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Mandalay Resources Corp.
Summary
| Project: | Costerfield | |
|---|---|---|
| Deposit: | Costerfield | |
| Location: | Australia | |
| Commodities: | Gold-Antimony | |
| Date: | 11/14/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Active Mining & Production | |
| Report details: | 14-11-2018: Mandalay Resources Corp. announces an Exploration/Drilling Update report for its Costerfield deposit at the Costerfield project. Drilling results incl. 0.77m @ 338.8g/t Au, 14.4% Sb . TORONTO, ON, November 14, 2018 – Mandalay Resources Corpora | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Chris Gregory (Internal) | |
| ABSTRACT: | TORONTO, ON, November 14, 2018 – Mandalay Resources Corporation ("Mandalay" or the "Company") (TSX: MND, OTCQB: MNDJF) is pleased to provide an exploration update from recent diamond drilling on the emerging Youle deposit at its Costerfield operation in Victoria, Australia, as well as initial diamond drilling on the newly discovered Aurora deposit at its Björkdal operation in Sweden. Since the Company’s last exploration press release on June 27, 2018, the Company has drilled 24 holes at the Costerfield Youle Vein (see Table 3). The Company has also drilled 54 holes at the Björkdal Aurora Zone (see Table 4). Highlights from the recent Youle (Costerfield) and Aurora (Björkdal) drilling include the following intercepts Dominic Duffy, President and CEO of Mandalay, commented, “Infill drilling at Youle continues to intercept significant gold and antimony grades, along with unbroken structural continuity over a 600 metre strike length. Three new intercepts have returned considerably higher grades than previously reported for Youle (see Mandalay press releases dated April 3 and June 27, 2018). Elevated understanding from infill drilling has revealed the potential for high-grade extension to the north and south, and at depth. This discovery gives the Company increased confidence about how this deposit can grow, and further potential for what has been, to date, the highestgrade deposit Mandalay has found. At a district level, the Youle discovery has accelerated our understanding of the geology and further potential of Costerfield and has unlocked new exploration targets, both adjacent to known mineralization, and throughout the property.” 2 Mr. Duffy continued, “We are also very pleased about an exciting discovery at Björkdal, known as the Aurora Zone. This exploration success is in keeping with the Company’s new focus at Björkdal to mine wider and higher-grade areas for increased profitability. The Aurora Zone is significantly wider than any other mining area at Björkdal, which is expected to allow for more efficient production. Exploration drilling and two levels of development initiated in the third quarter of 2018 have shown higher average grades than those historically mined from underground. Geologically, the Aurora Zone is noteworthy because it is the first area in the Björkdal underground where we have encountered mineralization above the marble contact. Historically this contact has limited the upper extensions of mineralization, meaning that the Aurora Zone has the potential for significant vertical extension. Currently, Aurora is open to extension in all directions.” | |
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