Mandalay Resources Corp has provided a special update on the early success of the Robinson drilling campaign at its Costerfield Operation in Australia, with highlights including an intercept of 1,780 grams per ton (g/t) gold over 0.17 metres (m) at hole RB007.
The Canada-based company noted that gold was seen in two other drill holes along trend, for which assays are pending, and within two additional intercepts along a parallel trend beneath the historic Cochran Mine.
In a statement, Dominic Duffy, president and CEO of Mandalay, said: "We are pleased to report the extraordinary result from the Robinson Prospect drilling campaign. These intercepts sit 2 km (kilometres) to the south of the Brown Prospect, which was the focus of our 2020 and 2021 eastern drilling campaign.”
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“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,” he added.
Due to the potentially material nature of the primary intercept, the news has been reported ahead of the assay of other visually significant intercepts within the drilling program and a supplementary update will follow shortly, the company added.
Similar veining has been observed within holes RB005 and RB008 which are on-trend, suggesting a structural continuation over approximately 250m, the company said, adding that 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 company said.
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.
Mandalay said drilling will continue on the Robinson Prospect, with an intent to define the geological framework of the prospect and understand the breadth of mineralization.
Further soils and bedrock sampling is also planned to provide greater resolution to the current 200m spaced lines. Although still in the early stages of exploration, Mandalay has committed to extending and augmenting the Robinson testing program in the near future.
Mandalay Resources is a natural resource company with producing assets in Australia (Costerfield gold-antimony mine) and Sweden (Bjorkdal gold mine).