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Mandalay Resources Corp.
Summary
| Project: | Challocollo | |
|---|---|---|
| Deposit: | Challocollo | |
| Location: | Chile | |
| Commodities: | Silver-Gold | |
| Date: | 1/27/2017 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 27-1-2017: Mandalay Resources Corp. announces an Exploration/Drilling Update report for its Challocollo deposit at the Challocollo project. Drilling results incl. 3.4m @ 0.6ppm Au, 26.6ppm Ag, 2.1% Pb, 3.8% Zn from 76.50m. Mandalay Resources Corporation ( | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Scott Manske (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 Challacollo, we received our permit for exploring for an alternate source of water. This is a breakthrough in our development of the property.” Dr. Sander concluded, “At Challacollo we received permission for water exploration in January, 2017, a major milestone in the development of the project. During late 2016, drill testing of several large geophysical anomalies intersected widely distributed, disseminated pyrite, which naturally gives rise to the anomalies but is unrelated to silver-gold mineralization. However, hand trenching and sampling along the Lolon vein has revealed several hundred metres of previously undocumented strike length that contains high silver grades at the surface. As well, reinterpretation of our previous drill results has identified high-grade splays along Lolon. Both these targets represent opportunities to expand the resource when we next have drill rigs on-site to infill the current Inferred Mineral Resource of approximately 6 million ounces of silver.” | |
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