Magnetic Resources (ASX:MAU) has drilled two excellent thick intersections in its now completed initial RC drilling at Lady Julie 4 in Western Australia.
The intersections include 28m at 2.0g/t from 36m including 16m at 3.37g/t from 40m in MLJRC439 and 40m at 1.79g/t from 60m including 8m at 6.67g/t from 60m in MLJRC442.
Management says this early result is very encouraging and a follow up programme of 14 RC holes for 1720m over a large 700m strike length is being carried out.
Lady Julie 4 is only 2.5km north of Lady Julie 1 where the company intersected 17 thick high-grade intersections. Two of these include 25m at 4.38g/t from 0m in MLJRC348 and 36m at 4.01g/t from 116m in MLJRC406.
Seven deeper RC holes for 1540m (averaging 220m hole depth) are planned here to test for the further downdip extents which are open to the SE.
Multiple both thick and high-grade zones starting from surface are found at Lady Julie 1 after the most recent infill and extension drill programme.
The company said the width is expected to increase as these intersections in MLJRC406 and MLJRC404 are open to the east and down-dip.
Further drilling will test this expanded zone over a 600m x 350m area.
There are at least two separate stacked lodes present in this current drilling area with some thickening up to 64m in MLJRC406.
Within the HN5, HN6, HN9 and Lady Julie areas there are many new shallow intersections with a total of 1,543 intersections (ranging from one to 30m) greater than 0.5g/t Au, which includes 668 greater than 1g/t Au, 246 greater than 2g/t Au, 133 greater than 3g/t Au and 83 greater than 4g/t Au.
The recent 2D seismic survey combined with results from recent major drill programmes as well as historical drillings results have led to the interpretation of 15km of gold targets in 10 areas within HN5, HN6, HN9 and Lady Julie/
The best-looking target so far besides the three km-long HN9 mineralisation, is Lady Julie North (3.9km long) At Lady Julie North 1 there are many mineralised intersections including the outstanding intersection of 41m at 2.6g/t Au from 31m including 15m at 4.2g/t from 52m in MLJRC162, 25m at 4.4g/t from 0m in MLJRC348 and 64m at 2.4g/t from 88m in MLJRC406.
This zone between the two thrusts is very prospective and there are numerous NS workings, mineralised drillholes and anomalous soil geochemical areas, which are in the process of being drilled.
Both the mineralised targets at HN9 and Lady Julie North appear to straddle two deep seated thrusts, with HN9 being a major 3km-long mineralised zone. The eight thrust zones that come to surface continue to the north and south over an extensive 6km length and shallow RAB and or soil geochemistry is being planned to help outline any further anomalous gold areas worthy of follow up drilling.
At Lady Julie North 1, 2 and 4, the targets are compelling because they are associated with the two parallel Thrusts 7 and 8.
For further information please visit: https://magres.com.au/
