Mandalay drills 1,780 g/t gold over 0.17 metres at Costerfield, Australia
Mandalay Resources Corp. [MND-TSX; MNDJF-OTCQB; R7X-FSE] provided a special update on the early success of the Robinson drilling campaign at its 100%-owned Costerfield operation, Victoria, Australia.
Drilling has identified a potential offset to the historically producing Robinson Mine with an intercept of: 1,780 g/t gold over 0.17 metres (Estimated True Width (ETW) of 0.15 m) in RB007; and Visible gold seen in two other drill holes along trend (assays pending) and within two additional intercepts along a parallel trend beneath the historic Cochran Mine.
Due to the potentially material nature of the primary intercept, this news has been reported prior to the assay of other visually significant intercepts within the drilling program. A supplementary update will follow shortly.
Dominic Duffy, President and CEO, commented: “We are pleased to report the extraordinary result from the Robinson Prospect drilling campaign. These intercepts sit 2 km to the south of the Brown Prospect, which was the focus of our 2020 and 2021 eastern drilling campaign. The high-grade results look to be related to the historic Robinson Mine which historic accounts suggest, produced high-grade gold ore during the 1880s. While geological interpretation is preliminary, the intercept looks to be an offset downward continuation of the historically worked veining, a scenario which Mandalay is very familiar with. Past identification of similar kinds of offsets subsequently led to the discovery and mining of the Cuffley and Youle orebodies.
“Excitingly, this intercept is accompanied by two others within RB005 and RB008 which are on trend and, although assays are still pending, similar veining is observed within each suggesting a structural continuation over approximately 250 m. Visible gold was also identified in both RB005 and RB008, but to a significantly lesser degree than RB007. Mineralization was identified in a potential parallel structure further to the east with visible gold located in a secondary intercept in RB007 and in RB004 that could align with the parallel Cochrane trend and historic mining.
“The Robinson Prospect is approximately 2 km east of the underground infrastructure and is within the bounds of Mandalay’s current mining licence which makes this discovery all the more significant. This intercept is outstanding, although not a surprise as it is situated next to Costerfield which has consistently been one of the world’s highest gold grade mines.”