Mandalay Resources Provides Exploration Results for the First Half of 2017
(Thomson Reuters ONE) -
TORONTO, July 24, 2017 (GLOBE NEWSWIRE) -- Mandalay Resources Corporation
("Mandalay" or the "Company") (TSX:MND) is pleased to provide exploration
updates for the first half of 2017 for two of its producing properties, Björkdal
(Sweden) and Costerfield (Australia), and its Challacollo (Chile) development
project.
This press release refers to tables and figures. Accompanying tables can be
found at the end of this press release, whereas the figures accompanying this
release can be found in an exploration presentation posted on the Company's
website that can be accessed at:
http://www.mandalayresources.com/investor-presentations/#Technical_Presentations
Dr. Mark Sander, President and CEO of Mandalay, commented, "In the first half of
2017, our exploration programs yielded excellent results, which clearly
demonstrate the potential for significant near-term and long-term Mineral
Reserve additions at both Björkdal and Costerfield.
"At Björkdal, extensional drilling to the northeast and north of the mine
demonstrated that the gold mineralized system extends several hundred metres
beyond the current mine in those directions and is not yet closed off. As a
result, we have demonstrated the potential to increase Mineral Reserves at Lake
Zone underground and West Pit at surface. We have also made significant progress
in understanding the distribution and characteristics of high-grade skarn
mineralization that occurs both in the open pit and underground mines. Follow-up
drilling is planned.
"At Costerfield, drilling has improved the outlook for mine life extensions at
different scales. At Brunswick, new holes have delivered high-grade, deep
intersections that are expected to make a positive impact on the updated Mineral
Resource and Reserve model anticipated in the fourth quarter. As previously
reported, we anticipate the new model will significantly extend mine life based
on our expectation that Brunswick will prove to be economic. As well, the
potential next major new mineralized shoot after Brunswick has begun to emerge
in our new drilling below the historic workings on the main Costerfield lode.
These intercepts contain extraordinary gold and antimony grades scattered along
a 400 metre strike length and 100 metre vertical interval. New intercepts along
N-lode have also identified new splays which, as we follow them up, have the
potential for incrementally adding Reserves near current underground
infrastructure."
Dr. Sander concluded, "Lastly, at Challacollo, we reached a major milestone with
the discovery of sufficient water to support an eventual operation. Activities
to permit and complete a production well, followed by transfer of existing water
rights to the new location are underway. We now have the option to launch a
project to optimize previously estimated capital and operating costs for a mine
and plant at Challacollo."
Björkdal Exploration
Significant Exploration Results (Tables 1 through 4; Figures 1 through 5)
Underground Exploration
In the first half of 2017, underground diamond drilling at Björkdal extended the
north-eastern limit of the Björkdal vein-system and infilled discrete areas.
Intercepts from the extensional drilling demonstrate that gold mineralization
extends along-strike from the defined resource for at least 200-300 metres
(Figure 2 and Table 2) and mineralization remains open to the north and east.
Infill drilling also increased confidence and delivered some high-grade
intercepts in areas closer to the current limits of the mine (Figure 3 and Table
3).
Open Pit Exploration
Near-mine surface drilling with both core and Reverse Circulation methods during
the first half of 2017 focused on extending gold mineralization in the north-
western portions of the West Pit (Figure 4). This drilling intercepted many new
mineralized intervals in the northern wall of the West Pit (Table 4). Results
from this extensional drilling demonstrate that the mineralized vein-system in
this area of the deposit extends from the current limits of the West Pit to at
least 150 m further to the north. These veins are interpreted to correlate with
the same vein-system mined from the underground mine, located to the east of
this area. Therefore, the Björkdal vein-system remains open to the west and
north-west of the current mine footprint, presenting high-calibre extensional
targets for future exploration programs at Björkdal.
In addition to successful extensional drilling of the Björkdal vein-system,
significant gold intercepts were also obtained from non-veined, mineralized
carbonate lenses belonging to the host-stratigraphy (the Björkdal marble unit).
These mineralized carbonate lenses are strongly altered, containing abundant
amphiboles (predominately actinolite), silica and chlorite with accessory
pyrite, pyrrhotite and pyroxenes. This metasomatic assemblage suggests skarn-
like depositional mechanisms, and represents an exciting new deposit-type both
within and peripheral to the footprint of the current Björkdal mine.
Three gold-bearing, skarn-like bodies have been defined though drilling over the
past six months; two in the vicinity of the underground mine and a single in the
open pit mine (Figure 5). The skarnified carbonate lenses are shallow dipping,
narrow, plunging bodies that are located above and adjacent to the Björkdal
vein-system. Intercepts of this skarn-hosted gold-mineralization include:
* 12.2 m (true width) at 26.99 g/t Au in hole MU7-037 (Table 2); and
* 1 m at 10.99 g/t Au in hole MR7-002 and 8 m at 0.67 g/t (Table 4).
These results suggest that this style of mineralization presents the possibility
of bulk-minable tonnages of potentially much higher gold-concentrations than the
more typical Björkdal vein systems. Within the month of June, a 1,176 tonne
parcel of the recently exposed West Pit skarn ore was crushed and milled with
results indicating a back-calculated head-grade of 4.30 g/t Au. The recent
intercepts of all significant gold-bearing skarn intercepts will be followed up
as priority targets in the remainder of 2017 and 2018 exploration programs,
while regional exploration models and programs will be refined to incorporate
further targeting of near-surface, high-grade gold skarn and skarn-like
mineralized systems in the larger Björkdal area.
Björkdal Drilling, Sampling and Assaying
During the period from January 1, 2017 to June 30, 2017, a total of 13,640
metres of exploration drilling was completed in 66 drill holes. Drilling
included 23 surface core and RC holes totalling 3,451 m and 43 underground core
holes totalling 10,189 m. All drill-hole collars are surveyed, and downhole
surveys are completed in order to record hole azimuth and dip variations.
All surface and underground exploration drilling has been conducted by third
party contractors, with a mix of core and reverse circulation drilling using
WL66, NQ2, HQ and 5.5" RC sized drilling equipment (producing 50 mm, 50.5 mm and
63.5 mm diameter core respectively).
Core and RC samples are logged by Mandalay geologists on-site. Assaying of
Björkdal samples was completed at CRS Minlab Oy (CRS) in Kempele, Finland and
ALS in Piteå, Sweden. Whole core samples (WL66 and NQ2 size) were sent directly
to the independent laboratories for sample preparation and assaying, while HQ
diameter core was half-sawn at the laboratories off-site before sample
preparation. Assaying was conducted utilizing the Pal1000 (CRS) and LeachWELL
(ALS) cyanide leaching processes. Mandalay's rigorous QA/QC program includes the
use of standard reference samples, blanks, duplicates, repeats, and internal
laboratory quality assurance procedures. More details on the drilling, logging,
sampling, and assaying procedures are contained in the Technical Report
"Mandalay Resources Corporation Technical Report on the Björkdal Gold Mine,
Sweden" filed on SEDAR (www.sedar.com) on January 27, 2017.
Costerfield Exploration
Significant Exploration Results (Tables 5 through 8; Figures 6 through 12)
Brunswick
Following structural analysis of Brunswick mineralization, the Company conducted
infill drilling within the Penguin to Kiwi (PK) panel of the Brunswick lode
(Table 6 and Figure 7). Further confidence of grade continuity was gained
through this drilling, with high-grade intercepts including 24.4 g/t Au and
6.1% Sb over a vein width of 2.01 m in BD278W2.
These results will be reflected in a resource update expected in the fourth
quarter of 2017. This drilling is expected to result in an increase in Indicated
Mineral Resource of the Brunswick lode.
Further drilling was undertaken with the purpose of extending Brunswick below
the Kiwi Fault and to the south. Both drilling campaigns intercepted antimony
and gold mineralization along the Brunswick corridor. Mineralization has now
been identified approximately 280 m below historic workings and approximately
100 m below the current Inferred Mineral Resource. Below the historic B3 pit,
the Brunswick line of mineralization has been identified at a depth of 225 m
below surface and over a strike length of 300 m (Figure 7). Highlights of this
extension drilling are:
* 9.3 g/t Au and 2.5% Sb over a vein width of 1.56 m in BD268 below the Kiwi
fault; and
* 17.4g/t Au with 4.7% Sb over a vein width of 0.63m in BD289 within Brunswick
South.
Future exploration efforts are expected to focus on extending the current
Mineral Resource below the Kiwi fault and into Brunswick South, pending economic
analysis.
Costerfield
A target testing campaign investigating the continuation of mineralization
underneath the historic Costerfield mine workings is currently underway. The
early stages of this campaign have shown great success with mineralization
confirmed over a strike length of approximately 500 m and to a depth of
approximately 150 m vertically below the current workings (Figure 8). The
highlight of the program during the first half of 2017 is the deepest northern
intercept, which contained 59.8 g/t Au and 3.2% Sb over a true vein width of
0.56 m in BC006w1 (Table 7).
N Lode Upper
Structural analysis of the mineralized corridor known as N Lode has led to the
recognition of a previously untested prospective zone near to surface. The first
drill hole to test this area has confirmed the presence of an up-dip continuity
to the enriched northern portion of N Lode. The proximity of this mineralization
to established underground development makes this find an important focus for
near future delineation drilling (Table 8 and Figure 9).
Alison South
Testing of the upper portion of mineralization over the Cuffley Deposit has
returned high-grade gold results within two veins in an offset, up-dip
continuation of the Cuffley Deposit named Alison South. The highlight of this
drilling was an intercept containing 71.1 g/t Au and 0.5% Sb over a true vein
width of 0.35 m in AD168 (Table 8 and Figure 10).
K Lode
A high-grade portion of K Lode was discovered through the opportunistic drilling
program (Table 8 and Figure 11). This vein has already been accessed through
mining on an intersecting portion of N Lode which makes this a potential low-
cost mining source in the near future.
Augusta East
A drilling campaign investigating the possibility of an eastern repetition of
the Augusta and Cuffley line of mineralization is currently underway. Gold has
been located within a near-surface, sub-vertical vein set in the first hole to
be drilled on this target (Figure 12). Although the grade of these intercepts
are not potentially economic, they are characteristic of the periphery of
orebodies in the district. Follow-up drilling is planned.
Costerfield Drilling, Sampling, and Assaying
During the first half of 2017, Mandalay drilled 18,489 m of diamond core at its
Costerfield gold-antimony mine (Table 5). 5,520 m was dedicated to increasing
immediate mine life through infill and extension of the Brunswick resource and
through opportunistic drilling projects on K Lode, N Lode and Alison South.
12,969 m was devoted to regional exploration, with the drill testing of the
Costerfield Mine extension, Augusta East and Brunswick line of lode extension.
In addition, the Company completed 1,652 m of on-vein operating development and
associated sampling of N Lode, Cuffley Lode, New Vein, Bob lode and associated
splays.
Drill core was logged and sampled by Costerfield geologists, who also mapped and
sampled the development advances. All samples were sent to Onsite Laboratory in
Bendigo, Victoria, Australia for sample preparation and assay. Site geological
and metallurgical personnel have implemented a QA/QC process that includes the
regular submission of standard reference materials and blanks with drill and
face samples submitted for assay. Standard reference materials have been
certified by Geostats Pty Ltd. (see Technical Report entitled "Costerfield
Operation, Victoria, Australia NI 43-101 Report", filed on SEDAR (www.sedar.com)
March 31, 2017, which contains a complete description of drilling, sampling, and
assaying procedures).
Challacollo Exploration
Four holes were drilled at Challocollo during the first half of 2017 to explore
for water, a critical requirement for further project development. A total of
416.5 metres was drilled, with all four holes encountering promising quantities
of water. Drill hole locations are provided in Figure 13, with pump test results
in Table 9.
Qualified Person:
Chris Gregory, Vice President of Operational Geology and Exploration at Mandalay
Resources, is a Member of the Australian Institute of Geoscientists (AIG), and a
Qualified Person as defined by NI 43-101. He has reviewed and approved the
technical and scientific information provided on all the Company's properties
contained in this release.
About Mandalay Resources Corporation:
Mandalay Resources is a Canadian-based natural resource company with producing
assets in Australia, Sweden and producing and exploration projects in Chile. The
Company is focused on executing a roll-up strategy, creating critical mass by
aggregating advanced or in-production gold, copper, silver and antimony projects
in Australia, the Americas and Europe to generate near-term cash flow and
shareholder value.
Forward-Looking Statements:
This news release contains "forward-looking statements" within the meaning of
applicable securities laws, including statements regarding expected exploration
results and increases to resources and reserves. Readers are cautioned not to
place undue reliance on forward-looking statements. Actual results and
developments may differ materially from those contemplated by these statements
depending on, among other things, changes in commodity prices and general market
and economic conditions. The factors identified above are not intended to
represent a complete list of the factors that could affect Mandalay. A
description of additional risks that could result in actual results and
developments differing from those contemplated by forward-looking statements in
this news release can be found under the heading "Risk Factors" in Mandalay's
annual information form dated March 31, 2017, a copy of which is available under
Mandalay's profile at www.sedar.com. In addition, there can be no assurance that
any inferred resources that are discovered as a result of additional drilling
will ever be upgraded to proven or probable reserves. Although Mandalay has
attempted to identify important factors that could cause actual actions, events
or results to differ materially from those described in forward-looking
statements, there may be other factors that cause actions, events or results not
to be as anticipated, estimated or intended. There can be no assurance that
forward-looking statements will prove to be accurate, as actual results and
future events could differ materially from those anticipated in such statements.
Accordingly, readers should not place undue reliance on forward-looking
statements.
Accompanying Drill Summary Tables:
Table 1: Björkdal H1 2017 drilling summary
CATEGORY Metres No. of Holes AREA Metres No. of Holes
Infill 5,622 27 Underground Main and 5,421 25
Central Zone
Extension 8,018 39 Underground Lake Zone 4,768 18
North
Target Test 0 Open Pit 3,451 23
13,640 66 13,640 66
Table 2: Björkdal underground extensional drilling results
Significant new underground core-drilling intercepts from extensional drilling.
Note: only intercepts displayed with Au grade greater than resource cut-off
grade (i.e. greater than underground resource cut-off grade once diluted to
minimum mining width of 3 metres). Drill holes labelled with italics and "*" are
skarn-hosted intercepts.
Hole Total Intercept Intercept Intercept Drilled Intercept True Au
Completion Hole Easting Northing RL Width Angle Width Grade
Hole Date Depth (Mine (Mine (Mine (m) (degree) (m) (g/t)
ID (m) Grid) Grid) Grid)
MU6- 08/01/2017 425.8 1787.498 1413.9 -376.732 1 53 0.76 6.62
056
MU6- 1839.244 1381.508 -417.335 1.35 46 0.93 3.25
056
MU6- 1932.742 1312.574 -495.203 0.4 65 0.34 12.90
056
MU6- 1939.954 1306.791 -501.348 0.5 66 0.43 19.90
056
MU6- 1947.495 1300.68 -507.79 0.5 68 0.44 6.66
056
MU6- 1977.948 1275.375 -534.029 0.9 28 0.37 10.90
056
MU6- 1981.479 1272.401 -537.064 0.35 54 0.25 75.20
056
MU6- 1987.25 1267.53 -542.006 1 N/A 2.99
056
MU6- 19/11/2016 360 1741.766 1362.736 -397.62 1 N/A 7.02
062B
MU6- 1752.195 1471.121 -455.173 0.65 47 0.43 29.60
062B
MU6- 1762.741 1565.771 -503.546 1 N/A 20.20
062B
MU6- 05/11/2016 368.85 1741.826 1331.859 -376.674 0.8 40 0.47 12.45
063
MU6- 1757.374 1384.879 -398.062 4.5 65 4.05 4.69
063
MU6- 02/12/2016 371.3 1827.702 1523.897 -493.954 2 N/A 3.00
064
MU6- 1839.071 1549.513 -508.003 1.1 N/A 2.49
064
MU6- 20/12/2016 299.9 1769.494 1343.963 -375.715 0.45 55 0.33 16.30
066
MU6- 1776.555 1340.798 -378.272 0.45 65 0.38 7.82
066
MU6- 1845.415 1308.012 -404.855 1.1 N/A 2.92
066
MU6- 1983.533 1254.474 -459.286 0.4 N/A 6.54
066
MU6- 1997.045 1249.595 -464.549 0.5 59 0.40 25.20
066
MU6- 14/12/2016 289.8 1788.086 1328.791 -377.312 0.7 67 0.62 114.00
067
MU6- 1879.828 1263.105 -394.558 1 N/A 114.00
067
MU6- 1957.741 1202.092 -411.012 0.35 60 0.27 10.10
067
MU6- 05/01/2017 334 1811.246 1375.92 -407.466 1 N/A 3.72
068
MU6- 1895.604 1246.547 -468.29 0.3 62 0.24 45.20
068
MU6- 1898.868 1240.906 -470.775 0.85 68 0.75 6.29
068
MU6- 1907.14 1226.295 -477.191 0.4 69 0.35 38.00
068
MU6- 1909.549 1221.967 -479.079 0.8 58 0.64 4.14
068
MU6- 29/11/2016 311.8 1718.824 1506.92 -433.676 0.6 51 0.43 6.73
069
MU6- 1716.168 1523.545 -443.366 0.45 73 0.41 22.60
069
MU6- 1716.589 1530.003 -445.899 3.45 68 3.17 16.16
069
MU6- 1723.273 1607.883 -474.993 0.9 N/A 6.38
069
MU6- 12/12/2016 340.4 1714.006 1374.881 -381.108 7 N/A 7.99
070
MU6- 1720.978 1437.457 -424.775 0.25 69 0.21 18.70
070
MU6- 1741.021 1564.173 -502.624 0.85 35 0.44 19.80
070
MU6- 1744.442 1581.601 -512.3 1 N/A 42.80
070
MU6- 1754.051 1627.992 -537.043 2.1 79 2.05 3.37
070
MU6- 21/12/2016 350.3 1739.422 1439.671 -413.75 0.75 N/A 6.24
071
MU6- 1750.379 1467.493 -426.922 0.4 31 0.15 21.60
071
MU6- 18/11/2016 599.5 1430.577 1675.934 -446.524 0.6 42 0.35 17.85
072
MU6- 1437.989 1698.592 -460.826 0.4 47 0.25 18.45
072
MU6- 1497.714 1854.884 -550.758 2.55 32 1.30 1.94
072
MU6- 1506.72 1875.128 -561.095 0.35 33 0.14 25.30
072
MU7- 14/01/2017 377.6 1824.955 1383.995 -414.309 1.75 45 1.2 2.05
001
MU7- 1832.121 1378.609 -418.685 0.9 53 0.7 8.61
001
MU7- 1842.647 1370.509 -425.1 1.6 N/A 7.93
001
MU7- 1896.033 1326.777 -456.425 1 57 0.8 3.04
001
MU7- 1939.963 1287.573 -480.587 0.3 71 0.26 30.90
001
MU7- 1968.374 1260.845 -495.396 0.25 54 0.16 93.20
001
MU7- 1977.574 1251.836 -500.147 7.1 81 7 2.02
001
MU7- 1987.39 1241.938 -505.264 5.1 26 2.18 1.66
001
MU7- 2012.844 1214.602 -518.928 3.05 77 2.96 7.92
001
MU7- 19/01/2017 270.01 1866.588 1223.837 -349.876 0.5 45 0.31 20.60
002
MU7- 1864.349 1266.938 -370.305 1.2 N/A 5.57
002
MU7- 1862.518 1306.287 -389.282 1.35 60 1.14 2.90
002
MU7- 1860.959 1351.482 -411.306 0.85 67 0.76 3.93
002
MU7- 1859.667 1424.56 -447.305 2 53 1.56 1.79
002
MU7- 09/06/2017 251.8 1386.102 1714.776 -455.691 6.3 28 2.9 18.01
030
MU7- 31/05/2017 265.7 1397.277 1708.159 -437.563 5.4 39 3.35 27.88
031
MU7- 1407.144 1733.875 -446.951 0.8 57 0.64 4.59
031
MU7- 1446.028 1828.25 -478.483 0.5 41 0.28 9.64
031
MU7- 04/05/2017 291 1519.263 1586.389 -421.277 3.8 25 1.55 2.24
033
MU7- 1519.715 1601.397 -427.358 12.8 54 10.32 21.70
033
MU7- 1520.445 1622.041 -435.825 3.45 40 2.17 1.42
033
MU7- 17/05/2017 389 1520.129 1588.872 -425.564 3.05 26 1.28 10.547
034
MU7- 1533.653 1700.021 -511.05 0.7 46 0.46 7.98
034
MU7- 1536.174 1719.395 -525.751 0.4 53 0.28 10.3
034
MU7- 1559.817 1884.95 -648.916 1 81 0.98 4.66
034
MU7- 01/06/2017 375 1522.302 1593.006 -430.086 0.7 21 0.19 18.30
035
MU7- 1530.44 1626.838 -460.095 1 25 0.37 9.13
035
MU7- 1539.078 1661.131 -490.249 0.95 31 0.43 9.00
035
MU7- 1551.922 1708.887 -531.696 1 21 0.30 13.50
035
MU7- 1571.396 1775.828 -589.123 1.15 31 0.54 6.13
035*
MU7- 1577.136 1794.894 -605.333 1 N/A 2.54
035*
MU7- 1590.231 1837.95 -641.92 3 N/A 2.47
035*
MU7- 20/05/2017 350.8 1580.338 1632.394 -498.678 2.75 42 1.79 1.73
036
MU7- 1574.824 1672.071 -528.974 0.8 52 0.59 26.85
036
MU7- 28/04/2017 217.4 1606.82 1537.132 -416.557 0.6 67 0.53 5.59
037
MU7- 1611.089 1611.888 -451.9 1 25 0.37 6.60
037*
MU7- 1612.087 1629.067 -459.955 29 25 12.20 26.99
037*
MU7- 07/05/2017 343.8 1626.061 1642.152 -516.151 2.45 44 1.66 5.29
038
MU7- 1629.399 1661.203 -531.833 11.75 50 8.96 2.29
038
Table 3: Björkdal underground infill drilling results
Significant new underground core-drilling intercepts from infill drilling. Note:
Only intercepts included with Au grade that is greater than resource cut-off
grade (i.e. greater than underground resource cut-off grade once diluted to
minimum mining width of 3 metres).
Hole Total Intercept Intercept Intercept Drilled Intercept True Au
Completion Hole Easting Northing RL Width Angle Width Grade
Hole Date Depth (Mine (Mine (Mine (m) (degree) (m) (g/t)
ID (m) Grid) Grid) Grid)
MU7- 30/01/2017 335.1 1846.703 1179.6 -400.478 1 N/A 2.55
004
MU7- 08/02/2017 376 1896.943 1194.468 -351.859 0.35 57 0.26 10.6
005
MU7- 1975.912 1150.358 -377.229 0.65 51 0.47 7.24
005
MU7- 1986.196 1144.33 -380.644 1.35 71 1.26 2.28
005
MU7- 2023.949 1121.674 -393.32 1 N/A 634.00
005
MU7- 2121.92 1058.502 -428.071 3.1 50 2.33 5.72
005
MU7- 23/02/2017 271.6 1898.314 1195.12 -353.543 0.3 54 0.21 738
007
MU7- 06/02/2017 301.25 1894.748 1156.804 -413.354 0.4 26 0.12 29.9
008
MU7- 16/02/2017 252 1813.792 1376.136 -421.646 1.5 50 1.12 204.88
009
MU7- 20/02/2017 270 1955.253 1099.576 -340.695 0.5 55 0.37 132.00
011
MU7- 1980.936 1085.876 -360.705 0.95 45 0.63 21.55
011
MU7- 1998.354 1075.954 -374.704 0.65 51 0.47 31.60
011
MU7- 2021.441 1062.039 -393.738 0.65 61 0.54 77.20
011
MU7- 2033.239 1054.581 -403.66 8.9 51 6.88 2.10
011
MU7- 23/02/2017 150.4 2048.184 1016.739 -388.607 0.65 61 0.54 47.4
012
MU7- 2034.575 1024.096 -395.835 2.4 57 1.98 2.93
012
MU7- 06/04/2017 291.7 1873.58 1222.569 -434.781 0.9 37 0.49 5.19
013
MU7- 1865.567 1247.085 -457.392 2.6 50 1.95 4.70
013
MU7- 15/04/2017 224.8 1870.76 1147.178 -385.949 0.8 39 0.45 10.1
015
MU7- 15/03/2017 290 1933.282 1262.917 -480.271 0.55 49 0.37 22.8
016B
MU7- 1935.746 1260.086 -482.211 0.8 51 0.58 4.24
016B
MU7- 1943.905 1250.624 -488.639 0.8 51 0.58 5.87
016B
MU7- 24/03/2017 311.1 1820.236 1305.575 -417.048 0.75 85 0.74 63.1
017
MU7- 1824.181 1294.782 -422.031 1 N/A 8.68
017
MU7- 1836.648 1259.058 -438.457 0.4 73 0.36 9.15
017
MU7- 17/04/2017 176.43 1337.556 1681.1 -368.273 1.3 72 1.22 2.65
019
MU7- 11/03/2017 132.2 1380.474 1671.151 -423.877 1.05 N/A 2.35
020
MU7- 1378.622 1691.647 -435.882 1.10 43 0.7 4.09
020
MU7- 1377.411 1705.943 -444.282 3.75 35 2.10 5.37
020
MU7- 1376.9 1712.455 -448.118 0.50 67 0.44 31.20
020
MU7- 1373.91 1762.628 -477.604 2.05 54 1.62 2.04
020
MU7- 1373.265 1779.263 -487.368 1.45 48 1.04 11.54
020
MU7- 16/03/2017 161.9 1366.773 1734.506 -491.879 2.15 44 1.45 1.81
021
MU7- 1359.85 1777.309 -536.403 0.95 N/A 5.32
021
MU7- 20/03/2017 161.7 1341.436 1733.652 -496.817 1.1 20 0.32 9.77
022
MU7- 24/04/2017 140 1748.02 1443.057 -418.291 0.3 38 0.13 47.2
024
MU7- 25/03/2017 180.22 1259.047 1651.169 -421.352 1.6 N/A 3.87
025
MU7- 1236.075 1712.466 -435.007 2.75 39 1.68 4.55
025
MU7- 29/03/2017 220.5 1251.417 1651.545 -431.202 1.1 72 1.03 3.79
026
MU7- 03/04/2017 203.85 1270.764 1618.071 -416.621 0.65 N/A 7.24
027
MU7- 1261.567 1626.647 -425.07 1.15 78 1.11 7.29
027
Table 4: Björkdal significant new open pit core-drilling (MP-7 series) and
reverse circulation (MR-7 series) intercepts from extensional drilling
Note: only Au grade is displayed that is greater than resource cut-off grade
(i.e. greater than underground resource cut-off grade once diluted to minimum
mining width of 2 metres). Drill holes labelled with italics and "*" are skarn
intercepts.
Hole Total Intercept Intercept Intercept Drilled Intercept True Au
Completion Hole Easting Northing RL Width Angle Width Grade
Hole Date Depth (Mine (Mine (Mine (m) (degree) (m) (g/t)
ID (m) Grid) Grid) Grid)
MP7- 05/04/2017 334.7 1177.216 1103.243 -147.036 1 74 0.94 0.59
001*
MP7- 1175.349 1071.053 -178.425 1 70 0.92 0.38
001*
MP7- 1174.308 1053.506 -195.348 0.8 52 0.59 3.81
001
MP7- 1173.974 1048.026 -200.604 1 43 0.64 1.11
001
MP7- 1163.788 923.028 -312.084 0.8 10 0.08 0.66
001
MP7- 28/04/2017 207 1103.665 1091.724 -106.725 0.25 70 0.21 0.49
002
MP7- 15/05/2017 123 1154.536 970.694 -158.279 4.75 55 3.85 1.04
003
MP7- 1154.689 973.191 -161.073 1.25 45 0.84 0.32
003
MP7- 1155.179 979.876 -168.561 0.65 70 0.59 0.80
003
MP7- 1155.431 982.781 -171.822 0.3 52 0.2 4.40
003
MP7- 1155.721 985.867 -175.288 4.9 33 2.62 1.58
003
MP7- 1156.091 989.616 -179.5 1 18 0.25 2.35
003
MP7- 1158.025 1007.084 -199.132 0.9 19 0.23 3.78
003
MP7- 13/04/2017 206 1125.888 1004.607 -197.756 0.6 11 0.05 0.63
005
MP7- 1126.304 1000.981 -201.318 0.4 69 0.35 54.40
005
MP7- 12/05/2017 195 1070.101 1038.092 -157.083 1.2 33 0.6 0.62
006*
MP7- 1071.873 1057.457 -181.513 2.75 47 1.97 1.93
006
MP7- 01/05/2017 210 1030.711 1030.437 -162.227 2.15 33 1.12 4.74
007
MP7- 1027.451 1035.466 -169.758 2.5 54 1.99 0.71
007*
MP7- 1022.124 1043.992 -182.333 0.4 56 0.3 0.30
007
MP7- 1017.632 1051.529 -193.21 0.45 43 0.26 1.84
007
MP7- 1014.888 1056.301 -199.98 1 40 0.59 0.58
007
MP7- 1006.864 1071.043 -220.324 0.55 29 0.21 0.57
007
MP7- 23/04/2017 284 960.193 946.619 -134.539 0.3 53 0.2 0.49
008
MR7- 26/05/2017 160 1258 978.38 -139.131 8 0.67
001*
MR7- 1260.203 1008.328 -179.731 1 0.45
001
MR7- 1260.336 1010.459 -182.505 2 0.96
001
MR7- 1260.755 1017.563 -191.538 1 0.48
001
MR7- 1260.9 1020.067 -194.654 1 0.40
001
MR7- 1260.972 1021.327 -196.206 1 0.57
001
MR7- 1261.529 1034.088 -211.594 1 0.37
001
MR7- 27/05/2017 150 1238.994 975.585 -133.403 1 10.90
002*
MR7- 1233.989 1013.096 -173.31 5 5.39
002
MR7- 1232.394 1024.34 -185.28 2 3.15
002
MR7- 1231.245 1032.197 -193.599 1 0.57
002
MR7- 1228.933 1048.104 -210.048 1 0.85
002
MR7- 06/06/2017 105 1116.65 938.584 -147.02 1 0.43
003
MR7- 1116.271 942.496 -151.554 1 0.61
003
MR7- 1115.376 953.021 -164.228 2 0.40
003
MR7- 30/05/2017 110 1069.322 897.567 -124.853 1 3.11
004
Table 5: Costerfield H1 2017 drilling summary
CATEGORY Metres No. Holes ZONE Metres No. Holes
Infill 3,013 16 Brunswick 12,018 60
Extension 2,507 28 Costerfield 2,063 4
New Target Opportunistic (including N
Testing 12,969 58 Lode, Alison south and K 3,580 33
Lode)
18,489 102 Augusta East 828 5
18,489 102
Table 6: Brunswick lode significant intercepts
Hole Total Intercept Intercept Intercept Drilled True Au Sb
Hole ID Completion hole Easting Northing Elevation Width Width Grade Grade AuEq Target
Date Depth (Mine (Mine (Mine (m) (m) (g/t) (%) (g/t)
(m) Grid) Grid) Grid)
BD291 6/06/2017 200.8 14660 5155 1084 2.07 1.56 2.7 0.6 3.9 Brunswick
South
BD274W1 20/03/2017 31.5 14678 5234 1088 1.27 0.83 6.5 3.1 13.1 Brunswick
South
BD289 8/06/2017 250.7 14678 5242 1056 0.82 0.63 17.4 4.7 27.4 Brunswick
South
BD272 9/03/2017 224.4 14683 5303 1070 0.93 0.72 10.7 5.8 23.0 Brunswick
South
BD275 20/04/2017 326.8 14681 5303 1032 1.85 1.60 2.0 1.3 4.7 Brunswick
South
BD271 28/02/2017 249.0 14698 5355 1078 1.62 1.15 7.9 2.0 12.1 Brunswick
South
BD276 27/03/2017 170.1 14697 5356 1117 2.29 1.75 3.3 0.0 3.3 Brunswick
South
BD277 7/04/2017 311.6 14700 5406 1028 2.30 1.48 2.5 0.1 2.6 Brunswick
South
BD280 8/05/2017 458.1 14766 5714 951 0.43 0.25 9.8 3.8 17.9 PK Panel
BD282B 19/04/2017 380.3 14773 5738 959 1.63 1.29 5.4 4.5 14.9 PK Panel
BD283 30/03/2017 350.2 14781 5766 994 2.21 1.82 1.6 15.9 35.4 PK Panel
BD278W2 28/04/2017 29.4 14785 5790 967 4.82 2.01 24.4 6.1 37.4 PK Panel
BD284W2 24/05/2017 15.0 14744 5794 902 1.42 1.40 1.8 0.2 2.3 KR Panel
BD284 12/04/2017 440.9 14785 5801 945 3.47 2.23 3.9 1.1 6.1 PK Panel
BD269W3 3/03/2017 267.9 14748 5822 892 1.99 1.32 1.9 6.1 14.8 KR Panel
BD285 22/03/2017 392.9 14774 5860 937 3.07 0.79 14.7 3.1 21.4 Kiwi
Fault
BD285 22/03/2017 392.9 14753 5862 915 1.22 1.00 12.4 3.4 19.6 KR Panel
BD266 16/02/2017 264.8 14811 5878 1012 2.20 1.82 10.2 3.7 18.1 Brunswick
Main
BD296 11/06/2017 419.4 14759 5896 910 2.11 1.73 2.6 1.3 5.4 KR Panel
BD293 29/05/2017 410.1 14798 5906 948 1.54 0.88 2.9 0.5 3.8 PK Panel
BD273W1 12/03/2017 26.7 14763 5945 890 3.35 1.73 0.5 2.5 5.8 KR Panel
BD268 17/01/2017 395.4 14771 5955 932 2.20 1.56 9.3 2.5 14.6 KR Panel
BD297 23/06/2017 432.1 14771 5974 902 2.70 1.74 8.8 0.0 8.8 KR Panel
Note:
- Raw, undiluted assay intervals are reported that occur within diluted
intervals that contain greater than 1 AuEq g/t over a minimum mining width of
1.8 m.
- True width is preliminary estimate only and may not reflect final true width
used in resource estimation
- AuEq (g/t) = Au (g) + Sb (%) x (Price per 10 Sb(kg) × Sb Recovery(%))/(Price
per 1 Au(g) × Au Recovery (%))
Table 7: Costerfield lode significant intercepts
Hole Total Intercept Intercept Intercept Drilled True Au Sb
Hole ID Completion hole Easting Northing Elevation Width Width Grade Grade AuEq Target
Date Depth (Mine (Mine (Mine (m) (m) (g/t) (%) (g/t)
(m) Grid) Grid) Grid)
BC007w1 5/06/2017 779.5 15394 6700 857 0.12 0.12 0.1 13.2 28.2 Kendal
Extension
BC007w1 5/06/2017 779.5 15260 6767 805 0.32 0.09 3.4 6.0 16.3 Costerfield
LQ
BC006w1 8/06/2017 250.7 15362 6979 828 1.01 0.56 59.8 3.2 66.7 Costerfield
LQ
Note:
- True width is preliminary estimate only and may not reflect final true width
used in resource estimation
- AuEq (g/t) = Au (g) + Sb (%) x (Price per 10 Sb(kg) × Sb Recovery(%))/(Price
per 1 Au(g) × Au Recovery (%))
Table 8: Opportunistic drilling significant intercepts
Hole Total Intercept Intercept Intercept Drilled True Au Sb
Hole ID Completion hole Easting Northing Elevation Width Width Grade Grade AuEq Target
Date Depth (Mine (Mine (Mine (m) (m) (g/t) (%) (g/t)
(m) Grid) Grid) Grid)
KD338 15/12/2016 28.0 15309 4649 1050 0.07 0.06 12.6 11.3 36.7 K Lode
KD345 27/01/2017 31.5 15325 4665 1087 0.23 0.12 28.2 20.3 71.5 K Lode
KD340 21/12/2016 33.3 15316 4678 1075 0.43 0.40 26.1 17.4 63.2 K Lode
KD364 8/03/2017 9.5 15329 4681 1098 0.30 0.29 26.6 6.6 40.7 K Lode
KD339 19/12/2016 31.2 15307 4681 1056 0.14 0.13 22.6 9.0 41.7 K Lode
KD354 22/02/2017 35.1 15315 4686 1077 0.90 0.70 35.8 21.7 82.1 K Lode
KD356 28/02/2017 30.5 15316 4709 1072 0.71 0.40 45.6 20.9 90.2 K Lode
KD357 6/03/2017 57.1 15321 4715 1085 0.35 0.22 13.4 10.9 36.6 K Lode
KD369 7/04/2017 78.9 15299 4729 1060 0.35 0.25 24.1 11.8 49.3 K Lode
KD370 14/04/2017 84.0 15306 4744 1081 0.78 0.46 11.5 6.2 24.8 K Lode
AD168 30/01/2017 116.8 15172 4793 1014 0.36 0.35 71.1 0.5 72.1 Alison
South
AD170W1 9/02/2017 80.2 15173 4810 1009 0.25 0.25 36.7 2.9 42.8 Alison
South
MH407W1 5/07/2017 122.3 15344 4790 1105 0.97 0.58 4.4 7.6 20.6 N Lode
Upper
MH406 27/03/2017 279.1 15376 4401 1008 0.30 0.21 18.8 13.3 47.2 N Lode
Upper
Note:
- Raw, undiluted assay intervals are reported that occur within diluted
intervals that contain greater than 1 AuEq g/t over a minimum mining width of
1.8 m.
- True width is preliminary estimate only and may not reflect final true width
used in resource estimation
- AuEq (g/t) = Au (g) + Sb (%) x (Price per 10 Sb(kg) × Sb Recovery(%))/(Price
per 1 Au(g) × Au Recovery (%))
Table 9: Challacollo pump test results
Hole Water Level Pumping test Total Length Aquifer
(m) (l/s) (m)
LWH-01 45 14 l/s 102 Sand, gravel and clays
LWH-02 36 28 l/s 96.5 Gravel with Coarse sand, no clays
LWH-03 45 6 l/s 91.5 Gravel with Coarse sand - clays
LWH-04 57 7 l/s 126.50 Gravel with Coarse sand - clays
and gypsum
For further information:
Mark Sander
Chief Executive Officer
Greg DiTomaso
Investor Relations
Contact
647.260.1566
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Mandalay Resources Corporation via GlobeNewswire
Unternehmensinformation / Kurzprofil:
Datum: 24.07.2017 - 13:30 Uhr
Sprache: Deutsch
News-ID 553578
Anzahl Zeichen: 48331
contact information:
Town:
Toronto
Kategorie:
Business News
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"Mandalay Resources Provides Exploration Results for the First Half of 2017"
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