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MRG Metals Ltd.
Summary
| Project: | Yardilla | |
|---|---|---|
| Deposit: | Ommaney | |
| Location: | Australia | |
| Commodities: | Gold-Nickel-Tungsten-Lead-Silver-Tellurium-Arsenic-Bismuth-Molybdenum-Zinc | |
| Date: | 5/18/2017 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 18-5-2017: MRG Metals Ltd. announces an Exploration/Drilling Update report for its Ommaney deposit at the Yardilla project. Drilling results incl. 30m @ 0.147g/t Au from 50m. Multi-element assay results have now been received and are reported for the RC d | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Benjamin McCormack (Not stated) | |
| ABSTRACT: | Multi-element assay results have now been received and are reported for the RC drilling program at Ommaney, Yardilla Project (Figure 1). These results mostly comprise 5m composite samples of RC chips submitted for comprehensive 51 element geochemical analysis including gold (fire assay). YRRC-001 drilled as part of a two hole fence designed to test the surface multi-element anomlay southwest of the existing diamond drilling (YRDH-003A, YRDH-003B), intersected numerous quartz veins with visible pyrite and rare galena (lead sulphide) from 50m-150m downhole, in intermediate sedimentary to volcanoclastic host rock. Assay results show zones of anomalous gold (> 0.1 g/t Au) across wide intervals from 50m-95m and from 120m-150m downhole, associated with these quartz veins (see Table 1). While these assays do not represent economic intersections they are extremely encouraging for the Yardilla Project in providing evidence and support for the likelyhood that a gold-rich part of the alteration system remains to be found there. YRRC-002 in contrast to YRRC-001 was weakly altered and intersected minimal quartz veins. A decision was made during the drilling program to not drill the RC hole at YRRC-005 based on the lithology (broad siliciclastic metasedimentary package) and weak alteration intersected in holes YRRC-003 and YRRC-004, on the same line. An additonal hole (YRRC-008) was added to the program at a location to the south of the intial intersection of favourable alteration in YRDH-003A (Dec 2016), and aimed back towards the north (60° Dip, 350° Azimuth). This hole was designed to intersect the projected alteration zone almost perpendicular to the plunge of parasitic folds and stretching lineations measured from the oriented drill core, where dilation of the rock and fluid flow would likely have been at a maximum during the alteration/mineralisation phase. | |
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