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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
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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
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Mutiny Gold kicks off drilling at Spanish Galleon, infill drilling at Deflector ongoing

9th Jun 2011, 2:36 am

Mutiny Gold (ASX: MYG) continues to work towards unlocking the potential around the planned Deflector gold copper deposit open pits, with a new 17 hole reverse circulation drilling program at the Spanish Galleon prospect to follow up historical gold discoveries.

Mutiny has already recognised the potential at Spanish Galleon, which is located 1 kilometre west of Deflector, based on a surface geochemistry anomaly and historical drilling results, which include highlights of:

- 4 metres at 9.1 grams per tonne (g/t) gold;
- 5 metres at 3.4g/t gold;
- 20 metres at 2.8g/t gold; and
- 3 metres at 6.0g/t gold.

Spanish Galleon provides early production potential for Mutiny, with the prospect possibly pouring gold before Deflector, with Deflected currently forecast to enter production in the September quarter of 2012.

Earlier in the year Mutiny drilled two successful reverse circulation holes at Spanish Galleon which scissored an earlier intersection of; 34 metres at 1.9g/t gold and 0.44% copper, with the new hole intersecting; 3 metres at 6.6g/t gold and 0.37% copper.

The current drilling program is designed to follow-up and test the continuity of this mineralisation, together with that identified in other historical Spanish Galleon drilling.

In other Mutiny news, diamond infill drilling of the upper portion of the primary mineralisation zone at Deflector is ongoing, with the initial Deflector extension reverse circulation program successfully completed.

The program included 40 holes for 3609 metres, and added a further southern extension of 60 metres to the Deflector deposit to increase the total strike length to at least 800 metres.

The news flow for Mutiny will pick up over the next month, with results from infill drilling at Deflector expected within ten days, with more results from Spanish Galleon in two weeks, and the highly anticipated Pre-Feasibility Study in July 2011.


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 has an exploration target of between 1.65 million to 2.5 million gold ounces.

 

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