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Metal Bank Ltd.
Summary
| Project: | Triumph | |
|---|---|---|
| Deposit: | Bald Hill, Handbrake | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 1/17/2017 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 17-1-2017: Metal Bank Ltd. announces an Exploration/Drilling Update report for its Bald Hill, Handbrake deposit at the Triumph project. Drilling results incl. 3m @ 4.8g/t Au, 12g/t Ag from 18m. Metal Bank Limited (ASX: MBK) (MBK or the Company) is pleased | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Tony Schreck (Internal) | |
| ABSTRACT: | Metal Bank Limited (ASX: MBK) (MBK or the Company) is pleased to provide the following drilling update for the Bald Hill and Handbrake Hill prospects, Triumph Project in south-east Queensland, Australia. Results have been received at Bald Hill ‘west’ where six Reverse Circulation (“RC”) holes were completed for 552m and at Handbrake Hill where two RC holes were completed for 120m. At Bald Hill, previous drilling by Metal Bank intersected near surface high grade gold mineralisation including 15m @ 10.3g/t Au. 76g/t Ag, 0.5% Cu from 9m1 . Results from recent RC drilling have intersected further high grade mineralisation defining the western extension of the Bald Hill mineralisation highlighting an additional 200m of strike concealed beneath 3m of cover sediments. Results include 3m @ 4.8g/t Au, 12g/t Ag from 18m (Figure 1). A diamond drilling programme (8 holes) to investigate the down plunge geometry of the Bald Hill mineralisation defined in the central portion of the prospect is expected to be completed in two weeks with results to follow in February. At Handbrake Hill recent drilling has highlighted a significant underexplored high grade target zone coincident with a northwest trending magnetic low (>800m long) concealed beneath shallow cover sediments. Only three drill holes have been completed on the prospect to date. All have intersected mineralisation including up to 1m @ 6.1g/t Au, 14g/t Ag, 0.8% Zn from 39m in MBK’s recent drilling (within a broad mineralised envelope) and 3m @ 10.5g/t Au, 23g/t Ag, 0.6% Zn from 31m from a historical (2007) RC drill hole completed 600m to the southeast on the same magnetic low trend (Figure 1 and Figure 2). | |
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