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Metal Bank Ltd.
Summary
| Project: | 8 Mile | |
|---|---|---|
| Deposit: | Floris Find | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 7/6/2020 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 6-7-2020: Metal Bank Ltd. announces an Exploration/Drilling Update report for its Floris Find deposit at the 8 Mile project. Drilling results incl. 6m @ 2.52g/t Au from 140m. Metal Bank Limited (ASX: MBK) (‘Metal Bank’, ‘MBK’ or the ‘Company’) is pleased | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report] Trevor Wright (Not stated) | |
| ABSTRACT: | Metal Bank Limited (ASX: MBK) (‘Metal Bank’, ‘MBK’ or the ‘Company’) is pleased to report the results of a six hole reverse circulation (RC) drilling program for a total of 750m on the Flori’s Find gold deposit at the 8 Mile Project in southeast Queensland, Australia (refer Figure 4). The drill program was aimed at evaluating the extension to near surface mineralisation at Flori’s Find, both down dip and northwards along strike of the maiden Inferred Mineral Resource of 195,000t @ 2.4g/t Au which forms the basis for the Flori’s Find Exploration Target of 3.6 to 5.1 Mt grading between 1.60 - 2.14 g/t Au for a total of 180,000 to 355,000 oz Au using a nominal 1 g/t Au cut-off3. It should be noted that the potential quantity and grade of the Exploration Target is conceptual in nature. There is insufficient drilling information beyond the initial drill section completed in 2019 to estimate a Mineral Resource over the Exploration Target area and it is uncertain if further exploration will result in the estimation of a Mineral Resource over this area. The drill results confirm down dip and strike extensions to the Inferred Mineral Resource in support of the Exploration Target. Drill-hole ETRC022 returned 6m @ 2.52 g/t Au from 140m, intersecting mineralisation 75m down-dip from previous drilling of 16m @ 1.96 g/t Au from 69m in ETRC0204 (Figure 1). | |
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