Read the story here. Advertise at Before It's News here.
Profile image
By ProactiveInvestors (Reporter)
Contributor profile | More stories
Story Views
Last hour:
Last 24 hours:

Mandalay Resources posts more encouraging drill assays from Youle deposit at its Australia mine

% of readers think this story is Fact. Add your two cents.

Mandalay Resources Corporation (TSE:MND) (OTCQB:MNDJF) (FRA:R7X2) reported further drilling success at the Youle deposit at the company’s Australia mine, which is likely to lead to a longer life for the asset. 

Recent drilling has focused on delineating the previously reported southern high-grade zone but has also uncovered new high-grade results to the north, the company said. 

READ: Mandalay Resources posts 4Q production results highlighting continued performance at Australian and Swedish gold operations 

“We are encouraged by the development and confirmation of the recently discovered high-grade gold southern domain reported in October 2020,” said Dominic Duffy, the chief executive at the metals miner.

“Recent drill intercepts convey a link to the current mining area, providing strong indications that the high-gold grades currently mined will continue through to this zone.”

At the north of the Youle trend, holes supported a high-grade plunge extension, providing a clear target for “further focused exploration efforts and are likely to provide additional growth to Costerfield’s mine life”.

Latest holes, linked to the southern area, included an assay of 94.7 grams per ton (g/t) gold and 16.4% antimony over a true width of 0.05 metres (m).

Results at the northern extent included 316.1 g/t gold and 0.1% antimony over a true width of 0.22m.

Duffy continued: “Costerfield’s 2021 forecast exploration spend of US$6.2 million is the site’s highest budget to date as the team looks to follow up on recent successes at Youle and also regionally. Imperative to the growth of Costerfield, this year’s exploration program will focus on targets below recent and historical mined deposits.”

Mandalay runs the Costerfield gold and antimony mine in Australia and the Björkdal gold mine in Sweden.

Since first ore was mined from the Youle deposit in August 2019, the deposit has been a consistent producer of high-grades.

Mandalay also noted that these latest drill intercepts at depth alongside information gained from mining throughout 2020, has provided a more detailed understanding of the dynamics of the Youle deposit.

“There are strong indicators that many of the mineralogical variations at Youle are representative of a deeper emplacement setting to that of previously mined orebodies along the central Costerfield corridor,” it said.

Contact the author at [email protected]

Story by ProactiveInvestors


Before It’s News® is a community of individuals who report on what’s going on around them, from all around the world.

Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.

"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.

Please Help Support BeforeitsNews by trying our Natural Health Products below!

Order by Phone at 888-809-8385 or online at M - F 9am to 5pm EST

Order by Phone at 888-809-8385 or online at M - F 9am to 5pm EST

Humic & Fulvic Trace Minerals Complex - Nature's most important supplement! Vivid Dreams again!

HNEX HydroNano EXtracellular Water - Improve immune system health and reduce inflammation

Ultimate Clinical Potency Curcumin - Natural pain relief, reduce inflammation and so much more.

MitoCopper - Bioavailable Copper destroys pathogens and gives you more energy. (See Blood Video)
Oxy Powder - Natural Colon Cleanser!  Cleans out toxic buildup with oxygen! 
Nascent Iodine - Promotes detoxification, mental focus and thyroid health.
Smart Meter Cover -  Reduces Smart Meter radiation by 96%!  (See Video)

Immusist Beverage Concentrate - Proprietary blend, formulated to reduce inflammation while hydrating and oxygenating the cells.

Report abuse


    Your Comments
    Question   Razz  Sad   Evil  Exclaim  Smile  Redface  Biggrin  Surprised  Eek   Confused   Cool  LOL   Mad   Twisted  Rolleyes   Wink  Idea  Arrow  Neutral  Cry   Mr. Green

    Load more ...




    Email this story
    Email this story

    If you really want to ban this commenter, please write down the reason:

    If you really want to disable all recommended stories, click on OK button. After that, you will be redirect to your options page.