Source: Manhattan Corporation
The Market Online - At The Bell

Join our daily newsletter At The Bell to receive exclusive market insights

  • Manhattan Corporation (MHC) is continuing to intersect high-grade gold mineralisation at the Tibooburra Gold Project in northwest NSW
  • A total of 14 reverse circulation holes and one diamond precollar were drilled at the New Bendigo Main Zone to target additional mineralisation and the north-plunging shoots
  • The drilling has continued to successfully intersect significant shallow gold mineralisation with grades peaking at 10.3g/t gold
  • Manhattan expects to continue RC drilling until mid-2022 after which it will undertake a diamond drilling program
  • Shares in Manhattan are up 7.14 per cent on the market and are trading at 1.5 cents

Manhattan Corporation (MHC) is continuing to intersect high-grade gold mineralisation at the Tibooburra Gold Project in northwest NSW.

The 2200-square-kilometre Tibooburra Project covers a roughly 220-kilometre strike of significantly underexplored gold mineralisation.

A total of 14 reverse circulation (RC) holes and one diamond precollar were drilled, for a total of 1795 metres, at the New Bendigo Main Zone to target additional mineralisation and the north-plunging shoots along the zone.

The drilling has continued to successfully intersect significant shallow gold mineralisation often from or near surface.

Significant results so far include 63 metres at 1.33 grams of gold per tonne (g/t) from 24 metres including nine metres at 7.22g/t gold from 56 metres and one metre at 10.3g/t gold from 76 metres.

Manhattan expects to continue RC drilling until mid-2022 after which it will undertake a diamond drilling program.

The company will continue to test the extents of the Main Zone mineralised system which has the potential to host a significant shallow, high-grade gold resource.

Shares in Manhattan were up 7.14 per cent on the market and were trading at 1.5 cents at 11:16 am AEDT.

MHC by the numbers
More From The Market Online
The Market Online Video

ASX Daily Close: ASX matches futures prediction on a green Friday | 21 June 2024

The ASX200 reversed its trend to end the week in the green, up 0.35%. Nearly all…
The Market Online Video

ASX Market Update: Stocks swing from green with energy to remorseful red | 21 June, 2024

The ASX200 came out the gate in the green on Friday, but slipped well below the red line within the first hour of

Week 25 Wrap: No RBA cut yet; India stocks shake off Modi jitters; China concerns remain

The RBA keeps rates on pause; Guzman Gomez falls nearly -5% on Friday; Droneshield's new ATH;…

Plagues precede widespread power shifts. We’re living in one – and minerals are at the fore

The one defining feature of our post-COVID 'new normal' is a USA swing towards domestic supply…