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Mandalay Resources Corp.
Summary
| Project: | Costerfield | |
|---|---|---|
| Deposit: | Costerfield | |
| Location: | Australia | |
| Commodities: | Gold-Antimony | |
| 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 Costerfield deposit at the Costerfield project. Drilling results incl. 2.77m @ 9.7g/t Au, 4.8% Sb from 500.4m. Mandalay Resources Corporation ("Mandalay" or the "C | |
| 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 Costerfield, we generated encouraging results, with infill drilling results suggesting possible mine life extensions.” Dr. Sander continued, “At Costerfield, we continued infill and extensional drilling in and around the Cuffley and Brunswick lodes. The impact of these results will be contained in the Mineral Resources and Reserves update to be released later in the first quarter of 2017. As well, new high-grade intercepts were generated on the Cuffley Deeps West lode, the Central East and Central Main lodes below the King Cobra fault, and on the M-lode, all of which encourage more drilling in 2017.” During the second half of 2016, Mandalay drilled 17,147 m of diamond core at its Costerfield gold gold-antimony (“Sb”) mine in eighty-nine holes (including wedges) drilled on Sub King Cobra, Cuffley Deeps, Cuffley South/M Lode and Brunswick lodes (Table 8 and Figure 8). In addition, the Company completed 2367.5 m of on-vein operating development and associated sampling of N Lode and Cuffley Lode. | |
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