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Magnetic Resources NL
Summary
| Project: | Hawks Nest | |
|---|---|---|
| Deposit: | HN9 | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 6/27/2019 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 27-6-2019: Magnetic Resources NL announces an Exploration/Drilling Update report for its HN9 deposit at the Hawks Nest project. Drilling results incl. 4m @ 9.976g/t Au from 28m. After extensive drilling of 250 RC holes totaling 9813m at HN9, a plus 200m-w | |
| Resources: | x | |
| CP/QP: | [Overall Report]: George Sakalidis (Internal) | |
| ABSTRACT: | After extensive drilling of 250 RC holes totaling 9813m at HN9, a plus 200m-wide gold zone is emerging on the northeastern part of HN9 which remains open downdip and to the north. The best shallow grades to date have been intersected in this northeastern zone, including 4m at 10g/t Au from 28m in MHNRC220 and 4m at 7.1g/t Au from 28m in hole MHNRC219. Nine new holes totaling 500m are planned for this zone to test for further downdip extensions of this highly promising gold mineralised area. (Figure 1). Also, very interesting shallow intersections of 8m at 2.9g/t Au from surface in MHNRC270 and 4m at 2.7g/t Au from surface in MHNRC280 have confirmed a very extensive surface gold zone on the western side as shown by 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)). An additional 31 infill holes are planned for this area totaling 515m to further define these thicker zones (Figure 1). The current drill programme comprised 157 RC holes totaling 5582m (Table 1), of which 96 holes totaling 3362m have been assayed and summarized in this release (Table 2). The sizeable 2.1km gold target has been confirmed by the drilling with many new shallow intersections (Figures 1 & 2 and Table 2). There are 148 intersections (ranging from 1 to 11m) greater than 0.5g/t Au, which includes 93 greater than 1g/t Au, 33 greater than 2g/t Au, 20 greater than 3g/t Au and 16 greater than 4g/t Au. It should be noted that all the intersections are very shallow and within the first 50m of the surface (Table 2). At this stage there is one discernable mineralised zone and a subsidiary second zone, both dipping shallowly around 20-30° to the east within the sheared porphyry and sheared mafic/porphyry contacts. | |
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