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Mandalay Resources Corp.
Summary
| Project: | Cerro Bayo | |
|---|---|---|
| Deposit: | Cerro Bayo | |
| Location: | Chile | |
| Commodities: | Gold-Silver | |
| 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 Cerro Bayo deposit at the Cerro Bayo project. Drilling results incl. 1.93m @ 10.44g/t Au, 146g/t Ag. TORONTO, ON, July 25, 2016 -- Mandalay Resources Corporation ( | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Scott Manske (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 Cerro Bayo, drilling under Laguna Verde continued to extend the Coyita SE vein to depth toward the southeast. We now know that the vein is mineralized virtually all the way to the Cañadón Verde fault, which is the major graben-bounding structure along the southeast margin of the Laguna Verde sector. Also, during the first half of the year, the Company began infill drilling the Branca vein, a ladder-type structure that extends from its intersection with Coyita vein northwest toward the Kasia vein. New intercepts on Branca reported here have confirmed the continuity and tenor of the high-grade intercepts reported in our previous exploration update for the fourth quarter of 2015 (see Mandalay press release of January 19, 2016). Branca lies close to Coyita SE, and the capital development currently underway to develop Coyita SE will also serve to access Branca at low incremental cost. Scout drilling under Laguna Verde Norte and in the Brillantes sector have generated several gold and silver bearing intercepts which we will be following up in the second half of the year.” | |
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