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- Impressive HM grades returned from ongoing resource upgrade and expansion drilling
- High-grade mineralisation continues to be reported across the deposit
- Strong mineralisation intersected in south-eastern extension area
- Results continue to delineate broad zones of heavy mineral mineralisation
McLaren Minerals (ASX:MML) has obtained further high-grade assay results from its ongoing 13,000m mineral resource upgrade and expansion drilling campaign at its namesake titanium project in Western Australia.
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The results include very high grades of up to 34.6% heavy mineral (HM) and promising results from a newly identified south-eastern extension area.
Around 435 assays assessed were obtained from drilling completed in the northern section of the deposit and have continued to confirm broad zones of heavy mineral mineralisation and support the company’s current geological model.
MD, Simon Finnis, said the drilling program is designed to increase confidence in the company’s existing 529 million tonne (Mt) mineral resource and support future ore reserve estimation and bankable feasibility study (BFS) activities, and assess opportunities for resource growth.
“High grades are always pleasing to see, but the consistency of mineralisation across McLaren is what continues to give us confidence in the project,” he said.
“The drilling is doing exactly what it was designed to do by increasing confidence in the existing Resource and improving our understanding of the continuity of mineralisation across the deposit.
“We are also starting to define a broader area of higher-grade mineralised sands in the north- west of the deposit, with many assays still to come. While there is still more work to do, that is encouraging and could bode well for the first few years of mining.”
Mr Finnis said the initial results from the south-eastern extension area are particularly encouraging.
“The first holes have intersected strong mineralisation and, importantly, we have already completed follow-up drilling in that area. We now look forward to receiving those results and understanding the broader significance of this emerging extension.
“One thing that should not be overlooked is that all of the intersections reported today commence from surface. That is one of the reasons we like McLaren so much and why we continue to be encouraged by its development potential.”
Strong mineralisation intersected in the south-eastern extension area outside the current indicated resource footprint, includes 22m from surface at 7.62% HM with a maximum grade 30.65% HM from 19m to 20m.
McLaren is preparing to commence variability and metallurgical test work programs to support future development studies.
MML is steady at 1.3¢. Mkt cap $5.927M.
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