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Magnetic Resources NL
Summary
| Project: | Hawks Nest | |
|---|---|---|
| Deposit: | HN5 | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 1/29/2018 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 29-1-2018: Magnetic Resources NL announces an Exploration/Drilling Update report for its HN5 deposit at the Hawks Nest project. Drilling results incl. 8m @ 4.2g/t Au from 4m. Magnetic Resources NL (the Company or Magnetic) is very pleased to announce a si | |
| Resources: | x | |
| CP/QP: | [Overall Report]: George Sakalidis (Internal) | |
| ABSTRACT: | Magnetic Resources NL (the Company or Magnetic) is very pleased to announce a significant very shallow gold mineralised zone at HN5 near old workings (Figure 1), within the Hawks Nest tenement E38/3127,which is associated with a shear zone that contains a black shale and quartz veining adjacent to a NNW trending porphyry. In drill hole MHNRC48, 4m composite sampling has intersected 8m @ 4.2g/t gold from 4m with a peak tellurium assay of 35ppm from 8 to 12 metres suggesting a possible gold-telluride association and may be similar to some of the Kalgoorlie deposits. Also of note in drill hole MHNRC48 is the elevated gold and multi elements including tellurium assay values in the porphyry from 32m to the end of the hole at 60m, which is where there is also ubiquitous silica alteration from visual logging (Table 1and mineralogical report). The porphyry with crowded texture is part of the shearing noted by the mapping completed here recently. Analyses of the relevant 1 metre “split” samples by fire assay is to be carried out shortly. Other significant intersections from the recent RC drilling and 4 metre composite sampling (Refer: Table 1and 2) include: | |
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