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Magnetic Resources NL
Summary
| Project: | Hawks Nest | |
|---|---|---|
| Deposit: | HN3 | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 7/17/2018 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 17-7-2018: Magnetic Resources NL announces an Exploration/Drilling Update report for its HN3 deposit at the Hawks Nest project. Drilling results incl. 1m @ 13.0g/t Au from 22m. Previous 3D modelling of historical results indicates a shallow (20 to 30m dep | |
| Resources: | x | |
| CP/QP: | [Overall Report]: George Sakalidis (Internal) | |
| ABSTRACT: | Previous 3D modelling of historical results indicates a shallow (20 to 30m depth) N to NW-trending 150m-wide mineralized shear zone dipping shallowly (10°-20°) to the west over a 150m strike length. Historical drilling to the north and south appears to have been far too shallow to intersect this interpreted mineralized position ( ASX release 26 July 2017). There are 59 intercepts with more than 0.5g/t Au and 22 intercepts with more than 1g/t Au, generally being 1 to 4m thick with the highest value of 1m @ 13g/t Au from 22m in hole HNRC007. A 10-hole RC drilling programme intersected 4m at 1.9g/t from 32m in hole MHNAC01 and 4m at 1.8g/t from 44m in hole MHNRC 24 (Refer to Table 1). Recent interpretation shows that there is potential for multiple mineralised flat west dipping horizons with at least two of these zones shown in Fig.1. The mineralised zones are often related to secondary ironstones interpreted to be weathered shear-hosted mineralisation. There appear to be two coherent mineralised horizons which are open down dip. As we know, stacked flat mineralised structures provide excellent large-scale drilling targets in the Laverton area. The big mines at Laverton, including Wallaby (7moz), Sunrise Dam(10moz) and Jupiter (1.3moz) all exhibit flat mineralised stacked structures. | |
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