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Magnetic Resources NL
Summary
| Project: | Hawks Nest | |
|---|---|---|
| Deposit: | HN3 | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 7/26/2017 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 26-7-2017: Magnetic Resources NL announces an Exploration/Drilling Update report for its HN3 deposit at the Hawks Nest project. Drilling results incl. 4m @ 1.07g/t Au from 180m. Magnetic has completed a programme of RC drilling (13 holes for 1,900m) and s | |
| Resources: | x | |
| CP/QP: | [Overall Report]: George Sakalidis (Internal) | |
| ABSTRACT: | Magnetic has completed a programme of RC drilling (13 holes for 1,900m) and shallow vertical RAB drilling (150 holes, 1,581m) on geophysical and geological targets at its Hawks Nest exploration licence (E38/3127) approximately 15km SW of Laverton. The target areas and drilling locations are summarized in Figure 1 and Appendix 1 with the drilling results summarized in Tables 1 and 2 and as follows. Soil sampling Level 1 44A Kings Park Road PO Box 1388 West Perth WA 6872 Telephone 08 9226 1777 www.magres.com.au ABN 34 121 370 232 programmes are currently underway on targets HN4, 5 and 6. Further drilling is planned at target HN3 to extend the mineralized zone to the north and south. Drill hole MHNRC02 was targeted at an IP chargeability anomaly in an area of historical drilling with shallow gold intersections. Rock types evident from previous drilling include meta-sediment (including carbonaceous shale), porphyry and carbonate rock. This area comprises the Emerald workings, a series of NW-trending gold diggings over a 200m strike length which intersect and sinistrally displace a N–S trending magnetic anomaly flanked by a pronounced linear magnetic low about 750m in length. Rock sampling of old gold diggings along this 750m zone has returned values ranging from 0.41 to 3.88 g/t Au (Figure 3). Some of these gold values occur in a magnetite-bearing amphibolite interpreted to underlie adjacent porphyry outcrops, which is thought to be the cause of the linear magnetic high. | |
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