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Metal Bank Ltd.
Summary
| Project: | Triumph | |
|---|---|---|
| Deposit: | New Constitution | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 1/24/2017 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 24-1-2017: Metal Bank Ltd. announces an Exploration/Drilling Update report for its New Constitution deposit at the Triumph project. Drilling results incl. 2m @ 4.9g/t Au, 11g/t Ag from 18m. Metal Bank Limited (ASX: MBK) is pleased to provide the following | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Tony Schreck (Internal) | |
| ABSTRACT: | Metal Bank Limited (ASX: MBK) is pleased to provide the following drilling and exploration targeting update for the New Constitution prospect, Triumph Project in south-east Queensland, Australia. A direct correlation between additional processing of Induced Polarisation (“IP”) geophysical data and Au mineralisation returned in new drill results has defined a large compelling untested bulk tonnage target. Results have been received for the remaining fifteen drill holes completed at New Constitution prospect including six Reverse Circulation (“RC”) holes that were completed for 794m since the previous New Constitution update. strong correlation exists between high-grade Au mineralisation associated with the New Constitution ‘discovery’ structure and a geophysical IP anomaly enhanced through Metal Factor “MF” processing of the IP data. Consistent with this, a much larger MF anomaly 200m below surface and over 500m long is defined in the north of New Constitution (refer to Figure 1) which is also coincident with widespread near surface high-grade Au-Ag-Zn mineralisation returned in the latest round of drilling. In addition, the first hole drilled on the project by MBK in 2011 (TDH001) intersected wide spread anomalous gold with narrow high-grade intersections which now appear to be proximal to a larger gold system. The next phase of exploration on New Constitution will involve an initial diamond drill hole to investigate the bulk tonnage target. Detailed review and modelling of results from the latest phase of drilling on the ‘discovery structure’ will also be undertaken, including wireframing modelling of ore zones, geology and structure of the high-grade Au-Ag mineralisation for further drilling. | |
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