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Magnetic Resources NL
Summary
| Project: | Hawks Nest | |
|---|---|---|
| Deposit: | HN9 | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 5/22/2019 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 22-5-2019: Magnetic Resources NL announces an Exploration/Drilling Update report for its HN9 deposit at the Hawks Nest project. Drilling results incl. 3m @ 4.129ppm Au from 9m. After an extensive 93 RC drill programme totalling 4,231m at Hawks Nest 9 (HN9 | |
| Resources: | x | |
| CP/QP: | [Overall Report]: George Sakalidis (Internal) | |
| ABSTRACT: | After an extensive 93 RC drill programme totalling 4,231m at Hawks Nest 9 (HN9) and a 387-soil geochemical programme, a 2.1km-long sheared gold-rich porphyry target is now enlarged to a 3.1km boomerang shaped target and remains open to the north, east and at depth (Figures 1 and 2). There is already a plethora of near surface gold drilling results within the NNW trending 2.ikm target (Figure 1).The current programme of 88 RC drillholes for 3,125m underway is predominantly designed to test the near surface workings and surface mineralization on the western side of the target zone and to further extend the down dip mineralization in an east direction. The 2.1km target has shallow gold mineralisation within sheared porphyry and porphyry/mafic contacts and lies in a favourable position within the Mt Margaret anticline fold hinge zone. This new 1km long WSW geochemical anomaly (Figure 1 and 2) is 1000m x 200m in size and has a significant gold range from 20 to 535ppb (0.535g/t) with an average of 76 ppb (Table 5). It also contains sheared porphyry that trends WSW with some local workings. This target extends the 2.1km-long mineralised sheared porphyry target a further 1km to the WSW and 50 RC drillholes totaling 2,000m are planned to test this new zone and the southern extension of the 2.1km target zone across a drainage area (Figures 1 and 2). | |
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