Metal Bank Limited (ASX: MBK) has hits shallow gold mineralisation in exploration at the Stanley prospect, within its Livingstone gold project, in Western Australia.
Highlights:
RC drilling results include:
o 2m @ 4.34g/t Au from 40m (ST22RC008)
o 5m @ 2.76g/t Au from 15m (ST22RC009)
- New drilling results show a coherent zone of gold mineralisation over 150m in
strike exists and remains open to the east and west
- Drilling was designed to test along strike gold identified from historical drilling
- Stanley prospect is one of many greenfield gold targets within the Livingstone
project that will be drill tested in 2023
Assays from the nine reverse circulation (RC) holes at the Stanley prospect and two RC holes at the Stella prospect have been received. These holes formed part of the Livingstone Phase 2 drilling programme, completed in early September.
“The Livingstone project is an exciting large area of gold prospects that we are progressively realising exploration success with,” Chair, Inés Scotland, said.
“We continue to assess the area for its multi-commodity and critical mineral prospectivity. Concurrently, we are working to increase the confidence and upgrade reported gold resources from Inferred into Indicated in some of the deposits.”
Stanley RC results
Stanley prospect, located two km northeast of the Livingstone North Prospect, represents one of many early-stage Au prospects within the Livingstone Project. The Stanley ‘trend’ is dominated by a four km long, East-West gold-in soil anomaly with limited drill testing.
Historical drilling at the prospect intercepted shallow gold mineralisation (KLAC105 – 1m @ 0.56g/t Au from 12m, 2m @ 0.98 g/t Au from 24m and 1m @ 1.52g/t Au from 36m depth)1 demonstrating potential. However, these results were never followed up.
MBK identified the strike potential in this area and conducted seven initial test holes which were completed as part of its 2022 Phase 2 drilling programme.
Initial results have been received and show a coherent zone of shallow gold mineralisation extending over at least 150m strike length, which remains open to the east and west.
Here, as with the Kingsley, Kingsley East and Livingstone North deposits, gold mineralisation is associated with quartz-tourmaline-albite breccias in brittle host rocks.
Two RC scout holes were also drilled at the Stella prospect, 2.5km west of Stanley. SA22RC001 intercepted shallow gold (4.0m @ 0.67g/t Au). The Stanley – Stella trend represents a compelling target zone for future drill testing.
Results will be interpreted in the context of MBK’s ongoing structural review of mineralisation at Livingstone. Gold-bearing sites are controlled by competent, brittle lithologies such as quartz veins, quartz pods, and psammite units and brecciated footwalls of possible thrust faults.
Gold targets
In addition to Stanley and Stella, the Livingstone project hosts a multitude of gold targets that have limited drill testing including Dampier and Drake along strike to the west of Livingstone North; Hilltop and VHF located in the eastern part of the project; and numerous other unnamed greenfield gold-in- soil anomalies/targets which will be the focus of exploration drilling in 2023.
For further information please visit: https://metalbank.com.au/
