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Malachite Resources Ltd.
Summary
| Project: | Lorena | |
|---|---|---|
| Deposit: | Lorena | |
| Location: | Australia | |
| Commodities: | Gold-Copper | |
| Date: | 4/10/2018 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Active Mining & Production | |
| Report details: | 10-4-2018: Malachite Resources Ltd. announces an Exploration/Drilling Update report for its Lorena deposit at the Lorena project. Drilling results incl. 9m @ 11.32g/t Au from 48m. Malachite Resources Limited (ASX Code: MAR) (“Malachite” or the “Company”) | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Mark McGeough (Chinova Resources Pty Ltd.) | |
| ABSTRACT: | Malachite Resources Limited (ASX Code: MAR) (“Malachite” or the “Company”) is pleased to advise the drilling recently completed at the Lorena Gold Project has intersected some significant results which now warrant further exploration to potentially increase the resources at depth. To maximise gold production from the initial open cut operation the Lorena joint venture partners planned and completed a reverse circulation drilling program. The program completed 17 holes for a total of 2,190m of reverse circulation drilling. The drilling was designed to test conceptual targets for gold mineralisation; in shears parallel to the main A-lode that is currently being mined, A-lode mineralisation below the current pit, up dip projections of high-grade mineralisation and potential extensions to A and B-lodes to the north-west. A secondary aim was to provide additional information to update the project reserve block model in order to review the final pit design prior to the completion of mining of the open cut. Assays have been received for the first ten holes LMR107 to LMR116. The drillhole locations for these ten holes are shown in Figure 1 and the drilling details and assays are shown in Table 1. | |
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