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Magnetic Resources NL
Summary
| Project: | Homeward Bound South | |
|---|---|---|
| Deposit: | Homeward Bound South | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 5/5/2020 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 5-5-2020: Magnetic Resources NL announces an Exploration/Drilling Update report for its Homeward Bound South deposit at the Homeward Bound South project. Drilling results incl. 40m @ 0.5g/t Au from 20m. Magnetic Resources is pleased to announce that it ha | |
| Resources: | x | |
| CP/QP: | [Overall Report]: George Sakalidis (Internal) | |
| ABSTRACT: | Magnetic Resources is pleased to announce that it has purchased eleven tenements covering 21 sq.km in the prospective Leonora-Laverton gold region Including P39/5455,P39/5928-5929, P39/5931-5934, P37/9144 and applications P39/6175-6177 covering a 5km strike length of the Federation Shear Zone situated 40km east of Leonora (Figures 1 & 2). The fault corridor shows up as a distinct aeromagnetic low zone interpreted to result from magnetite destruction within the shear zone. Two recent drilling programmes (Table 1 and 2) have been completed by Magnetic including a 12- hole 873m RC drilling programme with holes MHBSRC001-012 (averaging 73m depth) and a 103- hole 2742m RAB drilling programme with holes MHBSRB001-MHBSRB113 (averaging 27m depth). Most of the intersections are within broad strong alteration zones, shown up in the logging of RC chips, that indicate some size potential from drilling | |
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