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Mandalay Resources Corp.
Summary
| Project: | Costerfield | |
|---|---|---|
| Deposit: | Costerfield | |
| Location: | Australia | |
| Commodities: | Gold-Antimony | |
| Date: | 7/24/2017 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Active Mining & Production | |
| Report details: | 24-7-2017: Mandalay Resources Corp. announces an Exploration/Drilling Update report for its Costerfield deposit at the Costerfield project. Drilling results incl. 0.71m @ 45.6g/t Au, 20.0% Sb. TORONTO, ON, July 24, 2017 -- Mandalay Resources Corporation ( | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Chris Gregory (Internal) | |
| ABSTRACT: | TORONTO, ON, July 24, 2017 -- Mandalay Resources Corporation ("Mandalay" or the "Company") (TSX: MND) is pleased to provide exploration updates for the first half of 2017 for two of its producing properties, Björkdal (Sweden) and Costerfield (Australia), and its Challacollo (Chile) development project. This press release refers to tables and figures. Accompanying tables can be found at the end of this press release, whereas the figures accompanying this release can be found in an exploration presentation posted on the Company’s website that can be accessed at: http://www.mandalayresources.com/investor-presentations/#Technical_Presentations Dr. Mark Sander, President and CEO of Mandalay, commented, “In the first half of 2017, our exploration programs yielded excellent results, which clearly demonstrate the potential for significant near-term and long-term Mineral Reserve additions at both Björkdal and Costerfield. “At Björkdal, extensional drilling to the northeast and north of the mine demonstrated that the gold mineralized system extends several hundred metres beyond the current mine in those directions and is not yet closed off. As a result, we have demonstrated the potential to increase Mineral Reserves at Lake Zone underground and West Pit at surface. We have also made significant progress in understanding the distribution and characteristics of high-grade skarn mineralization that occurs both in the open pit and underground mines. Follow-up drilling is planned. Dr. Sander concluded, “Lastly, at Challacollo, we reached a major milestone with the discovery of sufficient water to support an eventual operation. Activities to permit and complete a production well, followed by transfer of existing water rights to the new location are underway. We now have the option to launch a project to optimize previously estimated capital and operating costs for a mine and plant at Challacollo.” | |
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