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Metal Bank Ltd.
Summary
| Project: | 8 Mile | |
|---|---|---|
| Deposit: | Flori’s Find, Perry | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 4/23/2020 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 23-4-2020: Metal Bank Ltd. announces a Resource Estimation report for its Flori’s Find, Perry deposit at the 8 Mile project. Initial Mineral Resource Estimate at Project. Metal Bank Limited (ASX: MBK) (‘Metal Bank’, ‘MBK’ or the ‘Company’) is pleased to r | |
| Resources: | (Resources, Inf.): 195Kt @ 2.4g/t Au (15koz Au) | |
| CP/QP: | [Overall Report]: Trevor Wright (Not stated) | |
| ABSTRACT: | Metal Bank Limited (ASX: MBK) (‘Metal Bank’, ‘MBK’ or the ‘Company’) is pleased to report an initial Exploration Target underpinned by a maiden Inferred Mineral Resource estimate from limited drilling completed to date1 on the newly discovered Flori’s Find gold deposit at the 8 Mile Project in southeast Queensland, Australia (refer Figure 3). The drilling and maiden Inferred Mineral Resource support potential for additional mineralisation both down dip and along a >600 m strike length, as indicated by surface soil anomalies (Figure 1 and Figure 2). This provides the basis for an Exploration Target, in addition to the Inferred Mineral Resource, 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-off and limited to approximately 120 m below surface. Though based on extrapolating the Inferred Mineral Resource and extent of surface soil anomalies, it should be noted that the potential quantity and grade of the Exploration Target is conceptual in nature. There is no reliable drilling information beyond the initial drill section completed in 2019 sufficient 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. | |
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