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Metal Bank Ltd.
Summary
| Project: | Triumph | |
|---|---|---|
| Deposit: | Chief Adachi, Handbrake Hill | |
| Location: | Australia | |
| Commodities: | Gold-Zinc | |
| Date: | 9/4/2017 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 4-9-2017: Metal Bank Ltd. announces an Exploration/Drilling Update report for its Chief Adachi, Handbrake Hill deposit at the Triumph project. Drilling results incl. 1m @ 2.1g/t Au, 0.4% Zn from 127m. Metal Bank Limited (ASX: MBK) is pleased to provide th | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Tony Schreck (Internal) | |
| ABSTRACT: | Metal Bank Limited (ASX: MBK) is pleased to provide the following drilling update at the Chief Adachi prospect, Triumph project in south-east Queensland. Intense alteration with mineralisation typical of a large bulk tonnage Au-Cu-Mo mineral system was intersected recently in the first drill hole into the Chief Adachi target1. A followup drilling programme comprising five reverse circulation (RC) drill holes and one diamond (DD) drill hole for a total of 935.8m has now been completed at the Chief Adachi and adjoining Handbrake Hill prospects, targeting both bulk tonnage style Au-Cu-Mo mineralisation and high-grade Au-Ag mineralisation. The mineralisation is associated with a broad IP geophysical resistivity low (>800m x 200m) entirely concealed by less than 10 metres of shallow cover. Results from the drill holes completed on the ‘discovery hole’ section highlight a continuation of the mineralised structure (Au±Mo) to a depth exceeding 75m. Importantly, reinterpretation of the IP geophysics resistivity data shows the mineralisation intersected in the discovery hole lies on the margin of a 300m x 50m intense resistivity low anomaly and now represents a high priority target. Detailed bedrock drilling is planned to test this resistivity target as well as two additional similar targets within the broad resistivity low beneath the shallow cover (Figure 2). Tony Schreck, Managing Director of Metal Bank said: “The ‘discovery hole’ at Chief Adachi intersected mineralisation associated with intense alteration typical of the outer carapace to a bulk tonnage Au-Cu-Mo style system and represents another major step forward on the project.” “High priority targets have now been generated adjacent to this ‘discovery hole’ where we expect to discover further gold mineralisation lying beneath shallow cover.” | |
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