIGNIFICANT IRON ORE TARGETS"

Welll it appears that very soon MXR will release a target estimate for the area like MDX, be interesting to see if that finally grabs the mkts attention

NEW GEOPHYSICAL SURVEYS REVEAL SIGNIFICANT GRAVITY
IRON ORE TARGETS AT CANEGRASS, WINDIMURRA WA
HIGHLIGHTS
• Detailed gravity and high resolution aeromagnetic geophysical surveys over Canegrass iron ore ””
vanadium prospect reveals significant new gravity anomaly drill targets.
• Gravity and magnetic modelling of large new targets is nearly complete• Exploratory drilling of magnetite rich zones expected to commence in May
 
YOUNG_TRADER said:
Here it is boys of the ann's I was waiting for,
The survey and testing results at Canegrass,

"SIGNIFICANT IRON ORE TARGETS"

Welll it appears that very soon MXR will release a target estimate for the area like MDX, be interesting to see if that finally grabs the mkts attention

NEW GEOPHYSICAL SURVEYS REVEAL SIGNIFICANT GRAVITY
IRON ORE TARGETS AT CANEGRASS, WINDIMURRA WA
HIGHLIGHTS
• Detailed gravity and high resolution aeromagnetic geophysical surveys over Canegrass iron ore ””
vanadium prospect reveals significant new gravity anomaly drill targets.
• Gravity and magnetic modelling of large new targets is nearly complete• Exploratory drilling of magnetite rich zones expected to commence in May
Click to expand...



YT, will they come out with a target when drilling is finished. What other announcements are also due out
 
Gekko well MDX kicked a couple of rocks, took some smaples completed a magnetic survey and then came out with a very large target, plausible or not the SP ran from 10c to 40c in a matter of weeks and drew the attention of Red Rock and some Chinese dude,

So I guess what I'm trying to say is no they don't have to wait until after drilling to release a target estimate becuse thats exactly what it is a target estimate, nearly all companies come up with target sizes before they drill, it gives them an idea of what they are working towards,

Once drilling is completed and assays are recieved that is when JORC's ie resources are established,


So bottom line I think that very shortly MXR will most likely ann to the mkt a target size at Narndee and depending on the size it may follow in MDX's footsteps who knows

Geophysical Modelling
Geophysical modelling of the new data is a complex technical
task and has been underway for three weeks. This work is
nearing completion and will be released as soon as Maximus
is confident with the geophysical and geological models
determined. The work has involved measuring the physical
properties of the rocks available from recent RC drill chips
and from diamond core drilled by WMC in the 1970s and
subsequently stored in the core library of the WA Department
of Industry and Resources.
 
Its interesting watching this stock, people want to keep a lid on it.

There is so much downward pressure. The buy side strenght easily outweighs the sell side, but people just arent interested in budging above 15c.

Must be alot of negative energy still floating around from the less than inspiring Gold JORC :/

For the record I hold.

Rhys
 
On the Detailed Gravity Survey image to the left of target area 1, it looks like another "hot" target which looks around the same size as target 1 which is our best target.

Its interesting seeing as this area was just on the edge of the survey area and it looks like the targeted mineralisation continues on there.
 
'Gravity and magnetic modelling of large new targets is nearly complete'

'Geophysical modelling of the new data is a complex technical
task and has been underway for three weeks. This work is
nearing completion and will be released as soon as Maximus
is confident with the geophysical and geological models
determined'.

The above two statements were take from the announcement just released. It is my understanding that the target will be released shortly, when the modelling is complete & before the drilling commences in May.

Glad I held onto these despite the dissapointing Sellheim news recently.:)
 
Guys something to remember is that Kenin Wills is a bit of a ramper, ie he is the same man who out of nowhere came out and gave FDL is huge Iron Ore target based on geophysical and magnetic surveys,

So I reckon there is every chance he will come out with some ridiculous target at Canegrass, plausible or not just like FDL and MDX such an ann will most likely cause a re-rating so thats what I'll be waiting for

He's done it once before and I reckon there's every chance Big Kev will do it again
 
looks like shepards drilling had no luck. bit of a bugger. Canegrass looks good though.

agree with your obs stock nub re red hot next to target 1. should have made the survey bigger:)
 

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skegsi said:
looks like shepards drilling had no luck. bit of a bugger. Canegrass looks good though.

agree with your obs stock nub re red hot next to target 1. should have made the survey bigger:)
Click to expand...

Hey Skegsi just saw that, yeah that is dissapointing one less ann I was expecting on my list

YOUNG_TRADER said:
Buts thats not all, here's the list of ann's I'm expecting

1. BIH 43 12m hit, I reckon it'll be 12g/t Au - 15g/t Au
2. BIH 44 this is another important hole, if it hits 15m's at 12g/t Au it will confirm the 250k oz potential (per MD's guidance on Board Room Radio interview)
3. At Cromer, a prospect near BIH, we are waiting on 6 RC Drill Holes,
4. At the Narndee Ferro Vanadium prospect Canegrass we are expecting survey results which will firm up target size potential etc etc
6. Also at the Narndee Ferro Vanadium area SHEPARDS we are waiting on drill results
7. ERO (MXR holds heaps) has completed some very deep IOCG holes looking for Olympic Dam style structures, a find here (though unlikely) would seriously boost ERO's SP and thus MXR's NTA
8. Kapunda a historical copper deposit thats JV'd with CRJ is having an intial JORC estimate done


As you can see lots of news flow expected over the month of April, I am particularly intreseted in the survey being done at Canegrass, it was this kind of magnetic survey that allowed MDX to come out with its target which cause the subsequent SP rally from 10c to 40c

Also I can't wait for drill results at the other FerroVanadium project Shepards, I'm sure WVL will be watching too ;)
Click to expand...

So next I'd be expecting the results of BIH 43,

Also with NTA at 13c, all of MXR's other projects including Canegrass are attracting a 1c-2c value :rolleyes:
 
rhyslivs said:
Its interesting watching this stock, people want to keep a lid on it.

There is so much downward pressure. The buy side strenght easily outweighs the sell side, but people just arent interested in budging above 15c.

Must be alot of negative energy still floating around from the less than inspiring Gold JORC :/

For the record I hold.

Rhys
Click to expand...

All I can guess is there a people doing what I wished I had done today, sell 'em in the morning when they hit 16c and buy back in the arvo at 14/14.5 cents.:)
 
it is planned to drill at least one diamond hole of 500-600 metres to properly test this target
Click to expand...

Surely this cant mean to 500-600m depth. Excuse the ignorance but what do they mean by this? Do they drill across at a really shallow angle or something:eek:
 
Hey Skegsi,

I've been trying to work it out and the only thing I can think of is that they drill the hole on such an angle that it only goes to a true depth of say 150m's or 200m's MAX

But I agree that will still be some pretty extreme angel ie almost horizontal


I am amzed that MXR is back at 13.5c, with such a plethora of news still to come and so many projects its almost like the stock is cursed :confused:

I guess Shepards was a bummer and may have caused some holders to sell :(
 
must have been told to remove this paragraph:

"Maximus said its wholly-owned Canegrass Prospect – part of the extensive
Windimurra layered magnetite gabbro complex – had high potential for coarsegrained magnetite, with early non-JORC compliant interpretations suggesting the potential for 100-120 million tonnes of the resource"
 
yeh YT. It would almost be a trench not a hole!

Canegrass is such a small part of that windimurra tenement. I think the JORC (when it comes, did they say ?Oct in a previous ann) will only be an INITIAL target, there has to be more goodies in that much land.

I think the BIH results will maybe give the sp a little push, but i think once Sellheim starts and people see the easy cash coming in the sp just can't sit near it's NTA. That cash goes straight into Canegrass and surrounding area, and whamo the big JORC comes out! That's how it came to me in a dream anyway:D

ps I think BIH is great but may be a long way off if the local community don't want MXR sucking all the water out of their vineyards
 
Ahhh thanks Skegsi,

I missed that, while 100Mt's-120Mts may not seem big for a Magnetite play I'm pretty sure its FerroVanadium there talking about, ie Mag with Vanadium, that being the case one only need look at WVL's current Resource which from memory is 120Mts-150Mt's FerroVanadium

I might give the company a call, ask them if they think their cursed given the SP performance :banghead:
 
Sunday Mail 27th April 2007 - Renato Castello.

"The Adelaide Hills may contain a treasure trove of nearly $100 million a year in gold, a mining company scouting the area believes.
And full-scale drilling to extract the fortune could begin by 2011.

The bedrock gold bonanza has been predicted after early investigations by Adelaide based mining Maximus Resources in the historic goldfields near Woodside,Echunga and Birdwood.
The company will address this week's 2008 Paydirt South Australian Resources and Energy Conference in Adelaide about its Hills investigations.

Drilling at the former Bird in the Hand mine near Woodside has uncovered the potential for up to 250,000 ounces of the precious commodity.
On the current trading price - $949 an ounce - that deposit alone would be worth a cool $237 million.
And further investigations are continuing across a 3000sq km area stretching from Meadows in the south to Truro in the north.

Maximus Resources managing director Dr.Kevin Wills said the company was concentrating on the Bird in the Hand site, which produced only 10,500 ounces before it was closed in 1889 due to competition from Broken Hill.
Dr. Wills said preliminary drilling to 400m below the surface had revealed a potential yield of 50,000 ounces a year over a five-year life.
Depending on what is found at other locations, the once dormant mines could produce a total of up to 100,000 ounces a tear he said.

On the current trading price, that would reap about $95 million annualy.
Dr.Wills said the mines were never the world's "biggest" but he was confident of a good return.

Mineral expenditure has more than quadrupled in South Australia over the past four years, with exploration spending topping $330 million in 2007.";)
 
Did any one your mining gurus ever look at and analyse WWI (West Wits Mining)?
WWI is a gold and uranimum mining spin-off from a large South African mining group. It is exploring on an existing gold mine which was mined years ago.

Merrill Lynch is one of the major holders of the stock. the stock is mostly held by institutional investors.


Awaits to hear your thoughts on this.

Thanks, L
 

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