Mandalay Resources Corporation ("Mandalay" or the "Company") (TSX:
MND, OTCQB: MNDJF) is pleased to provide an update on drilling
progress at its Costerfield operation in Victoria, Australia.
New Drilling Highlights:
- Shepherd infill
drilling supports and extends high-grade veining to the north and
extends and upgrades southern portion.
- 234.7
g/t gold over 4.17 m (Estimated True Width “ETW” 1.49 m)
in BC262;
- 377.4
g/t gold over 0.54 m (ETW 0.40 m) in BC371;
- Mineralization
located 300 m to the south along trend of Shepherd and a further
150 m at depth including:
- 332.0
g/t gold over 0.33 m (ETW 0.26 m) in BC274W1;
- Potential third
veining horizon at Shepherd located in three drill holes
approximately 40 m further west of the known Shepherd veining
including;
- 17.6 g/t
gold & 18.6% antimony over 0.17 m (ETW 0.17 m) in
BC299;
- Additional
veining located to the east of Youle with high potential for
extension including:
- 22.2 g/t
gold & 16.0% antimony over 0.24 m (ETW 0.12 m) in
BC295;
- Drilling above
Youle intercepts an undiscovered and unmined panel of veining
including:
- 27.8 g/t
gold & 31.5% antimony over 0.67 m (ETW 0.36 m) in
BC328.
Note: Further intercept details including
significant intercepts within composite intervals can be found in
the appendices to this document.
Dominic Duffy, President and CEO of Mandalay,
commented:
“During the course of 2022, Mandalay has been
focused on confirming grade continuity through Shepherd and
extending the veining horizon both at depth and to the south. The
ongoing drilling at Costerfield is achieving these goals, however,
the programs are not yet complete and will progress into 2023
before the potential of the Shepherd trend is better understood.
Excitingly, drilling has intercepted a potential third veining
horizon within the Shepherd domain. This new discovery is slightly
deeper and further to the west of the domain and could represent
the continuation of a stepped progression of gold concentration
across structures.
“The results of the infill program have largely
supported the findings discussed in our previous Shepherd update
(see October 5 2021, press release) with the northern and southern
higher-grade domains within Shepherd confirmed and, in the case of
the Suffolk vein, improved results in both the northern and
southern extents . Furthermore, the transition from Youle to
Shepherd has now been mined on 13 levels with in-mine sampling
showing strong correlation to drilling.
“Mandalay has also been focused on investigating
the surrounds of the upper Youle and Kendal area. Two areas have
emerged with the potential to be near mine sources of ore and are a
focus of continued exploration.
“Currently, drill platforms underground are not
optimally placed for the emerging veining system at depth at
Costerfield. Mandalay is currently designing a purpose-built drill
drive that will extend from the Shepherd underground
infrastructure. This location will allow for shorter drill holes
and will access the veining at a more favourable angle. In the
meantime, Mandalay is taking the opportunity to progress on other
near mine and regional targets with a view to discovering and
developing new deposits within the Costerfield region.”
A video has been prepared by Mr. Chris Davis,
Vice President of Operational Geology and Exploration, to further
explain the information in this release. The video can be found on
Mandalay’s website or by clicking here.
The Shepherd Zone Infill Drilling
The Shepherd veining system contains a series of
gold bearing quartz veins that, in some locations, also contains
stibnite. The gold within the veining is characterized as being of
coarse grain size. This characteristic lends itself to greater
variability in gold grades across intercepts compared to those seen
in the Youle orebody. As such, Mandalay has invested in further
drilling to increase the confidence of high-grade domains as well
as sparsely drilled extensions. Since the last update in October
2021 a further 57 holes have been drilled into the inferred veining
of Shepherd, improving grade confidence through these areas.
Excitingly, the northern high-grade zone of
Suffolk has been confirmed by three additional intercepts of the
same vein with a highlight of 377g/t gold over 0.54m (ETW 0.40m) in
BC317 (Figure 1) and 347g/t gold over 0.27m (ETW 0.20m) in BC316
(Figure 2).
Figure 1. BC317 Core tray showing gold baring
quartz veining representative of the northern portion of the
Suffolk vein.
Figure 2. Longitudinal sections of Shepherd and
Suffolk veining with new results labelled with hole ID. Results of
grade above 7.5 g/t AuEq when diluted to 1.8m are also annotated
with estimated true width and grade.
Additionally, the southern portion of the
Suffolk vein has recently been upgraded and extended with ongoing
drilling highlighting an emerging high-grade domain with 204 g/t
gold and 15.9% antimony over 0.11m (ETW 0.08 m) in BC335 (Figure 3)
and 361 g/t gold and 8.1% antimony over 0.52 m (ETW 0.19 m) in
BC336.
Figure 3. BC335 Core tray showing
quartz-stibnite veining representative of the southern portion of
the Suffolk vein.
Extension Drilling
During 2022, Mandalay has also embarked on an
extension drilling program of the Shepherd veining. Navigational
drilling and long, sweeping drillholes from surface have been
required in order to access some of the areas due to a lack of
appropriate drilling platforms underground, leading to the
extension program progressing slowly. To this end, Mandalay is
designing an appropriate, purpose-built underground drill platform
to further access the areas required.
Initial drill results, however, are encouraging
and show the system is mineralized for a further 150 m below
previous drilling and a further 300 m to the south. Two intercepts
approximately 50 - 100 m below previous known mineralization and
170 m from each other show good potential for an extension
immediately below the higher-grade southern portion of Shepherd
veining. These intercepts are 332g/t gold over 0.33 m (ETW 0.30 m)
in BC274W1 and 46.7 g/t gold over 0.27 m (ETW 0.15 m) in BC342W1
(Figure 4).
Figure 4. Longitudinal and inclined plan section
of Shepherd system showing the outlines of known shepherd veining
and results from the extension drilling programs. The location of
the Youle East program is also shown. Results of grade above 1.5g/t
AuEq when diluted to 1.8 m are also annotated with estimated true
width and grade.
Figure 5. Tray photograph and photomicrographs
of the Shepherd depth extension intercept in BC274W1 showing gold
within the veining. Note the appreciable amount of gold visible
below the surface of the quartz at bottom left.
The southern portion of Shepherd is yet to be
sufficiently understood, however, an intercept furthest south along
the Shepherd trend (BC315) could be an indication of grade building
again along strike. Repetition of grade shoots at Costerfield is
common within the Augusta and Cuffley deposits which exist along
trend of Shepherd approximately 1.5 km to the south.
Excitingly, this drilling campaign has also
highlighted another veining horizon to the west which has now been
intercepted in three drill holes. When projected north this veining
could parallel the Shepherd veins and be a host for a westward
grade step across the Shepherd system. This potential is the focus
of near future exploration.
At depth the Shepherd system appears to progress
through a series of westward offsets over flat lying laminated
quartz veins. The system at depth remains underexplored and with
the encouraging results of BC274 and BC342W1 the area remains a
high priority for near future exploration by Mandalay.
Figure 6. Cross-section of the Shepherd and
Youle system showing the location of veining highlighting the
stepped nature of Shepherd at depth.
Youle East
Above the southern extension to Shepherd and
again within the footwall of Youle, further veining has been
located within the Youle East drill program. The results are not as
high grade as the main portions of Youle and Shepherd. However,
like the Shepherd South program, it has shown grade further to the
south of current workings. This new veining horizon is
approximately 100 m from the Youle access infrastructure and has
only been tested locally however it is likely that this
mineralization persists to the north alongside Youle. The location
of the intercepts can be seen on figure 4 and 6 with the
southern-most intercept (BC298) grading 9.98 g/t gold over 0.29 m
(ETW 0.12 m). A highlight within this area is 131 g/t gold and 45%
antimony over a true width of 7 cm in MB011.
Kendal
Like the Shepherd veining, the Kendal system is
made up of subvertical stibnite-quartz-gold veins. However, instead
of residing below Youle the Kendal veining diverges from the top of
Youle. This style of veining was prominent within the historic
Costerfield mine operated between the 1860s and 1930s. Recent
drilling to the south and west of the historic mine has resulted in
the upward extension of Kendal veining that was also mined in the
initial development of Youle in 2018.
Initial results for this area are encouraging
with 40.6 g/t gold and 40.4% antimony over 0.40 m (ETW 0.26 m) in
BC308 and 27.8 g/t gold as well as 31.5% antimony over 0.67 m (ETW
0.36 m) in BC328. Geological interpretation of the area so far
indicates that the veining exists between two flat lying
structures, with the Youle orebody at its base and the number 3
fault at its upper limit. The panel grows in height towards the
South and is closed off where the number 3 converges with Youle to
the north (Figure 7). The southern extent of the panel is not
understood and will be the focus of a coming drill program.
Figure 7. Longitudinal section, with cross
section on right hand side, of the newly extended Kendal veining.
Results of grade above 1.5g/t AuEq when diluted to 1.8m are also
annotated with estimated true width and grade.
Drilling and Assaying
All diamond drill core was logged and sampled by
Costerfield geologists. All samples were sent to On Site Laboratory
Services (OSLS) in Bendigo, Victoria, Australia, for sample
preparation and analysis by fire assay for gold, and Atomic
Absorption Spectroscopy (AAS) for antimony. Samples featuring
coarse grained visible gold were assayed using a variant of fire
assay known as screen fire assay. This method is routinely used to
mitigate potential problems associated with heterogeneity in the
distribution of coarse gold within drill samples. The procedure
collects all coarse heterogenous coarse gold by screening at 75µm
after crushing and pulverisation, and subsequently fire assays the
resultant mass to extinction. A mass weighted average of gold grade
of the sample is subsequently calculated from the +75µm and -75µm
fractions of the sample. Site geological and metallurgical
personnel have implemented a QA/QC procedure that includes
systematic submission of standard reference materials and blanks
within batches of drill and face samples submitted for assay.
Costerfield specific reference materials produced from Costerfield
ore have been prepared and certified by Geostats Pty Ltd., a
specialist laboratory quality control consultancy. See Technical
Report entitled “Costerfield Operation, Victoria, Australia NI
43-101 Report” dated March 30, 2020, available on SEDAR
(www.sedar.com) for a complete description of drilling, sampling,
and assaying procedures.
Qualified Person:
Chris Davis, Vice President of Operational
Geology and Exploration at Mandalay Resources, is a Chartered
Professional of the Australasian Institute of Mining and Metallurgy
(MAusIMM CP(Geo)), as well as a Member of the Australian Institute
of Geoscientists (MAIG) and a Qualified Person as defined by NI
43-101. He has reviewed and approved the technical and scientific
information provided in this release.
For Further Information
Dominic DuffyPresident and Chief Executive Officer
Edison NguyenDirector, Business Valuations and IR
Contact:647.260.1566 ext. 1
About Mandalay Resources Corporation
Mandalay Resources is a Canadian-based natural
resource company with producing assets in Australia (Costerfield
gold-antimony mine) and Sweden (Björkdal gold mine). The Company is
focused on growing its production and reducing costs to generate
significant positive cashflow. Mandalay is committed to operating
safely and in an environmentally responsible manner, while
developing a high level of community and employee engagement.
Mandalay’s mission is to create shareholder
value through the profitable operation and continuing the regional
exploration program, at both its Costerfield and Björkdal mines.
Currently, the Company’s main objectives are to continue mining the
high-grade Youle vein at Costerfield, bring online the deeper
Shepherd veins, both of which will continue to supply high-grade
ore to the processing plant, and to extend Youle Mineral Reserves.
At Björkdal, the Company will aim to increase production from the
Aurora zone and other higher-grade areas in the coming years, in
order to maximize profit margins from the mine.
Forward-Looking Statements:
This news release contains "forward-looking
statements" within the meaning of applicable securities laws,
including statements regarding the exploration and development
potential of the Shepherd deposit (Costerfield). Readers are
cautioned not to place undue reliance on forward-looking
statements. Actual results and developments may differ materially
from those contemplated by these statements depending on, among
other things, changes in commodity prices and general market and
economic conditions. The factors identified above are not intended
to represent a complete list of the factors that could affect
Mandalay. A description of additional risks that could result in
actual results and developments differing from those contemplated
by forward-looking statements in this news release can be found
under the heading “Risk Factors” in Mandalay’s annual information
form dated March 31, 2022, a copy of which is available under
Mandalay’s profile at www.sedar.com. In addition, there can be no
assurance that any inferred resources that are discovered as a
result of additional drilling will ever be upgraded to proven or
probable reserves. Although Mandalay has attempted to identify
important factors that could cause actual actions, events or
results to differ materially from those described in
forward-looking statements, there may be other factors that cause
actions, events or results not to be as anticipated, estimated or
intended. There can be no assurance that forward-looking statements
will prove to be accurate, as actual results and future events
could differ materially from those anticipated in such statements.
Accordingly, readers should not place undue reliance on
forward-looking statements.
Appendix
Table 1. Drilling Composites
|
DRILL HOLE ID |
FROM (M) |
TO (M) |
DRILL WIDTH (M) |
TRUE WIDTH (M) |
AU GRADE (G/T) |
SB GRADE (%) |
AU (G/T) OVER MIN. 1.8M MINING WIDTH |
VEIN NAME |
| BC243 |
175.10 |
175.30 |
0.20 |
0.13 |
82.5 |
LLD |
5.9 |
Coopworth |
| BC245 |
345.89 |
346.75 |
0.86 |
0.51 |
16.1 |
LLD |
4.6 |
Coopworth |
| BC246 |
319.59 |
319.79 |
0.20 |
0.10 |
99.3 |
LLD |
5.7 |
Coopworth |
| BC249 |
135.41 |
135.52 |
0.11 |
0.11 |
0.1 |
LLD |
0.0 |
Coopworth |
| BC262 |
73.64 |
73.85 |
0.21 |
0.16 |
168.0 |
LLD |
15.2 |
Coopworth |
| BC263 |
65.00 |
65.72 |
0.72 |
0.46 |
164.0 |
0.2 |
42.3 |
Coopworth |
| BC271 |
68.05 |
70.38 |
1.45 |
0.75 |
24.2 |
7.1 |
16.9 |
Coopworth |
| BC267 |
140.85 |
141.00 |
0.15 |
0.14 |
0.1 |
LLD |
0.0 |
Dorper |
| BC268 |
184.70 |
184.89 |
0.19 |
0.12 |
0.1 |
LLD |
0.0 |
Dorper |
| BC269 |
189.73 |
190.03 |
0.30 |
0.23 |
13.6 |
LLD |
1.7 |
Dorper |
| BC316 |
199.10 |
199.30 |
0.20 |
0.12 |
113.0 |
0.2 |
7.6 |
Dorper |
| BC317W1 |
189.35 |
189.57 |
0.22 |
0.19 |
9.2 |
LLD |
1.0 |
Dorper |
| BC261 |
156.66 |
156.76 |
0.10 |
0.06 |
0.1 |
LLD |
0.0 |
Hampshire |
| AG023 |
68.05 |
69.67 |
1.62 |
0.85 |
21.0 |
31.8 |
44.3 |
Kendal |
| BC001 |
279.55 |
279.62 |
0.07 |
0.06 |
3.1 |
LLD |
0.1 |
Kendal |
| BC125 |
42.11 |
42.55 |
0.44 |
0.33 |
1.6 |
10.9 |
4.9 |
Kendal |
| BC126 |
38.92 |
39.14 |
0.22 |
0.19 |
1.1 |
8.2 |
2.1 |
Kendal |
| BC307 |
68.61 |
68.99 |
0.38 |
0.22 |
39.0 |
14.3 |
9.0 |
Kendal |
| BC308 |
51.96 |
52.36 |
0.40 |
0.26 |
40.6 |
40.4 |
19.2 |
Kendal |
| BC311 |
48.09 |
51.45 |
3.36 |
2.38 |
6.0 |
5.0 |
17.4 |
Kendal |
| BC325 |
62.61 |
62.73 |
0.12 |
0.07 |
52.3 |
13.2 |
3.3 |
Kendal |
| BC326 |
66.16 |
66.28 |
0.12 |
0.07 |
9.0 |
6.8 |
0.9 |
Kendal |
| BC328 |
78.34 |
79.01 |
0.67 |
0.36 |
27.8 |
31.5 |
20.3 |
Kendal |
| KD529 |
71.6 |
71.81 |
0.21 |
0.19 |
50.0 |
48.3 |
16.9 |
Kendal |
| KD530 |
74.5 |
74.65 |
0.15 |
0.14 |
2.7 |
6.3 |
1.4 |
Kendal |
| KD553 |
35 |
35.1 |
0.1 |
0.08 |
23.7 |
3.1 |
1.4 |
Kendal |
| KD557 |
51.25 |
52.3 |
1.05 |
0.72 |
0.1 |
2.0 |
1.9 |
Kendal |
| KD574 |
51.36 |
51.485 |
0.125 |
0.09 |
47.2 |
25.2 |
5.3 |
Kendal |
| KD576 |
68.72 |
68.88 |
0.16 |
0.08 |
20.1 |
10.4 |
1.9 |
Kendal |
| KD580 |
18 |
18.27 |
0.27 |
0.18 |
65.5 |
21.3 |
11.8 |
Kendal |
| KD588 |
16.27 |
16.6 |
0.33 |
0.27 |
20.9 |
9.3 |
6.4 |
Kendal |
| KD688 |
29.87 |
30.01 |
0.14 |
0.11 |
50.7 |
0.2 |
3.1 |
Kendal |
| MA005 |
206.47 |
206.73 |
0.26 |
0.19 |
9.1 |
6.9 |
2.6 |
Kendal |
| BC243 |
157.85 |
158.21 |
0.36 |
0.22 |
26.2 |
LLD |
3.2 |
Merino |
| BC244 |
196.20 |
196.33 |
0.13 |
0.11 |
0.9 |
LLD |
0.1 |
Merino |
| BC245 |
333.45 |
336.74 |
3.29 |
1.34 |
11.2 |
LLD |
8.4 |
Merino |
| BC246 |
307.94 |
308.21 |
0.27 |
0.00 |
7.4 |
1.0 |
0.0 |
Merino |
| BC270 |
96.25 |
96.40 |
0.15 |
0.12 |
0.8 |
LLD |
0.1 |
Merino |
| BC272 |
142.24 |
143.46 |
1.22 |
0.85 |
0.8 |
LLD |
0.4 |
Merino |
| BC273 |
140.07 |
141.10 |
1.03 |
0.72 |
120.2 |
LLD |
47.8 |
Merino |
| BC299 |
912.39 |
912.56 |
0.17 |
0.17 |
17.6 |
18.6 |
5.7 |
Perendale |
| BC300 |
351.46 |
351.69 |
0.23 |
0.13 |
0.1 |
LLD |
0.0 |
Perendale |
| BC344 |
375.86 |
376.67 |
0.81 |
0.58 |
0.4 |
2.3 |
1.8 |
Perendale |
| BC320 |
26.78 |
27.45 |
0.67 |
0.38 |
0.4 |
LLD |
0.1 |
Shepherd |
| BC321 |
279.43 |
279.75 |
0.32 |
0.29 |
0.4 |
LLD |
0.1 |
Shepherd |
| BC323 |
64.17 |
64.29 |
0.12 |
0.07 |
1.7 |
LLD |
0.1 |
Shepherd |
| BC323 |
76.54 |
76.65 |
0.11 |
0.07 |
50.7 |
16.5 |
3.4 |
Shepherd |
| BC324 |
50.74 |
52.70 |
1.96 |
1.85 |
LLD |
LLD |
0.0 |
Shepherd |
| BC324 |
116.08 |
118.10 |
2.02 |
1.07 |
39.2 |
LLD |
23.4 |
Shepherd |
| BC327 |
147.68 |
149.34 |
1.66 |
1.00 |
0.9 |
LLD |
0.5 |
Shepherd |
| BC329 |
27.78 |
30.47 |
1.38 |
0.73 |
2.1 |
LLD |
0.9 |
Shepherd |
| BC330 |
17.06 |
18.55 |
1.49 |
1.26 |
1.5 |
LLD |
1.0 |
Shepherd |
| BC331 |
20.23 |
20.43 |
0.20 |
0.10 |
0.5 |
LLD |
0.0 |
Shepherd |
| BC332 |
23.90 |
24.30 |
0.40 |
0.30 |
0.1 |
LLD |
0.0 |
Shepherd |
| BC333 |
27.76 |
28.47 |
0.71 |
0.41 |
2.3 |
LLD |
0.5 |
Shepherd |
| BC242 |
98.76 |
99.05 |
0.29 |
0.17 |
24.3 |
LLD |
2.3 |
Shepherd |
| BC243 |
165.38 |
167.54 |
2.16 |
0.98 |
18.4 |
0.8 |
11.0 |
Shepherd |
| BC244 |
212.76 |
212.91 |
0.15 |
0.06 |
1.2 |
LLD |
0.0 |
Shepherd |
| BC245 |
338.78 |
340.31 |
400.20 |
0.62 |
107.8 |
14.8 |
48.9 |
Shepherd |
| BC246 |
314.89 |
319.79 |
4.90 |
1.19 |
37.9 |
7.9 |
37.0 |
Shepherd |
| BC247 |
174.29 |
174.89 |
0.60 |
0.32 |
359.4 |
0.4 |
64.1 |
Shepherd |
| BC249 |
126.94 |
127.30 |
0.36 |
0.19 |
119.0 |
LLD |
12.6 |
Shepherd |
| BC250 |
159.86 |
160.47 |
0.61 |
0.43 |
6.1 |
LLD |
1.5 |
Shepherd |
| BC250W1 |
158.88 |
159.65 |
0.77 |
0.48 |
22.2 |
LLD |
5.9 |
Shepherd |
| BC258 |
45.80 |
46.75 |
0.95 |
0.52 |
24.0 |
LLD |
6.9 |
Shepherd |
| BC260 |
107.53 |
107.71 |
0.18 |
0.14 |
2.4 |
LLD |
0.2 |
Shepherd |
| BC260W1 |
106.47 |
107.00 |
0.53 |
0.33 |
1.2 |
LLD |
0.2 |
Shepherd |
| BC261 |
126.01 |
126.54 |
0.53 |
0.41 |
4.5 |
LLD |
1.0 |
Shepherd |
| BC262 |
60.76 |
64.93 |
4.17 |
1.49 |
234.7 |
LLD |
194.4 |
Shepherd |
| BC263 |
55.39 |
56.14 |
0.75 |
0.26 |
70.6 |
LLD |
10.2 |
Shepherd |
| BC266 |
237.58 |
237.98 |
0.40 |
0.33 |
0.5 |
LLD |
0.1 |
Shepherd |
| BC270 |
109.11 |
110.43 |
1.32 |
0.70 |
63.0 |
11.4 |
34.7 |
Shepherd |
| BC271 |
62.45 |
63.20 |
0.75 |
0.34 |
18.1 |
36.5 |
19.3 |
Shepherd |
| BC273W1 |
148.25 |
149.15 |
0.90 |
0.25 |
0.5 |
LLD |
0.1 |
Shepherd |
| BC274 |
321.48 |
321.72 |
0.24 |
0.19 |
65.0 |
LLD |
6.9 |
Shepherd |
| BC275 |
382.65 |
386.35 |
3.70 |
2.17 |
5.1 |
LLD |
5.1 |
Shepherd |
| BC276 |
38.07 |
38.74 |
0.67 |
0.68 |
0.5 |
LLD |
0.2 |
Shepherd |
| BC279 |
65.67 |
66.08 |
0.41 |
0.17 |
41.3 |
LLD |
3.9 |
Shepherd |
| BC281 |
26.75 |
26.96 |
0.21 |
0.13 |
282.0 |
39.6 |
26.9 |
Shepherd |
| BC282 |
95.53 |
98.62 |
3.09 |
1.59 |
11.0 |
LLD |
9.7 |
Shepherd |
| BC287 |
279.36 |
279.49 |
0.13 |
0.07 |
2.8 |
7.6 |
0.8 |
Shepherd |
| BC287 |
290.97 |
292.04 |
1.07 |
0.53 |
35.6 |
10.9 |
17.9 |
Shepherd |
| BC296 |
235.31 |
236.88 |
1.69 |
0.64 |
2.6 |
LLD |
0.9 |
Shepherd |
| BC301 |
293.24 |
293.35 |
0.11 |
0.08 |
0.6 |
LLD |
0.0 |
Shepherd |
| BC319 |
26.80 |
27.30 |
0.50 |
0.32 |
28.2 |
20.8 |
13.6 |
Shepherd |
| BC274W1 |
380.89 |
381.22 |
0.33 |
0.26 |
332.0 |
LLD |
48.0 |
Shepherd Depth |
| BC274W2 |
423.08 |
430.56 |
7.48 |
5.29 |
0.2 |
LLD |
0.2 |
Shepherd Depth |
| BC303 |
208.94 |
209.05 |
0.11 |
0.08 |
3.5 |
LLD |
0.2 |
Shepherd Depth |
| BC304 |
218.37 |
218.51 |
0.14 |
0.11 |
6.1 |
LLD |
0.4 |
Shepherd Depth |
| BC309 |
201.03 |
201.30 |
0.27 |
0.13 |
LLD |
LLD |
0.0 |
Shepherd Depth |
| BC310 |
211.77 |
211.90 |
0.13 |
0.09 |
5.1 |
LLD |
0.3 |
Shepherd Depth |
| BC322 |
381.20 |
381.40 |
0.20 |
0.13 |
6.6 |
LLD |
0.5 |
Shepherd Depth |
| BC339 |
457.71 |
458.74 |
1.03 |
0.77 |
1.8 |
LLD |
0.8 |
Shepherd Depth |
| BC342W1 |
324.31 |
324.58 |
0.27 |
0.15 |
46.7 |
LLD |
3.9 |
Shepherd Depth |
| BC290 |
340.17 |
340.31 |
0.14 |
0.09 |
0.9 |
LLD |
0.0 |
Shepherd South |
| BC299 |
810.41 |
810.53 |
0.12 |
0.08 |
1.6 |
0.5 |
0.1 |
Shepherd South |
| BC299W1 |
758.61 |
758.82 |
0.21 |
0.14 |
0.1 |
1.6 |
0.3 |
Shepherd South |
| BC299W1 |
731.77 |
731.88 |
0.11 |
0.11 |
0.1 |
4.9 |
0.7 |
Shepherd South |
| BC299W1 |
909.57 |
909.97 |
0.40 |
0.37 |
0.3 |
LLD |
0.1 |
Shepherd South |
| BC299W1 |
579.84 |
580.04 |
0.20 |
0.10 |
2.1 |
LLD |
0.1 |
Shepherd South |
| BC315 |
719.35 |
720.02 |
0.67 |
0.38 |
1.7 |
3.5 |
2.1 |
Shepherd South |
| BC315 |
713.05 |
713.43 |
0.38 |
0.32 |
0.2 |
6.4 |
2.7 |
Shepherd South |
| BC243 |
246.36 |
246.82 |
0.46 |
0.16 |
86.4 |
4.1 |
8.5 |
Suffolk |
| BC244 |
271.55 |
271.80 |
0.25 |
0.22 |
9.3 |
LLD |
1.1 |
Suffolk |
| BC244 |
271.55 |
271.80 |
0.25 |
0.22 |
9.3 |
LLD |
1.1 |
Suffolk |
| BC245 |
428.61 |
430.55 |
253.02 |
1.40 |
24.0 |
LLD |
18.7 |
Suffolk |
| BC246 |
425.59 |
427.33 |
1.74 |
1.27 |
44.5 |
LLD |
31.4 |
Suffolk |
| BC247 |
202.14 |
202.41 |
0.27 |
0.19 |
0.6 |
LLD |
0.1 |
Suffolk |
| BC250 |
197.26 |
197.68 |
0.42 |
0.22 |
93.9 |
LLD |
11.6 |
Suffolk |
| BC264 |
124.20 |
124.97 |
0.77 |
0.38 |
2.4 |
LLD |
0.5 |
Suffolk |
| BC266 |
211.07 |
211.61 |
0.54 |
0.51 |
1.0 |
LLD |
0.3 |
Suffolk |
| BC267 |
133.94 |
134.13 |
0.19 |
0.17 |
308.0 |
LLD |
29.9 |
Suffolk |
| BC268 |
153.62 |
153.95 |
0.33 |
0.28 |
LLD |
LLD |
0.0 |
Suffolk |
| BC269 |
161.96 |
162.08 |
0.12 |
0.07 |
4.1 |
LLD |
0.2 |
Suffolk |
| BC273 |
187.19 |
187.33 |
0.14 |
0.11 |
0.5 |
LLD |
0.0 |
Suffolk |
| BC274 |
376.78 |
377.07 |
0.29 |
0.19 |
24.1 |
LLD |
2.6 |
Suffolk |
| BC275 |
291.53 |
291.70 |
0.17 |
0.09 |
59.7 |
2.5 |
3.2 |
Suffolk |
| BC277 |
16.38 |
16.96 |
0.58 |
0.56 |
LLD |
LLD |
0.0 |
Suffolk |
| BC278 |
29.15 |
29.74 |
0.59 |
0.25 |
3.0 |
LLD |
0.4 |
Suffolk |
| BC279 |
39.12 |
40.33 |
1.21 |
0.55 |
0.1 |
LLD |
0.0 |
Suffolk |
| BC286W1 |
259.36 |
259.65 |
0.29 |
0.28 |
0.1 |
LLD |
0.0 |
Suffolk |
| BC297 |
332.81 |
333.05 |
0.24 |
0.14 |
1.4 |
LLD |
0.1 |
Suffolk |
| BC316 |
176.11 |
176.38 |
0.27 |
0.20 |
347.0 |
LLD |
38.6 |
Suffolk |
| BC317 |
165.06 |
165.60 |
0.54 |
0.40 |
377.4 |
LLD |
83.9 |
Suffolk |
| BC317W1 |
167.24 |
167.38 |
0.14 |
0.12 |
246.0 |
LLD |
16.4 |
Suffolk |
| BC318 |
162.76 |
162.89 |
0.13 |
0.12 |
64.2 |
LLD |
4.3 |
Suffolk |
| BC321 |
233.42 |
234.08 |
0.66 |
0.55 |
10.1 |
LLD |
3.1 |
Suffolk |
| BC335 |
104.55 |
104.66 |
0.11 |
0.08 |
204.0 |
15.9 |
10.7 |
Suffolk |
| BC336 |
80.20 |
80.72 |
0.52 |
0.19 |
361.4 |
8.1 |
40.1 |
Suffolk |
| BC337 |
59.32 |
59.69 |
0.37 |
0.31 |
43.2 |
4.6 |
9.3 |
Suffolk |
| BC338 |
194.79 |
194.90 |
0.11 |
0.08 |
2.3 |
LLD |
0.1 |
Suffolk |
| BC007 |
634.76 |
635.24 |
0.48 |
0.39 |
0.2 |
LLD |
0.0 |
Youle East |
| BC041 |
377.22 |
377.32 |
0.10 |
0.07 |
0.5 |
LLD |
0.0 |
Youle East |
| BC041 |
385.41 |
386.23 |
0.82 |
0.14 |
5.9 |
1.5 |
0.7 |
Youle East |
| BC291 |
115.28 |
115.59 |
0.31 |
0.14 |
0.3 |
7.5 |
1.4 |
Youle East |
| BC291 |
124.08 |
124.39 |
0.31 |
0.07 |
8.1 |
LLD |
0.3 |
Youle East |
| BC292 |
151.60 |
151.77 |
0.17 |
0.12 |
1.0 |
LLD |
0.1 |
Youle East |
| BC294 |
103.25 |
103.68 |
0.43 |
0.42 |
4.0 |
2.9 |
2.5 |
Youle East |
| BC295 |
93.38 |
93.62 |
0.24 |
0.12 |
22.2 |
16.0 |
3.9 |
Youle East |
| BC298 |
135.58 |
135.87 |
0.29 |
0.12 |
10.0 |
LLD |
0.7 |
Youle East |
| MB011 |
306.96 |
307.10 |
0.14 |
0.14 |
30.8 |
18.7 |
5.7 |
Youle East |
| MB011 |
317.98 |
318.05 |
0.07 |
0.07 |
130.9 |
44.6 |
9.1 |
Youle East |
Notes1. The AuEq (gold
equivalent) grade is calculated using the following formula:
| AuEq g
per t=Au g per t+Sb%× |
Sb price per 10kg×Sb processing recovery |
|
|
Au price
per g×Au processing recovery |
Prices and recoveries used: Au $/oz = 1,700; Sb
$/t = 12,500; Au Recovery = 93% and; Sb Recovery =
95%2. LLD signifies an undetectable amount of
antimony. Detection limit for the analysis used is 0.01%
3. Composites that are not
interpreted to be connected to a named vein and are below 1 g/t
AuEq when diluted to 1.8m are not considered significant and are
not recorded here.
Table 2. Drill Hole Collar Details
|
Drill Program |
Drill Hole ID |
Easting |
Northing |
Elevation |
Depth |
Dip |
Azimuth |
Date Complete |
|
Kendall Upper |
AG023 |
15374 |
6773 |
959 |
89.66 |
5.3 |
45.5 |
16/09/2019 |
|
Kendall Upper |
BC001 |
15203 |
6724 |
1193 |
394.30 |
-40.7 |
110.8 |
8/07/2014 |
|
Kendall Upper |
BC125 |
15380 |
6794 |
953 |
60.37 |
10.7 |
65.2 |
8/07/2020 |
|
Kendall Upper |
BC126 |
15380 |
6794 |
954 |
51.48 |
19.0 |
85.2 |
10/07/2020 |
|
Kendall Upper |
BC307 |
15377 |
6725 |
969 |
153.50 |
52.0 |
101.1 |
11/04/2022 |
|
Kendall Upper |
BC308 |
15377 |
6724 |
969 |
150.00 |
39.7 |
77.7 |
16/04/2022 |
|
Kendall Upper |
BC311 |
15407 |
6879 |
953 |
74.60 |
32.5 |
113.2 |
4/07/2022 |
|
Kendall Upper |
BC325 |
15377 |
6725 |
969 |
113.80 |
44.6 |
131.0 |
16/06/2022 |
|
Kendall Upper |
BC326 |
15377 |
6724 |
969 |
137.30 |
34.9 |
146.1 |
24/06/2022 |
|
Kendall Upper |
BC328 |
15374 |
6734 |
969 |
117.78 |
32.2 |
54.8 |
27/06/2022 |
|
Kendall Upper |
KD529 |
15344 |
6759 |
959 |
82.80 |
5.8 |
80.0 |
26/07/2019 |
|
Kendall Upper |
KD530 |
15344 |
6758 |
959 |
81.00 |
15.0 |
103.0 |
28/07/2019 |
|
Kendall Upper |
KD553 |
15383 |
6765 |
961 |
44.30 |
22.1 |
77.9 |
9/09/2019 |
|
Kendall Upper |
KD557 |
15373 |
6773 |
958 |
82.00 |
11.8 |
58.6 |
23/09/2019 |
|
Kendall Upper |
KD574 |
15374 |
6740 |
969 |
70.00 |
16.5 |
62.4 |
22/10/2019 |
|
Kendall Upper |
KD576 |
15374 |
6740 |
969 |
90.45 |
12.8 |
40.1 |
23/10/2019 |
|
Kendall Upper |
KD580 |
15399 |
6795 |
951 |
35.00 |
23.7 |
66.6 |
25/10/2019 |
|
Kendall Upper |
KD588 |
15396 |
6735 |
970 |
34.90 |
10.9 |
135.4 |
8/11/2019 |
|
Kendall Upper |
KD688 |
15399 |
6824 |
952 |
39.15 |
30.5 |
122.7 |
1/04/2020 |
|
Kendall Upper |
MA005 |
15531 |
6501 |
1188 |
230.10 |
-41.1 |
289.5 |
6/11/2020 |
|
Shepherd Depth Extension |
BC274W1 |
15379 |
6754 |
958 |
603.00 |
-66.7 |
289.1 |
11/04/2022 |
|
Shepherd Depth Extension |
BC274W2 |
15379 |
6754 |
958 |
605.80 |
-66.7 |
289.1 |
20/05/2022 |
|
Shepherd Depth Extension |
BC303 |
15064 |
7178 |
632 |
254.80 |
-47.5 |
79.9 |
7/03/2022 |
|
Shepherd Depth Extension |
BC304 |
15064 |
7177 |
632 |
257.10 |
-54.3 |
90.1 |
15/03/2022 |
|
Shepherd Depth Extension |
BC309 |
15063 |
7179 |
632 |
308.70 |
-49.1 |
54.5 |
1/04/2022 |
|
Shepherd Depth Extension |
BC310 |
15063 |
7176 |
632 |
313.50 |
-49.4 |
119.3 |
27/04/2022 |
|
Shepherd Depth Extension |
BC322 |
15379 |
6754 |
634 |
549.00 |
-65.5 |
268.5 |
21/06/2022 |
|
Shepherd Depth Extension |
BC334W1 |
15329 |
7089 |
736 |
480.00 |
-70.1 |
254.9 |
29/07/2022 |
|
Shepherd Depth Extension |
BC339 |
15379 |
6755 |
958 |
518.80 |
-65.5 |
292.5 |
28/07/2022 |
|
Shepherd Depth Extension |
BC342W1 |
15329 |
7089 |
736 |
549.90 |
58.0 |
222.0 |
22/08/2022 |
|
Shepherd Infill |
BC242 |
15311 |
6889 |
820 |
150.00 |
-48.5 |
232.8 |
15/09/2021 |
|
Shepherd Infill |
BC243 |
15347 |
7057 |
764 |
312.00 |
-13.6 |
220.5 |
16/09/2021 |
|
Shepherd Infill |
BC244 |
15346 |
7057 |
763 |
500.00 |
-31.8 |
224.0 |
1/10/2021 |
|
Shepherd Infill |
BC245 |
15380 |
6755 |
958 |
500.00 |
-56.2 |
313.9 |
4/10/2021 |
|
Shepherd Infill |
BC246 |
15380 |
6755 |
958 |
454.10 |
-57.0 |
313.1 |
21/10/2021 |
|
Shepherd Infill |
BC247 |
15347 |
7061 |
763 |
227.80 |
-44.1 |
301.0 |
14/10/2021 |
|
Shepherd Infill |
BC249 |
15346 |
7060 |
763 |
230.00 |
-40.7 |
276.1 |
6/10/2021 |
|
Shepherd Infill |
BC250 |
15346 |
7061 |
763 |
224.69 |
-46.2 |
287.4 |
26/10/2021 |
|
Shepherd Infill |
BC250W1 |
15346 |
7061 |
763 |
162.80 |
-46.2 |
287.4 |
28/10/2021 |
|
Shepherd Infill |
BC258 |
15226 |
7153 |
652 |
84.50 |
-9.1 |
48.5 |
21/12/2021 |
|
Shepherd Infill |
BC260 |
15184 |
7195 |
697 |
155.60 |
-37.0 |
70.5 |
5/10/2021 |
|
Shepherd Infill |
BC260W1 |
15184 |
7195 |
697 |
191.50 |
-37.0 |
70.5 |
18/10/2021 |
|
Shepherd Infill |
BC261 |
15185 |
7195 |
696 |
177.40 |
-57.8 |
88.9 |
11/10/2021 |
|
Shepherd Infill |
BC262 |
15285 |
7030 |
737 |
117.80 |
-21.6 |
219.3 |
5/10/2021 |
|
Shepherd Infill |
BC263 |
15285 |
7032 |
736 |
68.60 |
-42.7 |
255.6 |
10/10/2021 |
|
Shepherd Infill |
BC264 |
15147 |
7139 |
658 |
182.00 |
-56.5 |
61.9 |
2/11/2021 |
|
Shepherd Infill |
BC266 |
15055 |
7175 |
634 |
264.00 |
-4.5 |
135.7 |
3/11/2021 |
|
Shepherd Infill |
BC267 |
15093 |
7177 |
633 |
225.10 |
-22.8 |
71.9 |
26/11/2021 |
|
Shepherd Infill |
BC268 |
15093 |
7178 |
632 |
243.26 |
-20.8 |
51.0 |
13/12/2021 |
|
Shepherd Infill |
BC269 |
15079 |
7180 |
632 |
242.13 |
-31.7 |
60.2 |
17/11/2021 |
|
Shepherd Infill |
BC270 |
15309 |
6942 |
792 |
144.00 |
-32.8 |
216.4 |
28/11/2021 |
|
Shepherd Infill |
BC271 |
15283 |
6971 |
756 |
120.00 |
-21.9 |
210.1 |
3/11/2021 |
|
Shepherd Infill |
BC272 |
15297 |
6965 |
774 |
153.00 |
-46.3 |
220.1 |
9/11/2021 |
|
Shepherd Infill |
BC273 |
15346 |
7059 |
764 |
218.20 |
-33.2 |
243.1 |
12/11/2021 |
|
Shepherd Infill |
BC273W1 |
15346 |
7059 |
764 |
155.40 |
-33.2 |
243.1 |
16/11/2021 |
|
Shepherd Infill |
BC274 |
15379 |
6754 |
958 |
400.00 |
-66.7 |
289.1 |
18/11/2021 |
|
Shepherd Infill |
BC275 |
15054 |
7175 |
635 |
442.50 |
7.9 |
151.0 |
19/11/2021 |
|
Shepherd Infill |
BC276 |
15210 |
7142 |
652 |
72.60 |
5.7 |
120.5 |
16/12/2021 |
|
Shepherd Infill |
BC277 |
15210 |
7142 |
651 |
75.19 |
-34.5 |
124.8 |
14/12/2021 |
|
Shepherd Infill |
BC278 |
15210 |
7142 |
650 |
85.00 |
-58.1 |
119.8 |
13/12/2021 |
|
Shepherd Infill |
BC279 |
15209 |
7140 |
651 |
108.01 |
-35.7 |
160.9 |
9/12/2021 |
|
Shepherd Infill |
BC281 |
15274 |
6851 |
794 |
156.70 |
-52.1 |
233.1 |
23/11/2021 |
|
Shepherd Infill |
BC282 |
15296 |
6881 |
811 |
141.50 |
-46.9 |
215.7 |
29/11/2021 |
|
Shepherd Infill |
BC286W1 |
15055 |
7174 |
635 |
420.00 |
8.5 |
146.7 |
18/01/2022 |
|
Shepherd Infill |
BC287 |
15379 |
6754 |
958 |
386.80 |
-60.5 |
265.1 |
6/12/2021 |
|
Shepherd Infill |
BC296 |
15379 |
6754 |
958 |
453.00 |
-57.1 |
273.1 |
27/01/2022 |
|
Shepherd Infill |
BC297 |
15379 |
6753 |
958 |
370.00 |
-53.4 |
257.2 |
3/02/2022 |
|
Shepherd Infill |
BC301 |
15379 |
6753 |
959 |
410.80 |
-58.0 |
252.6 |
22/02/2022 |
|
Shepherd Infill |
BC316 |
15065 |
7180 |
632 |
246.00 |
-24.5 |
55.0 |
8/06/2022 |
|
Shepherd Infill |
BC317 |
15065 |
7179 |
632 |
215.13 |
-28.8 |
64.6 |
17/06/2022 |
|
Shepherd Infill |
BC317W1 |
15065 |
7179 |
632 |
193.03 |
-28.8 |
64.6 |
21/06/2022 |
|
Shepherd Infill |
BC318 |
15065 |
7178 |
632 |
209.00 |
-30.2 |
75.1 |
28/06/2022 |
|
Shepherd Infill |
BC319 |
15270 |
6789 |
760 |
60.80 |
-44.7 |
315.6 |
27/04/2022 |
|
Shepherd Infill |
BC320 |
15271 |
6786 |
760 |
90.00 |
-37.0 |
232.5 |
28/04/2022 |
|
Shepherd Infill |
BC321 |
15063 |
7175 |
634 |
407.70 |
-6.3 |
146.6 |
20/05/2022 |
|
Shepherd Infill |
BC323 |
15277 |
6783 |
760 |
113.20 |
-46.1 |
244.0 |
2/06/2022 |
|
Shepherd Infill |
BC324 |
15278 |
6786 |
760 |
150.00 |
-45.4 |
325.6 |
7/06/2022 |
|
Shepherd Infill |
BC327 |
15275 |
6785 |
760 |
155.00 |
-58.5 |
250.0 |
2/08/2022 |
|
Shepherd Infill |
BC329 |
15275 |
6784 |
762 |
130.10 |
12.7 |
230.3 |
19/07/2022 |
|
Shepherd Infill |
BC330 |
15274 |
6785 |
761 |
109.80 |
0.6 |
254.6 |
25/07/2022 |
|
Shepherd Infill |
BC331 |
15274 |
6785 |
760 |
149.31 |
-25.0 |
263.2 |
15/07/2022 |
|
Shepherd Infill |
BC332 |
15275 |
6784 |
761 |
151.59 |
-3.5 |
233.3 |
27/07/2022 |
|
Shepherd Infill |
BC333 |
15275 |
6784 |
761 |
139.39 |
-21.3 |
236.3 |
21/07/2022 |
|
Shepherd Infill |
BC335 |
15243 |
6892 |
712 |
142.00 |
-17.6 |
215.2 |
7/08/2022 |
|
Shepherd Infill |
BC336 |
15243 |
6892 |
712 |
134.60 |
-5.8 |
226.9 |
11/08/2022 |
|
Shepherd Infill |
BC337 |
15243 |
6892 |
712 |
106.70 |
-25.1 |
221.9 |
19/08/2022 |
|
Shepherd Infill |
BC338 |
15064 |
7180 |
632 |
281.50 |
-31.5 |
50.3 |
11/07/2022 |
|
Shepherd South Extension |
BC290 |
15379 |
6753 |
959 |
393.00 |
-58.4 |
249.5 |
13/01/2022 |
|
Shepherd South Extension |
BC299 |
15823 |
6150 |
1188 |
995.00 |
-36.0 |
300.0 |
20/04/2022 |
|
Shepherd South Extension |
BC299W1 |
15823 |
6150 |
1188 |
995.00 |
-36.0 |
300.0 |
24/03/2022 |
|
Shepherd South Extension |
BC300 |
15379 |
6753 |
958 |
450.00 |
-49.5 |
238.4 |
11/02/2022 |
|
Shepherd South Extension |
BC315 |
15822 |
6149 |
1187 |
953.80 |
-34.8 |
287.7 |
21/07/2022 |
|
Youle East |
BC007 |
15863 |
6476 |
1189 |
779.50 |
-40.0 |
295.7 |
30/06/2017 |
|
Youle East |
BC041 |
15205 |
6728 |
1192 |
452.72 |
-60.9 |
85.7 |
16/10/2018 |
|
Youle East |
BC291 |
15347 |
6755 |
958 |
228.20 |
-43.9 |
157.8 |
12/01/2022 |
|
Youle East |
BC292 |
15347 |
6755 |
959 |
200.00 |
-19.8 |
156.7 |
17/01/2022 |
|
Youle East |
BC294 |
15297 |
6659 |
961 |
201.03 |
-8.4 |
139.4 |
21/01/2022 |
|
Youle East |
BC295 |
15297 |
6659 |
960 |
201.20 |
-35.3 |
141.9 |
25/01/2022 |
|
Youle East |
BC298 |
15297 |
6660 |
961 |
203.00 |
-33.6 |
163.0 |
28/01/2022 |
|
Youle East |
MB011 |
15220 |
6670 |
1189 |
480.00 |
-61.0 |
104.9 |
24/10/2011 |
Photos accompanying this announcement are available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/954b3a02-1885-432d-825b-17f4e7975d6a
https://www.globenewswire.com/NewsRoom/AttachmentNg/3eab5c99-de8d-4ad8-9d72-71b2499c268c
https://www.globenewswire.com/NewsRoom/AttachmentNg/7d0afeec-6f1d-450f-b6e9-7344e1072448
https://www.globenewswire.com/NewsRoom/AttachmentNg/52866bc7-6e97-49d5-9c4a-df5bae4531ed
https://www.globenewswire.com/NewsRoom/AttachmentNg/b28e7a29-36fd-4d2e-bd22-6c0966d32283
https://www.globenewswire.com/NewsRoom/AttachmentNg/0f459b9b-5d3d-4f2f-a54c-cfca4f40bf9a
https://www.globenewswire.com/NewsRoom/AttachmentNg/f3e04d1b-6efe-4972-8d28-fb95fb48dfb0
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