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Magnetic Resources NL
Summary
| Project: | Hawks Nest | |
|---|---|---|
| Deposit: | Lady Julie | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 6/29/2020 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 29-6-2020: Magnetic Resources NL announces an Exploration/Drilling Update report for its Lady Julie deposit at the Hawks Nest project. Drilling results incl. 16m @ 1.07g/t Au from 42m. The Lady Julie tenements are strongly mineralised with 217 gold interc | |
| Resources: | x | |
| CP/QP: | [Overall Report] George Sakalidis (Internal) | |
| ABSTRACT: | The Lady Julie tenements are strongly mineralised with 217 gold intercepts (1-19m) greater than 0.5g/t, which includes 94 greater than 1g/t, 34 greater than 2g/t, 20 greater than 3 g/t and 13 greater than 4 g/t ( Figure 1 and Table 2). At Lady Julie 120 RC holes totaling 5,943m comprising 1,500 2-4m composites and 877 1m splits have been completed to date. Thirteen RC holes totaling 1,185m are now being completed at Lady Julie (Figures 1 and 2), following up promising shallow intersections. In addition, an extensive soil programme comprising 388 samples is testing the potential NE linkage of the well mineralised thickened porphyry zone from HN9 (Figures 1 and 3), with intersections of 70m at 0.49g/t from 13m in MHNRC541 and 16m at 2.76g/t from 96m in MHNRC582, into the Lady Julie area. The area covering Lady Julie and HN9 is well endowed and is a focus of gold mineralisation over 11.4 sq.km. This area is only 2.5 kms north-east of the thickened gold rich porphyry zone at HN9 (Figure 1) and can effectively be part of the HN9 enlarged potential mining centre. Extensive lines of drilled mineralisation greater than 1g/t is evident on both the Lady Julie and HN9 areas shown up in Figure 1 and augers well for the economic potential of these areas. | |
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