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Magnetic Resources NL
Summary
| Project: | Hawks Nest | |
|---|---|---|
| Deposit: | HN5 | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 5/10/2018 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 10-5-2018: Magnetic Resources NL announces an Exploration/Drilling Update report for its HN5 deposit at the Hawks Nest project. Drilling results incl. 4m @ 1.95g/t Au from 4m. 14 shallow RAB holes (total 233m) were completed adjacent to and along strike f | |
| Resources: | x | |
| CP/QP: | [Overall Report]: George Sakalidis (Internal) | |
| ABSTRACT: | 14 shallow RAB holes (total 233m) were completed adjacent to and along strike from hole MHNRC048 which intersected 7m @ 4.5g/t Au from 5m in a quartz veined black shale unit intruded by porphyry (MAU ASX release 29 January’18). These RAB holes were designed to try to map the black shale and quartz veins in this area prior to more extensive RC drilling. Assay results of up to 4m at 1.95g/t in MHNRB160 in composite samples indicate anomalous gold in black shale as shown in Figure 1 and Table 1. Drill hole details are shown in Table 2. Only 6 of the 14 holes reached a target depth of 25m. The remaining 8 holes only averaged 10m depth because of shallow harder fresh bedrock. The 865m RC programme has recently started and will test this promising shallow gold zone outlined by the previous RC drilling and recent RAB drilling more thoroughly down to a vertical depth of around 25m. In addition eight separate anomalous soil areas with values above 100ppb some of which have historical diggings associated will be tested in this current RC programme.. These RC holes will average 28m depth and are designed to test for and map the near surface gold mineralisation (Table 3). | |
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