Magnetic Resources (ASX:MAU) continues to hit thick gold intersections at the Lady Julie North 4 deposit in Western Australia.
Lady Julie North 4 has numerous thick new intersections and will now be tested over an expanded one km x 200m area, which importantly is open down dip and at depth and to the SSE.
To date 41 RC holes for 4,563m and five AC for 219m drill programmes were completed at Lady Julie North 4 and 18 RC holes for 2,936m are planned here after some promising further RC results.
The best intersection to date at Lady Julie North 4 is 56m at 2.23g/t Au from 96m and includes 20m at 4.97g/t from 104m In MLJRC632 which is down dip from a previous intersection of 33m at 0.85g/t from 95m in MLJRC463.
This high-grade core zone is a promising thick zone and will be investigated with further infill holes to the north and importantly to the south where this mineralisation remains open. In addition, a strong pyrite chert alteration has been logged for the first time and correlates with his highest-grade part of the core zone that has 20m at 4.97g/t from 104m in MLJRC632.
The extent of this alteration within the surrounding holes will be examined when the RC chip logging has been completed.
The Lady Julie North 4 deposit is only 2.5km North 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.
Maiden Combined Resources of 13.1Mt @ 1.22g/t Au totalling 511,000oz of gold at a 0.5g/t for the Laverton Project were announced in June 2022.
The Lady Julie North 4 (Indicated and Inferred) Resource of 2.7Mt at 1.27g/t for 109,000oz and forms part of the Lady Julie Combined Resources (Indicated and Inferred) of 5.4Mt at 1.27g/t for 224,000oz.
This long 1km x 200m target zone at Lady Julie 4 is being infill drilled with a programme of 18 RC holes for 2,936m with most of these holes looking to extend the down dip extent of the mineralisation at depth and to test the SSE extension and to fully define the thickened high-grade core.
Ten large 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.
For further information please visit: https://magres.com.au/
