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- Phase two drilling to test extents of Burbanks underground mineralisation
- Burbanks underground not included in current Black Swan Processing Hub LOM plan
- Recent assays return further high-grade intercepts
- Burbanks’ MRE update from Phase one to be completed in current September quarter
Maritana Minerals (ASX: MRT) has identified depth potential from the now completed Phase two resource definition drilling at the Burbanks gold project, located nine km south of Coolgardie in the WA Goldfields.
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Drilling focused on an area known as Main Lode, combining infill drilling of the current mineral resource and testing extensions to mineralisation.
The majority of the drill program was undertaken by collaring holes from neighbouring tenements held by Auric Mining to improve intercept angles.
Phase two drilling comprised 20 holes for a total of approximately 6,400m and follows the initial Phase one drilling of 53 holes for a total of 15,798m.
“Phase two drilling has successfully extended the high-grade mineralised footprint at depth below the Main Lode, with consistent intercepts confirming continuity of the Burbanks shear,” MD and CEO, Grant Haywood, said.
“The ongoing success of the drilling program continues to de-risk the project and enhance development potential. Burbanks Underground is firming as a new potential source of feed for Maritana’s 100% owned Black Swan Processing Hub to enhance and extend our existing LOM plan.”
Recent assays have returned further high-grade intercepts with significant intervals including 0.48m at 25.19 grams per tonne (g/t) from 224.63m, and 0.76m at 9.02 g/t from 231.42m, including 0.38m at 16.41 g/t from 231.42m.
Mr Haywood said these drilling results improve Maritana’s understanding of the mineralised host lithology, orebody continuity, structural controls and the potential for extension beyond the current global Burbanks MRE.
“Additionally, the drilling will support the conversion of a portion of Inferred resources to Indicated, supporting future ore reserves.”
MRT was steady at 80.5¢ with a Mkt cap of $299.3M prior to markets opening.
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