Mandalay Resources Corporation (TSE:MND) (OTCQB:MNDJF) (FRA:R7X2) has unveiled positive results from depth drill testing at its Björkdal mine, which could mean a significant increase in the development life of the Swedish asset.
Since last year, a major focus of exploration at the gold mine has been on the depth and eastern extension of the Lake Zone veining.
READ: Mandalay Resources reveals new intercepts from drilling near the Youle deposit on the Costerfield gold operation
Drilling has now hit 15 veins containing significant grades with inferred strike extensions of up to and over 300 meters (m). Highlight drill assays include 119.2 grams per ton (g/t) gold over a true width of 0.44m in one hole. Also intercepted was 92.2 g/t of the precious metal over a true width of 0.40m in another.
“Given Björkdal’s long mine life of over 10 years, our exploration focus there has shifted away from incremental additions to existing resources and reserves to identifying and drilling more prospective areas with higher-grade mineralization possibilities,” said Dominic Duffy, the chief executive of Mandalay.
“These exciting initial high-grade intercepts from the depth extension drilling have demonstrated significant continuation within the Lake Zone area. Follow up infill drilling will be ongoing as we endeavour to define the breadth of veining and bring these areas to production in the short term.”
So far, this drilling at Björkdal marks the initial phase of exploration and an infill program has begun and is expected to be completed in the second quarter this year, added Mandalay.
“The results of drilling in this area suggest the possibility of a significant increase in the development life of the Björkdal mine by providing a new mining area beyond the current workings on Main Zone and Aurora.”
For further detail about this development, Mandalay also shared a video. click HERE
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Story by ProactiveInvestors
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