Marvel Gold Ltd (ASX:MVL) (OTCMKTS:GRXMF) (FRA:GR2) expects further results from resource expansion drilling at Tabakorole Gold Project in southern Mali will materially enhance the resource ounces and grade within this portion of the deposit where historical results encountered nearer surface were lower grade than those in the current program.
Three holes totalling 512 metres intersected:
- 12 metres at 2.1 g/t gold from 18 metres;
- 18 metres at 1.9 g/t from 53 metres;
- 10 metres at 1.5 g/t from 97 metres;
- 3 metres at 2 g/t from 10 metres;
- 22 metres at 1.8 g/t from 77 metres; and
- 11 metres at 0.7 g/t from 141 metres.
“Focus on resource expansion”
The mineralisation encountered in these three holes is a significant improvement to what has been modelled in this area in both thickness and grade.
Marvel managing director Phil Hoskins said: “We are extremely pleased with the thickness and grades of these drill results.
“The focus of this drill program was resource expansion, with the majority of the holes testing strike extensions.
“A number of holes were planned within the existing strike to improve the resource and there is no doubt that these drill holes have accomplished that.”
Importantly, these results are near surface and viable within an open pit mining scenario.
May confirm northwest extension
Marvel is awaiting results from a further 3,903 metres across 28 holes including drilling expected to confirm the northwest strike extension of the Tabakorole resource.
The company is currently undertaking a five-hole, 750-metre diamond drilling program in the southeast of the deposit and following up with an aircore program to the southeast of the deposit to further target the strike potential in this area.