- Manhattan Corporation (MHC) has struck up to 70.2 g/t gold through diamond drilling at the New Bendigo target within its Tibooburra gold project in New South Wales
- The company has received the final results from its program completed in July, which returned a broad intercept of 24 metres at 3.55 g/t gold from 82 metres
- Following the completion of its structural review of the area, Manhattan now plans to take on 1500 metres of follow-up drilling at New Bendigo
- In addition, the company is waiting on final approvals to drill test the Clone prospect, which lies just seven kilometres from the New Bendigo area
- Shares in Manhattan Corporation are up 14.29 per cent to 0.8 cents at 1:01 pm AEDT
Manhattan Corporation (MHC) has received the remaining results from a diamond drilling program at its Tibooburra gold project in New South Wales.
The company completed diamond drilling at New Bendigo’s Main Zone in July, which included four holes and two diamond tails of previous reverse circulation (RC) holes.
The drilling aimed to evaluate high-grade mineralisation believed to be associated with plunging veins and/or shoots.
The final batch of results included 24 metres at 3.55 grams per tonne (g/t) gold from 82 metres, including four metres at 20.11 g/t gold from 96 metres and one metre at 70.2 g/t gold from 96 metres.
Manhattan now plans to complete a further 1500 metres of RC drilling in the area, which will utilise a recently-completed structural review to define additional high-grade mineralisation.
The review and completion of diamond drilling at New Bendigo have reportedly given Manhattan greater confidence that the mineralised system comprised two styles of mineralisation.
These include a series of high-grade plunging veins and/or shoots, and a broad, low-grade system orientated within the region shear system.
In addition to this, the company is in the final stage of getting access to the Clone prospect so it can conduct initial RC drilling.
This drill testing is part of the broader RC program to be completed at New Bendigo, which lies just seven kilometres from Clone.
Manhattan expects to begin RC drilling at New Bendigo in November.
Shares in Manhattan Corporation were up 14.29 per cent to 0.8 cents at 1:01 pm AEDT.