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Mandalay Resources Corp.
Summary
| Project: | Costerfield | |
|---|---|---|
| Deposit: | Costerfield | |
| Location: | Australia | |
| Commodities: | Gold-Antimony | |
| Date: | 6/27/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Active Mining & Production | |
| Report details: | 27-6-2018: Mandalay Resources Corp. announces an Exploration/Drilling Update report for its Costerfield deposit at the Costerfield project. Drilling results incl. 0.20m @ 551.0g/t Au, 25.6% Sb from 757m. TORONTO, ON, June 27, 2018 – Mandalay Resources Cor | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Chris Gregory (Internal) | |
| ABSTRACT: | TORONTO, ON, June 27, 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 vein at its Costerfield operation in Victoria, Australia. The most recent drilling results from the Youle vein since Mandalay’s press release of April 3, 2018 further demonstrate that mineralization of the vein system remains continuous at depth. The currently known strike of Youle extends 600 m and has a vertical depth of 150 m Dominic Duffy, President and Chief Executive Officer of Mandalay commented, “The Youle discovery is extremely exciting for Mandalay, as our drilling campaign continues to demonstrate consistent, high-grade results that share a similar structural setting to the previously mined Augusta and Cuffley Lodes. Mandalay’s current infill drilling program and related studies are being undertaken with the intention of delivering Mineral Reserve additions from Youle in our 2018 year-end Mineral Resources and Reserves update. The high grades, along with the fact that the Youle vein is in relatively close proximity to where we are currently mining, provides good potential for it to be the next viable ore source for Mandalay at Costerfield.” Mr. Duffy concluded, “The Youle discovery has the strong potential to continue Mandalay’s trend of continuous Mineral Reserve replacement at Costerfield over the past eight years and demonstrates the remarkable prospectivity of the district. Mandalay will be looking to increase its brownfields exploration spending in 2019 with the aim of making further discoveries.” | |
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