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Metaliko Resources Ltd.
Summary
| Project: | Yandal | |
|---|---|---|
| Deposit: | Corboys | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 8/23/2016 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 23-8-2016: Metaliko Resources Ltd. announces a Resource Estimation report for its Corboys deposit at the Yandal project. Updated mineral resource estimate and optimisation studies for Corboys deposit. Metaliko Resources Limited (ASX: MKO) (“Metaliko” or t | |
| Resources: | (Resource): 1.67Mt @ 1.8g/t Au (Ind.) and 0.47Mt @ 1.91g/t Au (Inf.) at Corboys | |
| CP/QP: | [Resources]: David O'Farrell, Andrew James Hawker (Not stated;Hawker Geological Services Pty Ltd.) | |
| ABSTRACT: | Metaliko Resources Limited (ASX: MKO) (“Metaliko” or the “Company”) is pleased to provide an update for the Yandal gold project in Western Australia. The Company has been actively exploring both new and historic prospects within the +800km2 project area that includes the 2.3 Mtpa Bronzewing CIL/CIP treatment facility (“BZW”). Corboys is located on a granted mining lease (M53/15) and is our most advanced gold prospect having drilled 83 RC holes for 4,676m since 2015 in an effort to improve the Corboys economics. Our initial review in 2015 (prior to Metaliko drilling) showed that Corboys hosted an Indicated Resource of 1.5Mt @ 1.65 g/t for 79,500 oz Au using a 1 g/t cut (see ASX announcement - 20 February 2015). This was significantly less than the resources calculated by the previous operator. The current upgraded resource of 2.14Mt @ 1.82 g/t Au directly reflects the additional drilling by Metaliko since 2015. Despite the significant resource, Corboys has not been mined in the modern era. Corboys comprises multiple east dipping shoots, typically hosted by thin quartz veins/stockworks and shear zones (see Figure 1, Photo 1). The average width is 2-6m, but can blow out to 10-15m in certain areas particularly where cross structures are located. The host rock is typically granite, but there are significant tonnages also located within basalts and amphibolites. The strike is dominantly NNW. Many of the lodes are open and often better grades occur at depth. | |
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