Gold explorer Anglo Australian Resources has just released some stunning drilling results – including 64.57m at 3.49 g/t – from its Mandilla gold project in WA.
The best results from the 51 RC holes and two diamond holes include:
- 64.57m at 3.49g/t Au from 190m, 14.39m at 2.89g/t Au from 169.37m and 13.8m at 0.91g/t Au from 139.7m in MDRCD377;
- 30m at 4.76g/t Au from 84m in MDRC433;
- 37m at 3.07g/t Au from 89m and 20m at 1.15g/t Au from 38m in MDRC426; and
- 39m at 1.23g/t Au from 141m, 14m at 0.63g/t Au from 119m and 10m at 0.60g/t Au from 102m in MDRC427.
Importantly Anglo Australian Resources (ASX:AAR) found 42 observations of visible gold in MDRCD377 alone.
The company reckons the new results could grow the project’s maiden mineral resource estimate (MRE) it released in May of 15.6 million tonnes at 1.0 g/t gold for 500,400 ounces.
Pic: Visible gold in hole MDRCD377.
MRE update expected shortly
Managing director Marc Ducler said the company has the drive to build a resource base that will sustain a profitable gold mining business – with a MRE update expected in the current quarter.
“What’s exciting about these results is that 15 of the 21 holes drilled all came back with good mineralisation – so that’s an incredibly high success rate,” he said.
“And amongst this lot there’s some really wide high-grade intersections with three drill-holes returning over 100 gram metre intervals, which we expect to add significantly to the updated Resource Estimate in the coming weeks.
“In hole MRDC377 there’s 42 observations of visible gold ranging from 117m down the hole all the way to 247m. That’s a 130m zone of visible gold down that diamond hole,” Ducler said.
“That’s really exciting and something we want to build on.”
Aiming for 1 million ounces
Ducler said the company already has 500,000 ounces at Mandilla and 116,000 ounces at its Feysville project and believes there’s room to grow.
“We’re going to push our Resources to that million-ounce mark as quickly as we can,” he said.
“We’ve got 500,000 ounces at Mandilla and we expect that to grow significantly within the next couple of weeks.
“And we’re already at 116,000 ounces at Feysville and there’s absolutely no reason we won’t be able to find similar, if not bigger occurrences of mineralisation than we’ve already defined there.
“We think that’s a critical number to get to, to really drive our pre-feasibility studies.”
Another 55,000m of drilling planned
The company has more drilling at Mandilla planned to try to reach its resource target with RC and diamond drilling scheduled for August, and aircore drilling planned to commence in the December quarter.
“We’re looking to get back into drilling again this quarter with another 55,000m planned between now and the end of FY2022,” Ducler said.
At its Feysville project, diamond drilling is expected to commence late in the current quarter, with RC drilling commencing soon after and aircore drilling in the December quarter.
This article was developed in collaboration with Anglo Australian Resources, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.