- Manuka Resources (MKR) has discovered more high-grade gold beneath the Mt Boppy gold mine in New South Wales
- The company recently completed reverse circulation drilling to test for extensions of high-grade gold beneath the Mt Boppy pit shell
- Assays peaked at 7.14 and 7.48 grams per tonne of gold
- Pleasingly, the latest results are from 10 metres and 35 metres below the pit floor which confirms there’s high-grade mineralisation outside of the current pit shell
- Once the remaining assays have been received, they’ll support a resource update for the Wonawinta Project and a resource extension for Mt Boppy
- Manuka is up 4.55 per cent and shares are trading at 46 cents
Manuka Resources (MKR) has discovered more high-grade gold beneath the Mt Boppy gold mine in New South Wales.
The company has recently completed a reverse circulation (RC) drilling program to gain a better understanding of the mineralisation controls and potentially extend high-grade mineralisation.
Since late September, a total of 93 RC holes have been drilled for 3027 metres. Pleasingly, this drilling has increased Manuka’s confidence in the extent of high-grade gold mineralisation beneath the Mt Boppy design pit shell.
Best results include 24 metres at 6.36g/t gold from 48 metres, including 14 metres at 7.84g/t gold, 33 metres at 4.15g/t gold from 19 metres, including 28 metres at 4.42g/t gold, 11 metres at 5.27g/t gold from 44 metres and six metres at 7.14g/t gold from 62 metres.
The intercepts are between 10 metres and 35 metres below the current planned pit floor which confirms there’s high-grade mineralisation outside of the current pit shell.
These results build on previous assays which include 10 metres at 34.48g/t gold and 14 metres at 14.51g/t gold.
“Our initial plan at Mt Boppy was to mine and process the existing JORC reserve ounces through to Q2 FY21. However, with the grades we are seeing, the potential for resources extension at Mt Boppy is something we are now very focused on understanding further,” Executive Chairman Dennis Karp said.
Manuka is waiting on a large number of assays from the lab and once these have been received, they’ll support a resource update for the Wonawinta Project as well as a resource extension for Mt Boppy.
Manuka is up 4.55 per cent and shares are trading at 46 cents at 12:32 pm AEDT.