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    Mandalay Resources Reports High-Grade Antimony and Gold Intercepts, Advancing Costerfield Resource Expansion

    TORONTO, Sept. 10, 2024 /PRNewswire/ -- Mandalay Resources Corporation ("Mandalay" or the "Company") (TSX: MND) (OTCQB: MNDJF) is pleased to provide an update on drilling progress at its Costerfield operation in Victoria, Australia.

    New Drilling Highlights:

    • Extension and Infill drilling on Shepherd and Kendall veining provides confidence on extension with intercepts including:  
      • 751.7 g/t gold and 1.8% antimony over 0.22 m (ETW 0.21 m) in PD142;
      • 291.3 g/t gold over 1.26 m (ETW 0.53 m) in PD175;
      • 547.3 g/t gold over 0.86 m (ETW 0.75 m) in KD907;
      • 107.0 g/t gold over 0.55 m (ETW 0.40 m) in PD114 and;
      • 33.4 g/t gold and 31.4% antimony over 1.00 m (ETW 0.67 m) in BC399
    • Drilling under Cuffley to the south of Costerfield indicates an exciting emerging area:  
      • 550.0 g/t gold over 0.15 m (ETW 0.12 m) in AD213 and;
      • 58.4 g/t gold and 17.6% antimony over 0.77 m (ETW 0.55 m) in AD203
    • Drilling to the north of Cuffley also intercepts high-grade mineralization and a possible extension of the Cuffley system:
      • 17.1 g/t gold and 0.3% antimony over 1.20 m (ETW 1.12 m) in CB001 and;
      • 4.0 g/t gold and 20.2% antimony over 0.45 m (ETW 0.34 m) in TP021

    Note: Further intercept details including significant intercepts within composite intervals can be found in the appendix to this press release.

    Chris Davis, VP of Exploration and Operational Geology, commented:

    "For the last 15 years, Mandalay has successfully produced gold and antimony from its Costerfield mine, with standout periods of exceptional production, especially in the last five years from Youle and Shepherd. Through innovative practices, Mandalay has demonstrated the potential for sustained ongoing reserve replacement. In 2024, the Company's primary focus has been on the continued development of near-mine targets to extend mine life and leverage existing infrastructure.

    "Drilling activities near Youle and Shepherd have increased our confidence in immediately surrounding areas that contain pods of high-grade mineralization and are expected to be added to the production schedule.  

    "Additionally, veins located below the highly profitable Cuffley deposit, which were previously underdeveloped due to the success at Youle, have shown high-grade potential. In 2024, the objective is to define enough mineral resource to justify extending the mine at depth.

    "The Cuffley Deeps drilling has also been successful, with further exploration at Cuffley North intersecting a high-grade vein along strike of Cuffley, indicating the potential presence of additional mineable areas. This discovery also suggests the potential to further extend the northern areas of the Augusta and Brunswick deposits."

    2024 Costerfield Near Mine Focus

    During 2024, near mine exploration has focused on building mineral resources and reserves around the immediate mining fronts of Youle and Shepherd, while also testing the significant potential beneath and around the Augusta and Cuffley system to the south.

    To the north, infill and extensional drilling of Shepherd has provided further certainty of the system whilst extending the potential of the westernmost vein sets. Above Youle, the Kendall system has been historically mined, however recent drilling suggests there is still significant mineralization left undisturbed between the two mining areas.

    At the end of 2023, the focus of resource extension testing moved from Brunswick Deeps to Cuffley as the depth potential of the system became apparent with the success of two initial testing holes to the south of the Cuffley Deeps panel. Mandalay recognized the potential for depth extension and repetition of ore shots and therefore redirected its exploration efforts. Consequently, significant intercepts have been returned at depth within the Cuffley Deeps South area, the Cuffley North area and Cuffley West (Figure 1).

    Figure 1. Perspective representation looking west of the Costerfield mine workings and major veining. Veining unchanged during 2024 in red and discovered or updated veining in varied colours to link with below long sections.

    Shepherd and Kendall Extensions

    Since the last exploration update (November 2023), 133 diamond drill holes totalling 13,040 m have been drilled in the Shepherd and Kendall areas.

    Within Shepherd, the drilling and subsequent geological reinterpretation has provided important insight including the significance of bedding-parallel laminated quartz faults as grade-controlling features. This dynamic has also been demonstrated during mining and integrated into the geological vein model enabling Mandalay to target further areas of potential upgrades near these interactions.

    Much of the extension work at Shepherd has concentrated on delineating the westernmost vein (630) within the set. This has also resulted in the identification of parallel veins to the east and west (Figure 2) including some exceptional antimony intersects.  

    Highlights from this drilling, all in addition to the holes noted above, include:

    • 7.4 g/t gold and 49.1% antimony over 0.44 m (ETW 0.22 m) in PD147;
    • 18.3 g/t gold and 26.2% antimony over 2.02 m (ETW 1.15 m) in PD190;
    • 15.1 g/t gold and 22.2% antimony over 1.26m (ETW 0.53 m) in PD211;
    • 26.7 g/t gold and 22.1% antimony over 0.31m (ETW 0.19 m) in SQ040B1 within 611;
    • 108.0 g/t gold and 29.1% antimony over 0.58 m (ETW 0.30 m) in PD151;
    • 26.4 g/t gold and 36.7% antimony over 0.21 m (ETW 0.18 m) in PD210 and;
    • 19.9 g/t gold and 14.1% antimony over 1.69 m (ETW 0.94 m) in PD172 within 632.

    Of note is the high-grade antimony values contained within the intercepts; this drilling has confirmed that the 630 vein in this southern area is consistently antimony-rich in addition to gold, which had been inferred from the results presented in Mandalay's 2023 exploration update (see November 7, 2023).

    Targeted drilling has consolidated the concept of the Deimos Fault acting as a major grade boundary for the Shepherd system, although promising mineralized structures have been intersected below the fault. There are indications that further south-westerly step-outs of the system beyond the 630 vein exist and could be tested from surface.

    Further north, extensive mining optimization drilling has taken place with a particular focus on identifying and delineating high-grade splay zones. These interaction zones and linking structures provide an important opportunity for upside due to the potential for very high grades. The following intercepts demonstrate the high tenor that has been identified in these interaction zones:

    • 107.0 g/t gold and 0.1% antimony over 0.55 m (ETW 0.40 m) in PD114;
    • 48.2 g/t gold and 1.8% antimony over 2.87 m (ETW 2.47 m) in PD132 within 600;
    • 547.3 g/t gold and 0.1% antimony over 0.86 m (ETW 0.75 m) in KD907 within 605;
    • 73.5 g/t gold and 11.2% antimony over 0.29 m (ETW 0.27 m) in PD140 and;
    • 751.7 g/t gold and 1.8% antimony over 0.22 m (ETW 0.21 m) in PD142 within 610.
    Figure 2. Cross section, looking north, of the Kendal, Youle and Shepherd system illustrating their relative locations and orientations and well as new drilling. The section is schematic and created to best illustrate the relationships of the targets across different northings (Kendall at approx. 7125N. and Shepherd at 6600N). Results of grade above 7.5 g/t AuEq when diluted to 1.8 m are also annotated with estimated true width and grade.

     

    Figure 3. Longitudinal section of the Shepherd 630 Vein system with new results labelled with hole ID. Results of grade above 7.5 g/t AuEq when diluted to 1.8 m are also annotated with estimated true width and grade.

    In the Kendall zone, drilling aimed to delineate northern and up-dip continuations of the veins initially developed in 2018 when the Youle area was first accessed by Mandalay Resources. At the time, the vein continuity in this area was not well defined due to the compartmentalized geology that has subsequently been resolved through underground drilling. Only surface drilling data with low drilling angles to the veining was available at time of mining, resulting in an inadequate understanding of the Kendall veining. While the potential of this zone was recognized at the time, mining focused on the more consistent and understood Youle vein which the Kendall system coalesces into with depth.

    The Kendall area contains many sub-parallel, vertical veins that occupy an approximately 80m wide zone of cleavage development within the broad hinge of the main Costerfield Anticline. Individual veins are influenced by bedding-parallel laminated quartz faults, where they often are seen to step westward along the fault for several metres. Additionally, a north-west trending fold overprint tends to control high-grade shoots within individual veins, which altogether requires close-spaced drilling to fully understand the system.

    Workers in the historic Costerfield mine during the mid-1930s mined the Kendall set of veins down to 8 Level (approximately 930RL). They attempted to find new ore panels to the north and west of the mine with a short campaign of diamond drilling, but had limited success. The company at the time was mainly concerned with finding ore at the current level of mining and had little appetite for continuing vertical development or completing the 9 Level crosscut. As shown in Figure 5, the Kendall system dipped below the area of interest (both to the west and north) and remained untested.

    The drilling covered in this release has significantly upgraded the "580" vein of the Kendall area up to the historic 8 Level, and has increased the endowment of the 580 vein with the following high-grade intercepts:

    • 82.6 g/t gold and 45.0% antimony over 0.20 m (ETW 0.08 m) in BC394;
    • 54.7 g/t gold and 63.5% antimony over 0.60 m (ETW 0.25 m) in BC395; and
    • 38.0 g/t gold and 35.7% antimony over 1.00m (ETW 0.54 m) in BC399.

    This area is readily accessible for mining with minimal capital development required, and has considerable scope for further additions. Upcoming drilling will investigate the Kendall vein set up to the boundary of the Whitelaw Fault footwall, and also extend knowledge north of the current resource boundary.

    Figure 4: Core photograph of the Kendall 580 Vein in BC399, grading 33.4 g/t gold and 31.4% antimony over 1.00m (ETW 0.67 m) and displaying gold-antimony vein textures commonly observed at Costerfield.

     

    Figure 5. Longitudinal section of the Kendal drilling, with new results labelled with hole ID. Results of grade above 7.5 g/t AuEq when diluted to 1.8m are also annotated with estimated true width and grade.

    Cuffley Extension Testing

    Late in 2023, drillhole AD200 intersected high-grade mineralization in a previously untested area below and south of the previously mined Cuffley deposit, approximately 150m from the southern boundary of the extant Cuffley resource. Follow-up drilling to date has intersected the mineralized structure in all directions surrounding AD200, with a total of 7,006 m (14 holes). Continued drilling is taking place in order to identify high-grade shoots within the mineralized plane that appears to be the continuation of a NE-striking vertical fault that intersects and offsets at a low angle the mined Cuffley lode. At least two additional parallel fault structures have been delineated in the Cuffley Deeps South target area that are mineralized, and in the case of AD203 contain high-grade mineralization (58.4g/t gold and 17.6% antimony over 0.77 m (ETW 0.55 m)).

    AD213 intersected a gold-rich quartz vein approximately 20m east of the main Cuffley Deeps panel (550.0 g/t gold over 0.15 m (ETW 0.12 m)). Follow-up drilling is underway to determine the continuity and extent of this previously unknown mineralization.

    Figure 6. Cross section, looking north, of the Cuffley and Augusta veining, local geology and new drilling. Results of grade above 7.5 g/t AuEq when diluted to 1.8 m are also annotated with estimated true width and grade.

     

    Figure 7. Longitudinal section of the Cuffley Deeps south veining, with new results labelled with hole ID. Results of grade above 7.5 g/t AuEq when diluted to 1.8 m are also annotated with estimated true width and grade.

     

    Figure 8. AD203 intercept of Cuffley Deeps South grading 58.4 g/t gold and 17.6% antimony over 0.77 m (ETW 0.55m)

     

    Figure 9. Discovery intersection of the Cuffley Deeps South Eastern Vein in drillhole AD213. Abundant visible gold (inset) and textures similar to that seen in the Shepherd veins

    The understanding of prospectivity at the northern end of the Cuffley deposit has increased in recent months. Previous mining of Cuffley halted to the north as the tenor decreased. The decline in grade is estimated to be related to a crosscutting north-west trending fold with a faulted hinge. Historic resource definition drilling did not identify economic extensions on the northern side of the fault. 

    Drillhole TP021 met with success intercepting 4.0 g/t gold and 20.2% antimony over 0.45 m (ETW 0.34 m). Simultaneously, the Cuffley-Brunswick Gap program commenced, drilling across the Costerfield corridor from the east to test a sparsely drilled area north of the Cuffley deposit. The initial drillhole CB001 intersected high-grade mineralization (17.1 g/t gold and 0.3% antimony over 1.20 m (ETW 1.12 m)) 80 m north of the Cuffley resource boundary, 190 m north of the closest drives on the Cuffley lodes.

    These two intercepts are directly along strike of Cuffley lode and may indicate that the Cuffley mineralization strengthens in tenor to the north after the interruption caused by the crossing of the Rattler Fault. Access to this area is readily facilitated from the adjacent Brunswick mine area and will be a priority area to extend throughout the remainder of 2024.

    Figure 10. Longitudinal section of the Cuffley Main lode showing the locations and grade of drillholes TP021 and CB001 relative to the existing Cuffley resource envelope, and the position of the structurally disruptive Rattler Fault.

    Forward Focus of Near Mine Exploration

    Given the recent exciting results described above, Cuffley Deeps will remain the primary focus of near mine exploration. Drilling will also continue on the promising northern continuation of the Cuffley System as well as other ongoing targeting of the Brunswick north extension area a potential additional line of veining approximately 300 m to the east of the central corridor.

    Regional drilling also continues on depth testing the satellite deposits of Robinsons and True Blue as well as the northern potential of the field.

    Drilling and Assaying

    All diamond drill core was logged and sampled by Costerfield geologists or contracted geologists with significant industry experience who worked under Costerfield geologist's oversight. All samples were sent to On Site Laboratory Services (OSLS) in Bendigo, Victoria, Australia, for sample preparation and analysis by fire assay for gold, and Atomic Absorption Spectroscopy (AAS) for antimony. Samples featuring coarse grained visible gold were assayed using a variant of fire assay known as screen fire assay. This method is routinely used to mitigate potential problems associated with heterogeneity in the distribution of coarse gold within drill samples. The procedure collects all coarse heterogenous coarse gold by screening at 75µm after crushing and pulverisation, and subsequently fire assays the resultant mass to extinction. A mass weighted average of gold grade of the sample is subsequently calculated from the +75µm and -75µm fractions of the sample. Site geological and metallurgical personnel have implemented a QA/QC procedure that includes systematic submission of standard reference materials and blanks within batches of drill and face samples submitted for assay. Costerfield specific reference materials produced from Costerfield ore have been prepared and certified by Geostats Pty Ltd., a specialist laboratory quality control consultancy. See Technical Report entitled "Costerfield Operation, Victoria, Australia NI 43-101 Report" dated March 28, 2024, available on SEDAR (www.sedar.com) for a complete description of drilling, sampling, and assaying procedures.

    Qualified Person:

    Chris Davis, Vice President of Operational Geology and Exploration at Mandalay Resources, is a Chartered Professional of the Australasian Institute of Mining and Metallurgy (MAusIMM CP(Geo)), as well as a Member of the Australian Institute of Geoscientists (MAIG) and a Qualified Person as defined by NI 43-101. He has reviewed and approved the technical and scientific information provided in this release.

    About Mandalay Resources Corporation

    Mandalay Resources is a Canadian-based resource company with producing assets in Australia (Costerfield gold-antimony mine) and Sweden (Björkdal gold mine). The Company is focused on growing its production and reducing costs to generate significant positive cashflow. Mandalay is committed to operating safely and in an environmentally responsible manner, while developing a high level of community and employee engagement.

    Mandalay's mission is to create shareholder value through the profitable operation and continuing the regional exploration program, at both its Costerfield and Björkdal mines. Currently, the Company's main objectives are to continue mining the high-grade Youle vein at Costerfield, ramping up production from deeper Shepherd veins, both of which will continue to supply high-quality ore to the processing plant, and to extend Mineral Reserves. At Björkdal, the Company will continue to produce from the Aurora zone and other higher-grade areas in the coming years, in order to maximize profit margins from the mine.

    Forward-Looking Statements:

    This news release contains "forward-looking statements" within the meaning of applicable securities laws, including statements regarding the exploration and development potential of the Youle, Shepherd, Cuffley and Kendall deposits (Costerfield). Readers are cautioned not to place undue reliance on forward-looking statements. Actual results and developments may differ materially from those contemplated by these statements depending on, among other things, changes in commodity prices and general market and economic conditions. The factors identified above are not intended to represent a complete list of the factors that could affect Mandalay. A description of additional risks that could result in actual results and developments differing from those contemplated by forward-looking statements in this news release can be found under the heading "Risk Factors" in Mandalay's annual information form dated March 28, 2024, a copy of which is available under Mandalay's profile at www.sedar.com. In addition, there can be no assurance that any inferred resources that are discovered as a result of additional drilling will ever be upgraded to proven or probable reserves. Although Mandalay has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.

    Appendix

    Table 1. Drilling Composites

    DRILL
    HOLE ID 

    FROM (M) 

    TO (M) 

    DRILL
    WIDTH
    (M) 

    TRUE
    WIDTH
    (M) 

    AU GRADE
    (G/T) 

    SB GRADE
    (%) 

    AU (G/T)
    OVER MIN. 1.8M
    MINING
    WIDTH 

    VEIN NAME 

    AD203

    404.05

    404.57

    0.52

    0.43

    9.9

    4.9

    4.07

    Cuffley Deeps Adj.

    AD206

    373.89

    374.27

    0.99

    0.81

    2.88

    0.16

    1.4

    Cuffley Deeps Adj.

    AD211

    514.77

    514.88

    0.11

    0.08

    8.76

    2.62

    0.54

    Cuffley Deeps Adj.

    AD211

    578.32

    579.44

    1.12

    1.05

    3.09

    LLD

    1.79

    Cuffley Deeps Adj.

    CW002

    233.24

    234.8

    1.56

    1

    1.35

    2.75

    3.03

    Cuffley Deeps Adj.

    AD200

    489.7

    492.79

    2.98

    1.44

    3.69

    LLD

    2.96

    Cuffley Deeps South

    AD200W1

    486.31

    489.64

    3.03

    2.42

    7.55

    LLD

    10.15

    Cuffley Deeps South

    AD202

    543.3

    543.35

    0.05

    0.04

    14.7

    0.4

    0.3

    Cuffley Deeps South

    AD203

    431.52

    432.29

    0.77

    0.55

    58.44

    17.59

    26.05

    Cuffley Deeps South

    AD204

    528.86

    529.32

    0.46

    0.42

    0.57

    LLD

    0.13

    Cuffley Deeps South

    AD205

    524.88

    525.12

    0.49

    0.31

    1.82

    LLD

    0.32

    Cuffley Deeps South

    AD206

    400.49

    401.79

    1.3

    1.05

    0.44

    LLD

    0.25

    Cuffley Deeps South

    AD207

    354

    354.4

    0.29

    0.23

    0.42

    0.01

    0.06

    Cuffley Deeps South

    AD208

    516.82

    517.01

    0.19

    0.16

    0.68

    LLD

    0.06

    Cuffley Deeps South

    AD209A

    611.6

    611.96

    0.36

    0.29

    0.29

    0.01

    0.05

    Cuffley Deeps South

    AD210

    466.37

    466.8

    0.43

    0.2

    0.44

    LLD

    0.05

    Cuffley Deeps South

    AD211

    531.2

    534.12

    2.92

    2.39

    1.07

    0.06

    1.16

    Cuffley Deeps South

    AD212

    466.37

    467.31

    0.94

    0.72

    LLD

    LLD

    LLD

    Cuffley Deeps South

    AD213

    325.09

    325.24

    0.15

    0.12

    550

    0.12

    35.63

    Cuffley Deeps South VG Vein

    AD213W1

    325.17

    325.33

    0.16

    0.11

    23.9

    0.01

    1.5

    Cuffley Deeps South VG Vein

    CB001

    605.68

    606.88

    1.2

    1.12

    17.15

    0.33

    10.98

    Cuffley Main

    TP021

    172.62

    172.82

    0.45

    0.34

    3.96

    20.2

    3.4

    Cuffley Main

    CW004

    332.9

    333.7

    0.8

    0.63

    2.09

    LLD

    0.73

    Cuffley West

    BC394

    131.47

    131.67

    0.2

    0.08

    82.6

    45

    7.64

    Kendall 580 Vein

    BC395

    140.58

    141.18

    0.6

    0.22

    54.7

    63.5

    21.48

    Kendall 580 Vein

    BC396

    132.2

    132.31

    0.11

    0.06

    16.9

    1.05

    0.56

    Kendall 580 Vein

    BC397

    123.79

    123.93

    0.14

    0.09

    2.36

    4.05

    0.42

    Kendall 580 Vein

    BC398

    99.64

    99.88

    0.24

    0.16

    11.4

    24.3

    4.16

    Kendall 580 Vein

    BC399

    82.96

    83.96

    1

    0.67

    33.42

    31.4

    35.36

    Kendall 580 Vein

    BC401

    165.11

    165.38

    0.27

    0.12

    4.37

    21.9

    2.52

    Kendall 580 Vein

    BC403

    166.11

    166.43

    0.32

    0.06

    6.53

    6.93

    0.57

    Kendall 580 Vein

    BC396

    95.12

    95.27

    0.15

    0.06

    4.45

    1.34

    0.24

    Kendall 581 Vein

    BC395

    155.77

    156.14

    0.37

    0.2

    4.23

    9.64

    2.56

    Kendall 582 Vein

    KD909

    7.55

    8.55

    1

    0.52

    17.95

    0.11

    5.25

    Shepherd 600 Vein

    KD910

    1.74

    2.2

    0.46

    0.44

    25.73

    LLD

    6.26

    Shepherd 600 Vein

    PD085

    55.88

    56.42

    0.54

    0.42

    59.1

    0.01

    13.75

    Shepherd 600 Vein

    PD101

    35.78

    36.06

    0.28

    0.23

    31.8

    LLD

    4.01

    Shepherd 600 Vein

    PD114

    36.03

    36.58

    0.55

    0.4

    107

    0.05

    23.73

    Shepherd 600 Vein

    PD132

    8.53

    11.4

    2.87

    2.47

    48.21

    1.78

    51.67

    Shepherd 600 Vein

    PD184

    20.28

    20.63

    0.35

    0.25

    LLD

    LLD

    LLD

    Shepherd 600 Vein

    PD185

    27.3

    27.87

    0.57

    0.18

    0.09

    LLD

    0.01

    Shepherd 600 Vein

    PD108

    14.24

    15.42

    1.18

    0.79

    0.29

    LLD

    0.13

    Shepherd 603 Vein

    KD907

    LLD

    0.86

    0.86

    0.75

    547.31

    0.06

    229.46

    Shepherd 605 Vein

    KD908

    LLD

    0.32

    0.32

    0.3

    33.15

    0.01

    5.52

    Shepherd 605 Vein

    PD102

    8

    8.84

    0.84

    0.8

    0.12

    LLD

    0.06

    Shepherd 609 Vein

    PD103

    8.75

    9.22

    0.47

    0.38

    1.72

    LLD

    0.36

    Shepherd 609 Vein

    PD108

    32.65

    32.85

    0.2

    0.12

    0.56

    LLD

    0.04

    Shepherd 609 Vein

    PD140

    39.94

    40.23

    0.29

    0.27

    73.48

    11.17

    14.1

    Shepherd 610 Vein

    PD142

    39.15

    39.37

    0.22

    0.21

    751.67

    1.83

    88.07

    Shepherd 610 Vein

    PD150

    47.7

    47.8

    0.1

    0.09

    0.05

    LLD

    LLD

    Shepherd 610 Vein

    PD140

    36.2

    36.34

    0.14

    0.14

    0.26

    LLD

    0.02

    Shepherd 611 Vein

    PD142

    35.47

    35.57

    0.1

    0.1

    0.26

    LLD

    0.01

    Shepherd 611 Vein

    PD147

    89.63

    90.07

    0.44

    0.22

    7.35

    49.1

    12.33

    Shepherd 611 Vein

    PD150

    42.14

    42.27

    0.13

    0.13

    0.33

    LLD

    0.02

    Shepherd 611 Vein

    PD190

    7.39

    9.41

    2.02

    1.15

    18.34

    26.24

    44.27

    Shepherd 611 Vein

    PD211

    17.3

    18.56

    1.26

    0.53

    15.09

    22.21

    17.01

    Shepherd 611 Vein

    SQ040B1

    347.43

    347.74

    0.31

    0.19

    26.7

    22.1

    7.2

    Shepherd 611 Vein

    PD215

    19.84

    19.94

    0.1

    0.07

    0.37

    LLD

    0.01

    Shepherd 621 Vein

    PD217

    14.82

    14.95

    0.13

    0.11

    5.76

    LLD

    0.36

    Shepherd 621 Vein

    PD218

    22.35

    22.65

    0.3

    0.18

    7.46

    0.01

    0.76

    Shepherd 621 Vein

    PD219

    15.61

    15.82

    0.21

    0.21

    5.61

    4.15

    1.56

    Shepherd 621 Vein

    PD113

    2.84

    3.1

    0.26

    0.06

    0.53

    0.54

    0.05

    Shepherd 622 Vein

    PD134

    47.26

    47.38

    0.12

    0.09

    40.4

    3.84

    2.33

    Shepherd 622 Vein

    PD135

    68.67

    68.98

    0.31

    0.18

    0.48

    LLD

    0.05

    Shepherd 622 Vein

    PD136

    48.27

    48.37

    0.1

    0.07

    41.8

    6.45

    2.17

    Shepherd 622 Vein

    PD141

    47.65

    47.76

    0.11

    0.1

    29.2

    18.5

    3.56

    Shepherd 622 Vein

    PD147

    54

    54.45

    0.45

    0.29

    0.91

    0.34

    0.25

    Shepherd 622 Vein

    PD151

    75.1

    75.6

    0.5

    0.25

    0.54

    LLD

    0.08

    Shepherd 622 Vein

    PD171

    68.9

    69.14

    0.24

    0.12

    0.18

    LLD

    0.01

    Shepherd 622 Vein

    PD172

    60.74

    60.86

    0.12

    0.07

    1.44

    LLD

    0.05

    Shepherd 622 Vein

    PD175

    58.58

    59.84

    1.26

    0.53

    291.33

    0.02

    86.49

    Shepherd 622 Vein

    PD176

    40.7

    40.91

    0.21

    0.12

    5

    LLD

    0.32

    Shepherd 622 Vein

    PD178

    29.86

    30.29

    0.43

    0.32

    13.9

    LLD

    2.51

    Shepherd 622 Vein

    PD179

    86.79

    87

    0.21

    0.09

    0.32

    LLD

    0.02

    Shepherd 622 Vein

    PD181

    65.78

    65.93

    0.15

    0.08

    0.35

    0.01

    0.02

    Shepherd 622 Vein

    PD109

    4.5

    4.72

    0.22

    0.21

    3.86

    LLD

    0.44

    Shepherd 625 Vein

    PD175

    67.15

    67.3

    0.15

    0.08

    0.13

    LLD

    0.01

    Shepherd 625 Vein

    PD176

    49.71

    49.9

    0.19

    0.12

    0.06

    LLD

    LLD

    Shepherd 625 Vein

    PD111

    27.33

    27.52

    0.19

    0.15

    0.24

    LLD

    0.02

    Shepherd 630 Vein

    PD112

    31.42

    31.8

    0.38

    0.14

    0.13

    LLD

    0.01

    Shepherd 630 Vein

    PD113

    74.09

    76.06

    1.97

    0.55

    14.47

    LLD

    4.39

    Shepherd 630 Vein

    PD128

    22.9

    23.01

    0.11

    0.1

    5.96

    3.14

    0.7

    Shepherd 630 Vein

    PD129

    31.82

    31.92

    0.1

    0.06

    15.6

    14.5

    1.43

    Shepherd 630 Vein

    PD131

    25.81

    26.03

    0.22

    0.16

    0.02

    LLD

    LLD

    Shepherd 630 Vein

    PD134

    71.02

    71.68

    0.66

    0.49

    15.6

    LLD

    4.23

    Shepherd 630 Vein

    PD135

    97.6

    97.83

    0.23

    0.13

    5.97

    0.03

    0.45

    Shepherd 630 Vein

    PD136

    74.9

    75.28

    0.38

    0.27

    22.1

    0.02

    3.37

    Shepherd 630 Vein

    PD151

    108.14

    108.72

    0.58

    0.3

    108

    29.1

    27.72

    Shepherd 630 Vein

    PD171

    105.36

    105.62

    0.26

    0.13

    5.98

    23.6

    3.82

    Shepherd 630 Vein

    PD172

    93.3

    94.03

    0.73

    0.42

    1.2

    0.53

    0.51

    Shepherd 630 Vein

    PD173

    118.14

    118.36

    0.22

    0.11

    0.1

    LLD

    0.01

    Shepherd 630 Vein

    PD174

    116.6

    116.9

    0.3

    0.14

    0.09

    LLD

    0.01

    Shepherd 630 Vein

    PD179

    120.98

    121.68

    0.7

    0.31

    1.9

    LLD

    0.33

    Shepherd 630 Vein

    PD181

    96.44

    96.81

    0.37

    0.2

    21.2

    19.1

    6.47

    Shepherd 630 Vein

    PD188

    62.66

    63.08

    0.42

    0.32

    1.54

    LLD

    0.28

    Shepherd 630 Vein

    PD189

    15.4

    16.07

    0.67

    0.66

    0.38

    0.21

    0.29

    Shepherd 630 Vein

    PD191

    26.4

    26.51

    0.11

    0.09

    0.07

    1.09

    0.1

    Shepherd 630 Vein

    PD209

    19.32

    20.66

    1.34

    1.19

    0.03

    LLD

    0.02

    Shepherd 630 Vein

    PD210

    23.31

    23.52

    0.21

    0.18

    26.4

    36.7

    9.59

    Shepherd 630 Vein

    SQ040A

    378.74

    379.54

    0.8

    0.61

    0.2

    LLD

    0.07

    Shepherd 630 Vein

    PD134

    94.17

    95.62

    1.45

    1.05

    2.14

    0.23

    1.51

    Shepherd 632 Vein

    PD135

    133.46

    134.65

    1.19

    0.69

    0.71

    LLD

    0.27

    Shepherd 632 Vein

    PD136

    101.91

    102.27

    0.36

    0.26

    1.24

    LLD

    0.18

    Shepherd 632 Vein

    PD171

    148.36

    149.14

    0.78

    0.41

    8.57

    0.12

    2

    Shepherd 632 Vein

    PD172

    123.43

    125.12

    1.69

    0.94

    19.92

    14.08

    24.69

    Shepherd 632 Vein

    PD174

    147

    147.41

    0.41

    0.19

    6.4

    5.89

    1.9

    Shepherd 632 Vein

    PD181

    135.13

    135.53

    0.4

    0.22

    41.4

    2.83

    5.68

    Shepherd 632 Vein

    PD205

    4.91

    5.28

    0.37

    0.15

    2.16

    14.72

    2.55

    Shepherd 632 Vein

    PD206

    1.96

    3.3

    1.34

    0.09

    16.77

    1.85

    0.99

    Shepherd 632 Vein

    PD134

    77.54

    77.98

    0.44

    0.16

    0.46

    LLD

    0.04

    Shepherd 634 Vein

    Notes


    1.

    The AuEq (gold equivalent) grade is calculated using the following formula:


    AuEq g per t=Au g per t+Sb% × 

    (Sb price per 10kg×Sb processing recovery)


    (Au price per g×Au processing recovery)


    Prices and recoveries used: Au $/oz = 1,900; Sb $/t = 11,700; Au Recovery = 93% and; Sb Recovery = 92%

    2.

    LLD signifies an undetectable amount of antimony. Detection limit for the analysis used is 0.01%

    3.

    Composites that are not interpreted to be connected to a named vein and are below 1 g/t AuEq when diluted to 1.8m are not considered significant and are not recorded here.

    Table 2. Drill Hole Collar Details

    Drill Program

    Drill Hole
    ID

    Easting

    Northing

    Elevation

    Depth

    Dip

    Azimuth

    Date  Complete

    Cuffley Deeps South

    AD200

    15271

    4548

    1000

    719.7

    -62.7

    276.2

    2024/01/13

    Cuffley Deeps South

    AD200W1

    15271

    4548

    1000

    497.4

    -62.7

    276.2

    2024/01/14

    Cuffley Deeps South

    AD202

    15260

    4599

    992

    712.7

    -48.4

    232.9

    2024/01/20

    Cuffley Deeps South

    AD203

    15260

    4601

    992

    500.4

    -59.3

    270.5

    2024/03/13

    Cuffley Deeps South

    AD204

    15259

    4600

    992

    551.4

    -55.2

    249.4

    2024/03/29

    Cuffley Deeps South

    AD205

    15259

    4601

    992

    785.0

    -65.2

    273.9

    2024/04/13

    Cuffley Deeps South

    AD206

    15259

    4601

    992

    500.4

    -56.9

    289.6

    2024/04/24

    Cuffley Deeps South

    AD207

    15259

    4600

    992

    410.3

    -54.4

    263.1

    2024/04/30

    Cuffley Deeps South

    AD208

    15260

    4599

    992

    682.0

    -60.1

    244.6

    2024/05/13

    Cuffley Deeps South

    AD209A

    15260

    4600

    992

    746.0

    -62.7

    231.1

    2024/06/02

    Cuffley Deeps South

    AD210

    15260

    4601

    992

    515.7

    -65.6

    278.7

    2024/06/26

    Cuffley Deeps South

    AD211

    15260

    4600

    992

    615.0

    -72.2

    255.8

    2024/07/15

    Cuffley Deeps South

    AD212

    15260

    4599

    992

    500.0

    -51.5

    241.9

    2024/06/13

    Cuffley Deeps South

    AD213

    15261

    4601

    992

    435.0

    -57.8

    267.1

    2024/07/26

    Cuffley Deeps South

    AD213W1

    15100

    4599

    745

    329.2

    -57.8

    267.1

    2024/07/25

    Kendall North

    BC394

    15353

    7012

    922

    175.4

    -13.6

    25.1

    2024/06/20

    Kendall North

    BC395

    15353

    7012

    922

    224.0

    -6.5

    22.3

    2024/06/24

    Kendall North

    BC396

    15353

    7012

    922

    180.0

    -0.9

    26.5

    2024/06/27

    Kendall North

    BC397

    15353

    7012

    922

    200.0

    -3.8

    28.6

    2024/06/29

    Kendall North

    BC398

    15353

    7012

    922

    125.4

    3.0

    42.5

    2024/07/02

    Kendall North

    BC399

    15354

    7012

    922

    116.3

    -6.3

    45.2

    2024/07/16

    Kendall North

    BC401

    15354

    7012

    922

    205.0

    -8

    18

    2024/07/08

    Kendall North

    BC403

    15354

    7012

    922

    240.0

    -13.3

    16.5

    2024/07/14

    Cuffley North

    CB001

    15779

    5364

    1183

    985.9

    -30.5

    275.0

    2024/05/28

    Cuffley West

    CW002

    15251

    4944

    944

    400.0

    -50.4

    233.4

    2024/05/24

    Cuffley West

    CW004

    15251

    4947

    944

    400.0

    -51.0

    302.0

    2024/06/02

    Prod. Opt. (Shepherd 600)

    KD907

    15242

    6961

    712

    10.1

    25.4

    88.5

    2024/01/25

    Prod. Opt. (Shepherd 600)

    KD908

    15242

    6961

    711

    10.0

    -20.1

    90.1

    2024/01/25

    Prod. Opt. (Shepherd 600)

    KD909

    15244

    7004

    711

    23.4

    22.0

    100.0

    2024/01/28

    Prod. Opt. (Shepherd 600)

    KD910

    15245

    7002

    710

    13.0

    -20.1

    99.1

    2024/01/29

    Prod. Opt. (Shepherd 630)

    PD085

    15182

    6825

    667

    86.2

    -2.8

    136.2

    2023/10/02

    Prod. Opt. (Shepherd 630)

    PD101

    15182

    6825

    666

    59.8

    -26.8

    123.7

    2023/09/27

    Prod. Opt. (Shepherd 630)

    PD102

    15229

    6826

    686

    18.0

    -12.4

    105.8

    2023/09/07

    Prod. Opt. (Shepherd 630)

    PD103

    15229

    6838

    687

    19.0

    28.2

    105.9

    2023/09/08

    Prod. Opt. (Shepherd 630)

    PD108

    15218

    6770

    688

    47.0

    28.6

    132.0

    2023/09/13

    Prod. Opt. (Shepherd 630)

    PD109

    15194

    6968

    625

    10.3

    3.9

    253.2

    2023/09/24

    Prod. Opt. (Shepherd 630)

    PD111

    15180

    6853

    666

    38.3

    -22.9

    246.0

    2023/08/12

    Prod. Opt. (Shepherd 630)

    PD112

    15179

    6774

    667

    52.5

    -33.6

    209.5

    2023/10/12

    Prod. Opt. (Shepherd 630)

    PD113

    15180

    6772

    668

    90.7

    -4.9

    194.4

    2023/10/17

    Prod. Opt. (Shepherd 630)

    PD114

    15182

    6803

    667

    62.0

    -46.1

    113.5

    2023/10/20

    Prod. Opt. (Shepherd 630)

    PD128

    15179

    6775

    668

    34.0

    -1.2

    251.3

    2023/11/03

    Prod. Opt. (Shepherd 630)

    PD129

    15180

    6775

    668

    50.0

    18.5

    216.1

    2023/11/07

    Prod. Opt. (Shepherd 630)

    PD131

    15180

    6817

    668

    52.0

    35.9

    240.8

    2023/11/08

    Prod. Opt. (Shepherd 600)

    PD132

    15239

    6911

    740

    15.9

    21.8

    110.3

    2023/11/10

    Prod. Opt. (Shepherd 630)

    PD134

    15215

    6764

    688

    104.4

    4.2

    225.5

    2023/11/28

    Prod. Opt. (Shepherd 630)

    PD135

    15215

    6764

    687

    168.0

    -6.6

    212.8

    2023/12/05

    Prod. Opt. (Shepherd 630)

    PD136

    15215

    6764

    687

    113.2

    -9.6

    226.7

    2023/12/11

    Prod. Opt. (Shepherd 630)

    PD140

    15233

    6882

    685

    68.0

    -8.4

    266.9

    2023/11/17

    Prod. Opt. (Shepherd 630)

    PD141

    15232

    6855

    686

    84.0

    -8.3

    268.4

    2023/11/21

    Prod. Opt. (Shepherd 630)

    PD142

    15233

    6882

    685

    55.3

    -3.3

    270.4

    2023/11/17

    Prod. Opt. (Shepherd 630)

    PD147

    15215

    6764

    688

    122.6

    15.0

    221.0

    2023/12/22

    Prod. Opt. (Shepherd 630)

    PD150

    15226

    6832

    686

    70.3

    4.7

    264.5

    2023/12/19

    Prod. Opt. (Shepherd 630)

    PD151

    15215

    6764

    688

    148.5

    -4.8

    209.0

    2024/01/15

    Prod. Opt. (Shepherd 630)

    PD171

    15212

    6755

    688

    160.0

    1.9

    207.7

    2024/02/15

    Prod. Opt. (Shepherd 630)

    PD172

    15212

    6755

    688

    136.8

    7.2

    212.8

    2024/03/21

    Prod. Opt. (Shepherd 630)

    PD173

    15213

    6757

    688

    132.4

    -13.6

    208.7

    2024/02/27

    Prod. Opt. (Shepherd 630)

    PD174

    15212

    6755

    688

    176.5

    -6.8

    206.9

    2024/03/06

    Prod. Opt. (Shepherd 630)

    PD175

    15229

    7021

    623

    72.0

    -6.5

    215.5

    2024/04/29

    Prod. Opt. (Shepherd 630)

    PD176

    15224

    7019

    622

    61.0

    -10.9

    227.7

    2024/05/03

    Prod. Opt. (Shepherd 630)

    PD178

    15227

    7024

    622

    43.2

    -32.9

    261.3

    2024/05/03

    Prod. Opt. (Shepherd 630)

    PD179

    15212

    6755

    688

    140.2

    0.0

    203.1

    2024/03/19

    Prod. Opt. (Shepherd 630)

    PD181

    15212

    6755

    688

    164.6

    7.3

    209.2

    2024/03/22

    Prod. Opt. (Shepherd 630)

    PD184

    15199

    6999

    623

    39.5

    -49.3

    91.4

    2024/04/05

    Prod. Opt. (Shepherd 630)

    PD185

    15199

    6999

    623

    56.9

    -68.7

    47.4

    2024/04/08

    Prod. Opt. (Shepherd 630)

    PD188

    15211

    6756

    687

    112.1

    -26.7

    241.8

    2024/03/28

    Prod. Opt. (Shepherd 630)

    PD189

    15150

    6686

    703

    19.3

    6.0

    89.4

    2024/05/06

    Prod. Opt. (Shepherd 630)

    PD190

    15146

    6673

    705

    27.7

    46.4

    132.2

    2024/05/15

    Prod. Opt. (Shepherd 630)

    PD191

    15146

    6673

    704

    33.0

    18.2

    121.4

    2024/05/07

    Prod. Opt. (Shepherd 630)

    PD205

    15140

    6625

    706

    25.0

    60.9

    96.8

    2024/05/08

    Prod. Opt. (Shepherd 630)

    PD206

    15139

    6620

    705

    31.1

    26.0

    174.8

    2024/05/09

    Prod. Opt. (Shepherd 630)

    PD209

    15141

    6625

    704

    35.8

    -1.8

    118.1

    2024/05/20

    Prod. Opt. (Shepherd 630)

    PD210

    15142

    6628

    704

    39.9

    -7.1

    56.9

    2024/05/15

    Prod. Opt. (Shepherd 630)

    PD211

    15145

    6669

    704

    46.0

    33.6

    154.8

    2024/05/20

    Prod. Opt. (Shepherd Nth)

    PD215

    15209

    7246

    576

    46.3

    14.2

    49.8

    2024/06/12

    Prod. Opt. (Shepherd Nth)

    PD217

    15209

    7246

    575

    29.8

    -30.0

    101.6

    2024/06/13

    Prod. Opt. (Shepherd Nth)

    PD218

    15209

    7247

    575

    34.0

    -23.7

    45.0

    2024/06/14

    Prod. Opt. (Shepherd Nth)

    PD219

    15208

    7245

    576

    23.0

    6.3

    101.4

    2024/06/14

    Shepherd 630

    SQ040A

    15376

    6754

    958

    420.0

    -45.0

    233.0

    2024/02/21

    Shepherd 630

    SQ040B1

    15376

    6754

    958

    420.0

    -43.3

    237.6

    2024/03/03

    Cuffley North

    TP021

    15385

    5484

    1181

    199.5

    -32.6

    299.8

    2024/04/16

     

    For Further Information: Frazer Bourchier, President and Chief Executive Officer; Edison Nguyen, Director, Business Valuations and Investor Relations; Contact: 647.258.9722

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    Cision View original content:https://www.prnewswire.co.uk/news-releases/mandalay-resources-reports-high-grade-antimony-and-gold-intercepts-advancing-costerfield-resource-expansion-302244354.html


    The Mandalay Resources Stock at the time of publication of the news with a raise of +4,81 % to 3,05CAD on Toronto stock exchange (10. September 2024, 22:00 Uhr).

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    Verfasst von PR Newswire (engl.)
    Mandalay Resources Reports High-Grade Antimony and Gold Intercepts, Advancing Costerfield Resource Expansion TORONTO, Sept. 10, 2024 /PRNewswire/ - Mandalay Resources Corporation ("Mandalay" or the "Company") (TSX: MND) (OTCQB: MNDJF) is pleased to provide an update on drilling progress at its Costerfield operation in Victoria, Australia. New Drilling …