Maximus Resources (ASX: $MXR) Quarterly Report Summary

Maximus Resources Limited (ASX: $MXR) has released its quarterly report for the period ending 31 March 2024. The report highlights the company's progress in gold and lithium exploration in Western Australia. Maximus continued its focus on building the Company's 335,000 oz of gold resources and completed a geological review and drill planning targeting shallow gold mineralization. Additionally, the company completed the initial exploration program under the US$3 million Lefroy Lithium Project joint venture with the Korea Mine Rehabilitation and Mineral Resources Corporation (KOMIR). Maximus remains well funded with a ~$1.46 million cash position at the end of the March quarter, with ongoing lithium exploration at the Lefroy Lithium Project fully funded by KOMIR.

Executive Commentary

The Company continued to prioritize the exploration and growth of its Spargoville and Wattle Dam gold deposits near Kambalda in Western Australia in the March 2024 Quarter, while progressing several advanced gold, nickel, and greenfield lithium targets. The highly prospective greenstone belt hosts numerous gold deposits and extensive gold anomalies. Maximus plans to conduct shallow resource extension reverse circulation (RC) drilling at various prospects including Redback, Golden Orb, Trapdoor, 8500N, and Eagles Nest. Additionally, deeper drilling will target the structural offset and potential repetition of the high-grade Wattle Dam lode. The upcoming regional exploration efforts will focus on identifying shallow, open pit gold resources and will involve RC drilling along the 7 km Lindsays Reward-Eagles Nest gold trend, along with reconnaissance geological and geochemical mapping at Ground Lark, Hidden Valley, and the Widgiemooltha prospects.

Summary of Quarterly Report

Maximus Resources (ASX: $MXR) made significant progress in its gold and lithium exploration efforts during the March 2024 Quarter. The company focused on building its gold resources and completed a geological review and drill planning targeting shallow gold mineralization. Additionally, Maximus completed the initial exploration program under the US$3 million Lefroy Lithium Project joint venture with KOMIR. The company remains well funded with a ~$1.46 million cash position at the end of the March quarter, with ongoing lithium exploration at the Lefroy Lithium Project fully funded by KOMIR. Looking ahead, Maximus plans to conduct shallow resource extension reverse circulation drilling at various prospects and continue its regional exploration efforts to identify shallow, open pit gold resources. The company's recent advancements in lithium exploration and the identification of high-priority lithium targets demonstrate its commitment to unlocking the value of its projects and delivering long-term benefits to its stakeholders.