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Metal Bank Ltd.
Summary
| Project: | Triumph | |
|---|---|---|
| Deposit: | Big Hans, Bald Hill | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 6/12/2018 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 12-6-2018: Metal Bank Ltd. announces an Exploration/Drilling Update report for its Big Hans, Bald Hill deposit at the Triumph project. Drilling results incl. 3m @ 10.9g/t Au, 13g/t Ag, 0.2% Zn from 42m. Metal Bank Limited (ASX: MBK) (‘Metal Bank’, ‘MBK’ o | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Tony Schreck (Internal) | |
| ABSTRACT: | Metal Bank Limited (ASX: MBK) (‘Metal Bank’, ‘MBK’ or the ‘Company’) is pleased to provide the following update on the Triumph gold project in southeast Queensland, Australia. Bedrock drilling (1,156 holes for 6,181m, ave. depth 5m) completed over structural targets reveals new kilometre-scale gold anomalies across the northern area of the project and extensions to existing high grade gold zones over the southern area. Follow-up drilling of these new targets is underway which has the potential to significantly increase the gold resource inventory occurring near surface at Triumph. In addition, gold and multielement geochemistry (from the bedrock data) highlight nine intrusion related gold centres or ‘hot spots’ interpreted to represent the Au-Cu-Mo intrusive centres with multi-million-ounce gold potential similar to other deposits in Eastern Australia (refer to Figure 1). Each of the interpreted centres are haloed by near surface gold mineralisation which suggests ‘leakage’ above the interpreted ‘hot spot’ intrusive centres. This new data continues to advance the two-pronged exploration strategy of growing the near surface gold resource base associated with the high grade ‘leakage’ style mineralisation in parallel with locating the large intrusion related gold system/s driving the whole project. Refer to Figure 1 showing the location of the main gold centres identified on the project to date. Limited surface geochemical data also provides strong support for the new gold targets including rock chip scree/float results up to 255g/t Au on the north-west extension (Bonneville prospect) and a large ‘open’ soil gold geochemical anomaly 500m long, >100ppm Au in soil contour over the south east extension (Bald Hill East prospect). Tony Schreck, Managing Director of Metal Bank commented: “The recent bedrock drill programme has identified new kilometre-scale gold anomalies across the northern area of the project, with follow-up drilling already underway. This is a significant step towards unlocking a multi-million-ounce intrusion related gold system at Triumph while continuing to grow our near surface gold resource inventory.” | |
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