- Manhattan Corporation (MHC) receives high-grade results from aircore drilling at the New Bendigo prospect in New South Wales
- Over 10,300 metres of drilling has been completed at the prospect’s “Main Zone” area to determine the structural controls of mineralisation
- The results, which include grades of up to 7.63g/t gold, suggest the cross-cutting controls are orientated in a northerly direction
- Manhattan plans to follow this up with a 5000-metre drilling program
- Company shares ended the day 16.7 per cent in the green to close at 1.4 cents
Manhattan Corporation (MHC) has received results from aircore drilling at the New Bendigo prospect within the Tibooburra Gold Project in New South Wales.
The company drilled 171 holes, for over 10,300 metres, at New Bendigo’s “Main Zone” which is a northwest-trending gold mineralised regional shear zone.
Aircore drilling aimed to determine the structural controls of high-grade gold mineralisation previously intersected by reverse circulation (RC) drilling.
Best results include 12 metres at 2.78 grams of gold per tonne (g/t) from surface including four metres at 7.63g/t gold and eight metres at 1.78g/t gold from surface including four metres at 3.29g/t gold.
Prior to this drilling, Manhattan believed mineralisation is associated with north-northeast to northeast-trending faulting. However, the latest results suggest the cross-cutting controls are orientated in a northerly direction.
This interpretation opens the higher-grade controls for additional drill testing along the whole strike extent of the Main Zone and potentially the Western Lode’s mineralised systems.
Company CEO, Kell Nielsen, was pleased with what the latest results have revealed.
“MHC has always believed. that there is sufficient material at the New Bendigo Main Zone to cornerstone a near surface resource; for us it was about lifting the grade and accessing similar mineralisation to that historically mined.”
Manhattan will follow the results up with a 5000-metre RC drilling program which is expected to begin after it receives the relevant approvals in late July.
In addition to the New Bendigo drilling, MHC recently conducted drilling at the Jefferies Flat, Sandy Well and North Sandy Well, and the New Bendigo Southern Zone with majority of the assays pending.
Company shares ended the day 16.7 per cent in the green to close at 1.4 cents.