Magnetic Resources (ASX: MAU) has received assay results from the high priority central 250m long gold-rich breccia silica pyrite alteration area.
The drillhole has an additional thick intersection of 80m at 1.24g/t from 192m, which ended in mineralization, and RC hole MLJRC803 is currently being drilling further down dip from MLJRC801. Diamond hole MLDDO17, which had an intersection of 50.3m at 2.49g/t from 160m, is up dip from MLJRC801. A very thick intersection of 111m at 1.76g/t from 173m in MLJRC779, which ended in mineralization also had a shallow zone above this intersection of 22m at 5.39g/t from 67m, which was confirmed by 1m splits.
The multiple very thick intersections in this 250m long zone are still open to the east and the thickness has been increasing dramatically in an easterly direction and at depth. Highlights of this area include:
- 120m at 2.68g/t from 152m in MLJRC789
- 111m at 1.76g/t from 173m in MLJRC779
- 96m at 1.23g/t from 145m in MLJRC670
- 96m at 1.23g/t from 54m in MLJRC679
- 45m at 2.65g/t from 130m in MLJDD015
- 52m at 1.14g/t from 208m in MLJRC790
- 56m at 1.37g/t from 192m in MLJRC801
- 50.3m at 2.49g/t in MLJDD017
- 30m at 5.53g/t from 145m in MLJDD016
The company plans to test extensions to the main 250m long central zone with holes east of MLJRC779, which intersected 111m at 1.76g/t from 173m, with deeper diamond hole MLJDD031 and to the east of MLJRC789, which intersected 120m at 2.68g/t from 152m, with deeper RC hole MLJRC802.
Furthermore, the high-grade intersection of 50.3m at 2.49g/t in diamond hole MLDD017 is associated with a 50m thick breccia zone, with some silica-pyrite alteration from 160.6m to 210.4m and ended in mineralization. A similar 50m thick breccia and silica pyrite zone was found 100m to the north in MLJDD016 which had an intersection of 45m at 2.65g/t from 130m. These 50m intersections are of high priority as is the 250m length zone in the central and southern part of LJN4.
Studies are progressing to further understand the dip and plunge of these thick high-grade breccia zones, four RC holes and a diamond hole are being currently drilled within this very promising zone.
To find out more, please visit www.magres.com.au
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