Magnetic Resources (ASX:MAU) has drilled numerous thick new intersections at the Lady Julie North 4 deposit in Western Australia.
The target is being tested over a large 800m x 150m area and importantly is open down dip and at depth and to the SSE. A further 17 RC holes for 2,796m are planned.
The results at Lady Julia North include 28m at 2.05g/t from 36m in MLJRC439, 40m at 1.79g/t from 60m in MLJRC442, 28m at 2.04g/t from 112m in MLJRC517 and 16m at 2.34g/t from 68m in MLJRC549.
This long 800m X 150m target zone is being infill drilled with a programme of 17 RC holes for 2,796m with most of these holes looking to extend the down dip extent of the mineralisation at depth and to test the SSE extension. There are assays pending for 21 RC holes for 1,814m, 2 AC holes for 28m and three Diamond holes for 302m.
A NE target is only 250m east of Lady Julie North 4 and has some elevated gold results of 3m at 1.12g/t from 120m in RFAC523, which will be followed up with a shallow AC programme once a POW is approved.
In addition, there are numerous similar targets, splay structures on the boundaries of isolated magnetic mafic/ultramafic bodies, within a sizeable 3.5km southern structural NS corridor, which are also poorly explored and are under cover and will be investigated in the future.
Ten large new structural targets have been located mainly to the NE and S of Lady Julie Central after using the results of a structural study, together with historical aeromagnetics and gravity images, geochemical, drilling and geological mapping data.
Particular attention is being paid to areas where NNW and NE-trending structures intersect known and interpreted porphyry intrusions mainly in the Lady Julie strip, in areas that have not been explored due to the thicker soil cover which obscure potential mineralisation within the Lady Julie NS trending 6.5km x 1.5km strip. More than 80% of this strip is under cover and remains very prospective.
The Lady Julie North 4 deposit is only 2.5km N of the Lady Julie Central deposit which in turn is 2.5km NE of the HN9 deposit.
These three areas are all shallow deposits and in some cases starting from surface providing low strip ratios and potential for economic ore that is open-cuttable and are effectively part of one mining centre.
There are now four main mineralised centres that have been extensively drilled and in some cases, further drilling is planned. They include Lady Julie Central and Lady Julie WMC (being drill tested over a 1km length), Lady Julie 4 (being tested over 800m length), HN9 (2.5km length) and Homeward Bound South (being tested over a 1km length and is within the 5km mineralised Federation shear zone.
These four mineralised areas are all shallow deposits and, in some cases, starting from surface providing low strip ratios and potential for economic ore that is open-cuttable.
For further information please visit: https://magres.com.au/
