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Magnetic Resources NL
Summary
| Project: | Hawks Nest | |
|---|---|---|
| Deposit: | HN9 | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 10/14/2019 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 14-10-2019: Magnetic Resources NL announces an Exploration/Drilling Update report for its HN9 deposit at the Hawks Nest project. Drilling results incl. 3m @ 10.994g/t Au from 16m. At HN9 an extensive drilling programme of 389 RC holes totaling 15,663m inc | |
| Resources: | x | |
| CP/QP: | [Overall Report]: George Sakalidis (Internal) | |
| ABSTRACT: | At HN9 an extensive drilling programme of 389 RC holes totaling 15,663m including 3535 4m composites and 2506 1m splits have been completed. The last drill programme of 25 RC holes totaling 721m (MHNRC252-MNHRC476) and 715 1m splits is mainly being reported on in this release. At HN9, a 200m-wide gold zone is outlined within the central part of HN9, which remains open to the north and a new SSW-trending zone is interpreted to be greater than 800m length. A new surface mineralized zone 150m to the west of the main 3km mineralized zone has also been discovered. In this release numerous higher-grade zones have been outlined which are currently being followed up with further shallow RC drilling programme. Plus, numerous new workings have been found located within some of the subtle geochemical areas, which are also being followed up with drilling. Some of the highest grades to date have been outlined in this current programme including: 3m at 10.99g/t from 16m including 1m at 31.48g/t from 16m in MHNRC456, 4m at 5.50g/t from 4m including 2m at 10.28g/t from 6m in hole MHNRC287, 3m at 4.84g/t from 17m including 1m at 13.38g/t from 19m in hole MHNRC254, 1m at 11.87g/t from 11m in MHNRC416, 1m at 9,68g/t from 14m in hole MHNRC415 and 1m at 11.21g/t from 7m in MHNRC410. These shallow higher-grade zones have enhanced the extensive surface gold zone on the western side as they are located near the plethora of surface and near-surface intersections and surface workings that are present in altered porphyry and altered porphyry/mafic contacts (Figure 1 and Table 2). There are several new workings that have been located in or near subtle geochemical areas in drainage influenced areas that are also being followed up potentially extending the near surface mineralisation. These higher-grade intersections and new workings are mainly being followed up with a shallow RC programme of 25 holes totaling 615m. | |
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