Just had a read through the last quarterly again.
Just a couple of things.
1) The announcement will be a Jorc Inferred Resource.
2) It will be an audited initial estimate.
3) Three areas within ML 10328 - Jack's Patch - Boulder Run
- Golden Triangle
4) Water Source sufficient to support a mine 15k-20k ozs per year plus future Alluvial Mining.
June Quarter is when they continue the Bedrock Gold in the Testpits.
I for one doubt that it will be a large Initial Resource.
150k ozs and i will be stoked.
The point is, if you have a look at the very small area that we are talking about and its really only scraping the edges. Its a starter, but its only small in the grand scheme of things. They got some of the Big Nuggets in the Bedrock. That i believe is where they are really aiming for in the long term.
Remember, they are paying an extra $1.5mln for the entire area. The Sellheim could be many times bigger than the initial Jorc. Its a longterm play.
I doubt very much they will be aiming for more than 10-15k ozs poer year. At present they have a small dam.
Obviously, it is not going to be able to support a full blown Gold Mine production without further drilling for more water.
That is also why they have undertaken the water drilling.
Down the track they might be looking at 30k ozs per/yr.
However, unless they can support that type of mining, it won't happen straight away imho.
The type of nuggets that they have already tested from the test pits are fantastic.
The 13th November Report highlighted .3grms per loose cubic mtr average. Some Nuggets have reached 36grms per/LCM.
Therefore, this is going to be a very significant milestone for Maximus going forward.
Remember, its the long term stayers that count.
As well, Kevin Wills is speaking at the Paydirt Gold Conference on Wednesday at 2.45pm
Cheers markcoinoz