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Mandalay Resources Corp.
Summary
| Project: | Bjorkdal | |
|---|---|---|
| Deposit: | Bjorkdal | |
| Location: | Sweden | |
| Commodities: | Gold | |
| Date: | 7/25/2016 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Active Mining & Production | |
| Report details: | 25-7-2016: Mandalay Resources Corp. announces an Exploration/Drilling Update report for its Bjorkdal deposit at the Bjorkdal project. Drilling results incl. 0.3m @ 141.00g/t Au. TORONTO, ON, July 25, 2016 -- Mandalay Resources Corporation ("Mandalay" or t | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Chris Gregory (Internal) | |
| ABSTRACT: | TORONTO, ON, July 25, 2016 -- Mandalay Resources Corporation ("Mandalay" or the "Company") (TSX: MND) is pleased to provide exploration updates for the first half of 2016 at all four of its properties: the three producing properties Costerfield (Australia), Björkdal (Sweden), and Cerro Bayo (Chile); plus the Challacollo (Chile) development project. Dr. Mark Sander, President and CEO of Mandalay, commented, “In the first half of 2016, exploration across the Company demonstrated the potential for significant near-term Mineral Reserve additions at all our operating mines and potential for significant new mineral discoveries at Björkdal and Challacollo. We intend to accelerate exploration at all of our projects in the second half of the year to confirm or convert as much of this potential as possible into Mineral Resources and Reserves by year-end. Dr. Sander continued, “At Björkdal, new drilling has pushed the limits of mineralization in the underground mine some 200 m to the north and up to 100 m to the east and northeast of the previous limits of drilling. We expect this work will translate into a significant increase in underground Mineral Resources and Reserves in the updated Technical Report for Björkdal we expect to release in the fourth quarter of this year. As well, positive drilling results were generated in and around the southeast part of the open pit, extending towards the Nylunds deposit where good infill drilling results were announced previously (see Mandalay press release issued on January 19, 2016). These results demonstrate the potential to expand open pit Mineral Reserves significantly to the southeast. Finally, our only new target testing drill hole in the first half of 2016 intersected a well-mineralized vein approximately one kilometre to the southeast of the Nylunds deposit in the Morbacken area. This new intercept lies within a five kilometre (“km”) long zone extending from the present open pit southeast past Nylunds and Morbacken all the way to the Ronnberget prospect. This zone is highlighted by anomalously high grades of gold in top-ofbedrock samples. We intend to sustain the pace of drilling for the rest of the year in order to convert as much new Mineral Reserve as possible and to test further this southeast-trending zone for significant mineralization. | |
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