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Magnetic Resources NL
Summary
| Project: | Mertondale | |
|---|---|---|
| Deposit: | Mertondale | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 12/12/2017 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 12-12-2017: Magnetic Resources NL announces an Exploration/Drilling Update report for its Mertondale deposit at the Mertondale project. Drilling results incl. 4m @ 0.28g/t Au from 42m. RC drilling at Mertondale (Table 2 and 3) have intersected gold minera | |
| Resources: | x | |
| CP/QP: | [Overall Report]: George Sakalidis (Internal) | |
| ABSTRACT: | RC drilling at Mertondale (Table 2 and 3) have intersected gold mineralisation in lateritic ironstone in the area of recent nugget discoveries by local prospectors (refer to MAU ASX releases of 7/08/2017, 2/11/2017, 21/11/2017). Also, three trench samples in the original gold nugget patch area have high gold results of 33.3g/t, 7.7g/t and 0.3g/t from 3 separate 1kg samples within the western wall of the pit. In addition, a brecciated quartz vein in laterite within E37/1177 returned a high-grade gold value of 11.9g/t (Figure 3). The RC drilling programme was designed predominately to test the original nugget find near drillhole MMDRC05 (see Figure 1) and has not adequately covered the main 150m-long nugget patch 100m to the east which has only two holes drilled there, as it was discovered at the end of the RC programme. RC gold intersections in laterite include 1m at 1.11g/t from 2m, 1m at 0.46g/t from surface, 3m at 0.13g/t from 2m and 2m at 0.11g/t from surface. A deeper intercept of 4m at 0.28g/t from 42m occurs in basalt in hole MMDRC-16. The drill intercepts are summarised in Table 2, with drilling details in Table 3. | |
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