Proactiveinvestors recommends
Additional Information
Market: ASX
Sector: General Mining - Gold
EPIC: MYG
Latest Price: A$0.07  (1.41% Ascending)
52-week High: A$0.13
52-week Low: A$0.07
Market Cap: A$33.43M
1 year chart
digital-look imported chart image
1 day chart
digital-look imported chart image
Watchlist/Portfolio

Add to watchlist:

Only registered members can add into watchlist !

Register here !
Mutiny Gold
www.mutinygold.com.au

Mutiny Gold (ASX: MYG) is a diversified resource company focused on the exploration and development of the company's gold, copper and nickel tenements in Western Australia.

 

Mutiny’s main focus is the Deflector gold copper deposit which is located within the Gullewa project where gold production is forecast from 2012.

 

Full Mutiny Gold profile here
Is MYG a Buy, Sell or Hold?Get your FREE analysis of MYG
Pdf

Mutiny Gold delivers gold copper strike extension to over 800 metres at Deflector

31st May 2011, 2:37 am

The latest exploration program by Mutiny Gold (ASX: MYG) at the Deflector deposit was designed to test strike extensions, with the company delivering in the latest results.

A further southern extension of 60 metres has been made at Deflector, boosting the total strike length to over 800 metres.

Near surface results to the south of the existing Deflector resources include; 8 metres at 3.0 grams per tonne (g/t) gold and 0.9% copper, 3 metres at 5.7g/t gold and 0.4% copper, and 3 metres at 6.7g/t gold and 1.0% copper.

There was also a high grade copper hit, which included; 1 metre at 3.6g/t gold and 5.8% copper.

The results from the first 15 holes of an ongoing drilling program started earlier in the month will be incorporated into a revised resource estimate, which will be used in the company's Definitive Feasibility Study.

The revised resource estimation will be carried out at the conclusion of the current reverse circulation and diamond drilling programs.

Mutiny said the outcome of the drill program so far confirms the company’s expansion target of between 1.65 million to 2.5 million ounces of gold is on track.

The increased mineralised length provides opportunities for Mutiny to boost production rates, extend open pit mine life and enhancing the overall project economics.

Mutiny has three drill rigs fully deployed on site.

The company also kicked off underground diamond drilling at Deflector earlier in the month, which is ongoing.


The Deflector statistics

Deflector already holds some resources in the higher confidence categories, with Measured 130,000 gold ounces and 12,000 tonnes of copper, and Indicated 105,000 gold ounces and 4,500 tonnes of copper.

The deposit contains a total resource of; 3.4 million tonnes at 5.4g/t gold, 4.7g/t silver and 0.8% copper for 590,000 gold ounces, 510,000 silver ounces and 25,500 tonnes of copper.

Mutiny is looking at an initial production profile of around 50,000 ounces of gold, 50,000 ounces of silver and 2,000 tonnes copper in concentrate annually over 10 years.

 


Mutiny one of the cheapest ASX listed gold stocks says Foster Stockbroking

Earlier in the month Mutiny received a target price of $0.33 in a Foster Stockbroking research report, well above the last traded price of $0.11.

 

No investment advice

The Company is a publisher and is not registered with or authorised by the Financial Services Authority (FSA). You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person. You further understand that none of the information providers or their affiliates will advise you personally concerning the nature, potential, advisability, value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter.

You understand that the Site may contain opinions from time to time with regard to securities mentioned in other products, including company related products, and that those opinions may be different from those obtained by using another product related to the Company. You understand and agree that contributors may write about securities in which they or their firms have a position, and that they may trade such securities for their own account. In cases where the position is held at the time of publication and such position is known to the Company, appropriate disclosure is made. However, you understand and agree that at the time of any transaction that you make, one or more contributors may have a position in the securities written about. You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate.

From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.