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Magnetic Resources NL
Summary
| Project: | Hawks Nest | |
|---|---|---|
| Deposit: | HN9 | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 3/25/2019 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 25-3-2019: Magnetic Resources NL announces an Exploration/Drilling Update report for its HN9 deposit at the Hawks Nest project. Drilling results incl. 4m @ 3.110ppm Au from 24m. After an extensive 53 RC drill programme totalling 2576m at Hawks Nest 9 (HN9 | |
| Resources: | x | |
| CP/QP: | [Overall Report]: George Sakalidis (Internal) | |
| ABSTRACT: | After an extensive 53 RC drill programme totalling 2576m at Hawks Nest 9 (HN9) the 2.1km-long sheared goldrich porphyry still remains open to the north, south, east and at depth. Figure 1 shows a plethora of near surface gold drilling results with further drilling extending the mineralisation to the east and down dip. Magnetic has so far drilled 93 RC drillholes and there are 64 historical RAB/RC drillholes (totalling 157 shallow holes for 6193m), which average only 40m in depth. Fifteen of the 27 drill lines (55%), averaging a significant 80–100m in length, have encountered gold intersections (Table 2), which remain open to the east and are being followed up with another 33 RC holes totalling 1805m (Table 3). This drilling is aimed at mainly extending the mineralised zone to at least 150m down dip and to infill drill the numerous promising gold-rich zones identified (Figure 1). In addition, 223 soil samples were analysed in the last program (bringing the total number of soil samples analysed to 902), which outlined a new southern geochemical anomaly (Figure 1) that is 300m x 200m in size and has a significant gold range from 70 to 535ppb (0.535g/t) with an average of 153ppb (Table 4). This target extends the 2km-long mineralised sheared porphyry target a further 150m to the south and 11 RC holes totaling 380m are planned to test this new zone (Figure 1) | |
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