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Mincor Resources NL
Summary
| Project: | Kambalda | |
|---|---|---|
| Deposit: | Cassini | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 6/7/2019 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 7-6-2019: Mincor Resources NL announces an Exploration/Drilling Update report for its Cassini deposit at the Kambalda project. Drilling results incl. 1.45m @ 1045g/t Au from 416.00m. Mincor Resources NL (ASX: MCR, “Mincor” or “the Company”) advises that i | |
| Resources: | (Reserve, P+P): 0.87Mt @ 2.6g/t Au for 72900oz Au contained | |
| CP/QP: | [Overall Report]: Robert Hartley (Internal) | |
| ABSTRACT: | Mincor Resources NL (ASX: MCR, “Mincor” or “the Company”) advises that it has completed the Strategic Review of the Company’s gold operationsin Western Australia, which was first outlined in the March 2019 Quarterly Report and subsequently in the Company’s recent Investor Presentation released on 24 May 2019. The outcomes of the Strategic Review, and a significant new gold intersection at the Widgiemooltha Dome are discussed further below. The Strategic Review is consistent with Mincor’s core focus on restarting nickel sulphide production in the Kambalda District. The Company has received the results of a diamond hole that was being drilled at Cassini for nickel, but which intersected a gold bearing quartz vein while progressing towards the nickel target zone (approximately 200m further down the hole from this gold intersection). The drill core image below contains visible gold and the assay retuned an outstanding high-grade intercept of 1.45m at 1,045g/t from 416m, which includes a spectacular interval of 0.21m @ 7,610g/t. Given the significance of this intersection, Mincor is assessing its nature and the geological model in order to ascertain next steps. The Company believes this outstanding result clearly demonstrates the immense potential for high grade and significant gold endowment in the Widgiemooltha Dome region which may be available for a focused gold company. Sternship Advisers are providing advisory services and coordinating the gold divestment process in conjunction with Mincor management. | |
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