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Mandalay Resources Corp.
Summary
| Project: | Costerfield | |
|---|---|---|
| Deposit: | Costerfield | |
| Location: | Australia | |
| Commodities: | Gold-Antimony | |
| Date: | 1/8/2019 | |
| Report Code: | NI43-101 | |
| Report Type: | Resource Estimation | |
| Project Stage: | Active Mining & Production | |
| Report details: | 8-1-2019: Mandalay Resources Corp. announces a Resource Estimation report for its Costerfield deposit at the Costerfield project. Year end mineral resource and reserve update for Costerfield. TORONTO, ON, January 8, 2019 -- Mandalay Resources Corporation | |
| Resources: | (Reserve, P+P): 537Kt @ 8.9g/t Au, 2.9% Sb | |
| CP/QP: | [Resources]: Denny Kentwell (SRK Consulting) | |
| ABSTRACT: | TORONTO, ON, January 8, 2019 -- Mandalay Resources Corporation ("Mandalay" or the "Company") (TSX: MND, OTCQB: MNDJF) today announced its year-end 2018 Mineral Resources and Reserves estimation for its Costerfield gold-antimony mine in Victoria, Australia which includes the addition of the high-grade Youle lode. Net of depletion from production during the first eleven months of 2018, Proven and Probable Mineral Reserves for contained gold (“Au”) increased by 26% versus the year prior, while contained antimony (“Sb”) decreased by 10% in the same period. In the Measured and Indicated Resource category, contained gold increased by approximately 34%, and contained antimony increased by 13%. The Company’s gold reserve grade increased by 46%. Details of the Mineral Resources and Reserves estimate at Costerfield are included in the notes below each table. The estimate was prepared by SRK Consulting (Australasia) Pty Ltd. (“SRK”). The year-end 2018 estimate of Mineral Resources and Reserves for Costerfield will be fully documented in a technical report prepared in accordance with National Instrument 43-101 (“NI 43-101”) to be filed on www.sedar.com and the Mandalay website www.mandalayresources.com within 45 days of this press release. All dollar amounts in this press release are in U.S. dollars unless otherwise noted. | |
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