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Magmatic Resources Ltd.
Summary
| Project: | Moorefield | |
|---|---|---|
| Deposit: | Carlisle Reefs | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 10/17/2017 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 17-10-2017: Magmatic Resources Ltd. announces an Exploration/Drilling Update report for its Carlisle Reefs deposit at the Moorefield project. Drilling results incl. 30m @ 1.6g/t Au from 80m. Magmatic Resources Limited (ASX: MAG) is pleased to announce dri | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Gordon Barnes (Internal) | |
| ABSTRACT: | Magmatic Resources Limited (ASX: MAG) is pleased to announce drill results from the second-round of RC drilling at the Carlisle Reefs gold prospect within its 100% owned Moorefield project in central NSW. A total of 14 RC drill holes (MFC016-029; 2,322m) were completed to follow-up the first-round drill intercepts at the Central Vein Zone and SE Lode2 and to test other structural targets (Figure 3 & Table 2). Results were also received for the 1m re-splits from the first-round 2m composite samples (MFRC001-015) Carlisle Reefs is an historic goldfield dating from the 1930’s which contains nearly 100 historic gold workings over an 800m x 800m area, including shafts, adits and drives (Figures 1 & 3) and had never been drilled prior to Magmatic’s first drill program completed in June 20172 . The new and updated results have extended the gold mineralisation at the Central Vein Zone to 150m vertical from surface and it remains open at depth (holes MFRC012, 013 & 017; Figure 2). The 1m re-split results have defined a higher-grade interval of 2m @ 8.44g/t Au that is 40m vertically beneath the projected position of an historic shaft (MFRC011; Figure 2). New gold zones have also been intersected in MFRC019, where significant shallow mineralisation was intersected, and in holes MFRC023 & 024 approximately 200m southwest of the previously drilled area (Figure 2). These newly defined zones fall within the +80ppm arsenic soil anomaly (Figure 3) and remain open at depth and along strike. | |
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