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NTM Gold Ltd.
Summary
| Project: | Redcliffe Gold | |
|---|---|---|
| Deposit: | Bindy | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 5/9/2018 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 9-5-2018: NTM Gold Ltd. announces an Exploration/Drilling Update report for its Bindy deposit at the Redcliffe Gold project. Drilling results incl. 16m @ 4.74g/t Au from 222.0m. Emerging Goldfields explorer NTM Gold Ltd (ASX: NTM) (“NTM” or “the Company”) | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: lyle Thorne (Internal) | |
| ABSTRACT: | Emerging Goldfields explorer NTM Gold Ltd (ASX: NTM) (“NTM” or “the Company”) is pleased to announce high-grade intersections from the recently completed diamond drill hole at the Bindy prospect, located within the Redcliffe Project near Leonora, Western Australia. Bindy, which was discovered by NTM in 2017 from aircore drilling, now has a strike length of more than 800m, and remains open along strike and at depth. Diamond hole GTDD0012 was completed to a depth of 282.4m. The hole was testing the mineralisation at depth, undercutting the previous intercept of 28m @ 2.58g/t from 156m (Incl. 13m @ 4.07g/t) in GTRC447 (see ASX announcement 13 Feb 2018). The hole was a success and has extended the mineralisation by approximately 25m, returning: This intercept is part of an anomalous zone of approximately 40m downhole width, which correlates well with GTRC447. Hole GTDD0012 is the deepest drill hole into Bindy and the mineralisation remains open at depth. This hole is also the first diamond core hole into the prospect, and as such has given an excellent insight into the geology and alteration associated with the Bindy mineralisation. NTM Gold Managing Director Andrew Muir commented: “The first diamond drill hole into Bindy has given valuable insights into the geology, alteration and mineralisation as well as demonstrating good grade consistency. All of this information, combined with all the assays from the sizeable RC program, will be key inputs into the maiden resource estimate for the Bindy prospect. “Significantly, Bindy remains open at depth along its entire +800m strike length. Combined with the 350m gap in drilling, NTM sees significant room for the mineralisation to grow substantially. Furthermore, while the pending resource estimate will be an important value point, the majority of NTM’s deposits remain open, offering the Company excellent potential for future resource expansions beyond the pending resource update. In addition, there is excellent potential for new discoveries in the large areas that have had little drill testing, with a high correlation between areas that we have drilled and the presence of gold deposits.” | |
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