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Metal Bank Ltd.
Summary
| Project: | Triumph | |
|---|---|---|
| Deposit: | New Constitution | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 9/5/2016 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 5-9-2016: Metal Bank Ltd. announces an Exploration/Drilling Update report for its New Constitution deposit at the Triumph project. Drilling results incl. 10m @ 26.9g/t Au, 165g/t Ag, 6.0% Zn from 51m. Metal Bank Limited (ASX: MBK) (MBK or the Company) is | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Tony Schreck (Internal) | |
| ABSTRACT: | Metal Bank Limited (ASX: MBK) (MBK or the Company) is pleased to provide the following update on the recently completed shallow Reverse Circulation (“RC”) drill programme on its Triumph gold project in south-east Queensland, Australia. Two RC holes totalling 121m were completed at the New Constitution prospect to follow up and investigate the geometry of near surface gold mineralisation intersected in previous drilling. The true width of high grade mineralisation will only be determined with further drilling. However, TDH056 intersected 0.5m @ 2.6g/t Au prior to entering a 9.5m historically mined stope (downhole length) and then intersected 10m @ 26.9g/t Au, 165g/t Ag, and 6% Zn from 51m. If the stope represents historically mined high grade mineralisation, then the true width may be approximately 8m. Historical workings at surface can be traced along this particular target zone for over 500m with the majority of this trend being concealed by shallow cover. The historical underground stope intersected in drilling was not previously mapped and no production records are available. Across the New Constitution prospect, multiple interpreted target zones have been identified through surface geochemistry/geophysics and supported by an initial programme of 12 shallow scout RC holes (average depth of 12m) reported in June 20162 . Collectively, the multiple zones indicate over 3km of strike potential, the majority of which is concealed by shallow cover (<5m). | |
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