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Project: | Bjorkdal | |
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Deposit: | Bjorkdal | |
Location: | Sweden | |
Commodities: | Gold | |
Date: | 1/27/2017 | |
Report Code: | NI43-101 | |
Report Type: | Exploration/Drilling Update | |
Project Stage: | Active Mining & Production | |
Report details: | 27-1-2017: Mandalay Resources Corp. announces an Exploration/Drilling Update report for its Bjorkdal deposit at the Bjorkdal project. Drilling results incl. 8.3m @ 65.55g/t Au. Mandalay Resources Corporation ("Mandalay" or the "Company") (TSX: MND) is ple | |
Resources: | (not mentioned in this report) | |
CP/QP: | [Overall Report]: Chris Gregory (Internal) | |
ABSTRACT: | Mandalay Resources Corporation ("Mandalay" or the "Company") (TSX: MND) is pleased to provide exploration updates for the second half of 2016 at all four of its properties: the three producing properties, Björkdal (Sweden), Costerfield (Australia) and Cerro Bayo (Chile); and the Challacollo (Chile) development project. Dr. Mark Sander, President and CEO of Mandalay, commented, “In the second half of 2016, exploration yielded generally favourable results. Our drilling generated significant new drill intersections that are expected to support short-term and eventual long-term Mineral Resource and Reserve additions for the Company as a whole. At Björkdal, we obtained excellent results, suggesting we are well on the way for another significant Mineral Resource and Reserve expansion in late 2017, following the 200,000 ounce gold Reserve increase announced on December 15, 2016. At Björkdal, assays obtained too late to be included in the recently announced reserve addition of over 200,000 ounces of gold (see Mandalay December 15, 2016 press release) suggest we will achieve another significant reserve addition at the next update in late 2017. In the underground mine, we have completed infill and extension drilling of existing Inferred Mineral Resources in the Lake Zone, Central Zone, and Main Zone. For the open pit mine, we have completed infilling previously Inferred Mineral Resources in the Björkdal East Pit and in the new Nylunds Pit. As well, we have completed infilling shallow mineralization at Rönnberget, approximately 4 kilometres east-southeast of the Björkdal Pit, which we also expect to convert to open pit reserves. With our wider step-out drilling at Björkdal, we have demonstrated that wellmineralized gold-quartz veins continue several hundred metres to the north of the defined reserves in the Lake Zone in long holes drilled from underground. As well, both shallow and deep gold intercepts in the Storheden area northeast of the open pit suggests that more drilling in this area could define additional resources in future years. | |
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