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Magnetic Resources NL
Summary
| Project: | Hawks Nest | |
|---|---|---|
| Deposit: | Lady Julie | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 1/23/2020 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 23-1-2020: Magnetic Resources NL announces an Exploration/Drilling Update report for its Lady Julie deposit at the Hawks Nest project. Drilling results incl. 1m @ 18.18g/t Au from 15m. At Lady Julie an initial drilling programme of 90 RC holes totaling 4, | |
| Resources: | x | |
| CP/QP: | [Overall Report]: George Sakalidis (Internal) | |
| ABSTRACT: | At Lady Julie an initial drilling programme of 90 RC holes totaling 4,421m including 1,120 2- 4m composites and 622 1m splits have been completed to date. Promising results along the two western mineralised lines, which are only 1km and 1.5km east of the exciting HN9 3km long mineralised project, are being followed up over a total of 1.3km strike length with 30 RC holes totaling 1,520m (Figures 1 and 2). The area covering Lady Julie and HN9 is well endowed and is a focus of gold mineralisation over 11.4 sq.km and has potential for a mining centre after more drilling is completed (Figures 1 and 2). These two western shears trending NS through Lady Julie are strongly mineralised with high-grade and some thicker shallow intersections. The most northern mineralised area (Figure 2 and 3) has had most of the drilling completed. The mineralisation shows a close association with altered porphyries (Figure 3), similar to HN9, and has had 61 soil samples assayed. A further 684 soil samples are planned in this programme to the north and south of this area (Figure 6) to ascertain the size of the mineralised zone. Figures 3, 4 and 5 show a persistent dipping shallow altered porphyry which is open to the north and at depth where five separate lines of drilling are planned (Figures 3 and 4). A shallow RAB geochemical programme has been completed over most of the Lady Julie Project area with 291 samples assayed (Figure 6) with several anomalous areas defined. | |
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