TORONTO, Dec. 19, 2024 /CNW/ - Mandalay Resources Corporation ("Mandalay" or the "Company") (TSX: MND) (OTCQB: MNDJF) is pleased to provide an update on near mine exploration success at its Björkdal operation in Sweden, highlighting the discovery of North Zone Below Marble – a new underground mineral domain 200 meters ("m") north of the current operations. This news release is the fourth in a series of updates on our 2024 exploration progress at Björkdal.
Figure 1. Perspective view of the Björkdal Mine looking towards the SW highlighting the interaction of the veining (Red), marble (Blue) and Björkdal fault (Yellow). Drilling from the 2024 near mine programs are displayed. (CNW Group/Mandalay Resources Corporation)
Figure 2. Plan section of North Zone below marble showing 2024 drilling and newly located veining. Intercepts above 0.5 g/t Au when diluted to 1 m are denoted by dots. Drillholes are annotated with composites over 2.0 g/t Au when diluted to 1 m. (CNW Group/Mandalay Resources Corporation)
Figure 3. Photograph of core from MU24-010 (178.9 g/t gold over 1.15 m (ETW 0.94 m) with insert showing close-up of visible gold and Tsumoite at 518.75m down hole. (CNW Group/Mandalay Resources Corporation)
Figure 4. Plan section of the Main Zone infill drilling. Intercepts above 0.5 g/t Au when diluted to 1 m are denoted by dots. Drillholes are annotated with composites over 2.0 g/t Au when diluted to 1 m. (CNW Group/Mandalay Resources Corporation)
Figure 5. Photograph of core from MU24-018 (16.8 g/t gold over 3.10 m (ETW 0.80 m). (CNW Group/Mandalay Resources Corporation)
Figure 6. Plan section of the Aurora Deeps Extension drilling. Intercepts above 0.5 g/t Au when diluted to 1 m are denoted by dots. Drillholes are annotated with composites over 2.0 g/t Au when diluted to 1 m. (CNW Group/Mandalay Resources Corporation)
Figure 7. Photograph of core from MU24-004 (3.4 g/t gold over 7.40 m (ETW 3.70 m). (CNW Group/Mandalay Resources Corporation)
North Zone Below Marble Discovery:
Identified 18 interpreted veins over a 400 m strike length and 250 m in height, located approximately 200 m from current development.
A maiden Mineral Resource estimate expected in Mandalay's year-end update (to be released February 2025), has the potential to add multiple years of mine life.
Key intercepts include:
178.9 g/t gold over 1.15 m(Estimated True Width "ETW" 0.94 m) and;
39.6 g/t gold over 3.90 m(ETW 2.76 m) in MU24-010 and;
69.4 g/t gold over 0.80 m(ETW 0.69 m) in MU24-024.
Main Zone Infill Drilling:
Continued success in Eastern Extension with intercepts:
115.8 g/t gold over 1.85 m (ETW 1.60 m) in MU24-018 and;
43.0 g/t gold over 1.55 m (ETW 1.34 m) in MU24-020.
Aurora Zone Extension:
Successful testing of a 200 m strike extension identified:
3.4 g/t gold over 7.40 m (ETW 3.70 m) in MU24-004 and;
3.9 g/t gold over 2.70 m (ETW 1.70 m) in MU24-001.
Note: Further intercept details including significant intercepts within composite intervals can be found in the Appendix to this document.
Chris Davis, VP of Exploration and Operational Geology, commented:
"Björkdal's near-mine exploration primarily targets higher margin resources. The newly discovered North Zone Below Marble exhibits consistent, high-grade veining approximately 200 m north of the current underground mine. The veining architecture is similar to the Main Zone, known for its consistently higher-grade ore. This discovery remains open at depth and along strike.
"Additionally, infill drilling in the Eastern Extension of the Main Zone has continued to demonstrate consistent veining and gold endowment through the zone. The Main Zone remains unbound and further extension is expected as appropriate drill platforms become available as mining progresses into the area.
"Lastly, exploration in the larger Aurora Zone has successfully identified wide gold-bearing veins at depth and to the east, approximately 180 m along strike of current mining operations. These intercepts reinforce Aurora's potential for extended delivery of bulk tonnage."
2024 Björkdal Near Mine Focus
Near mine exploration through 2024 has focused on three extension areas of the Björkdal deposit. 2023 exploration focused on veining to the north of Aurora above the marble horizon however with some keen incites from Björkdal geologists, the focus moved to below marble where, with targeting success, a significant portion of drilling through 2024 has continued.
Further to the south and along the eastern flank of the mine, the eastern extension of Main Zone has been a major source of exploration success and Reserve growth over the past years. In 2024, drilling in this area continued with an infill program targeting previously identified Inferred resources.
Additionally, and as appropriate drilling horizons became available, drilling continued to test the extensions of Aurora to the east and at depth. (see Figure 1).
North Zone Below Marble
Since late 2023 a total of 14 holes have been drilled from underground workings to the northwest intercepting a series of quartz veins. We are very excited that these veins are interpreted to be largely continuous through the tested areas and, in many instances, exhibit visible gold. Above the marble horizon, to the south of this discovery, the Aurora system was the dominant feature and veining directly below Aurora was sparse. Through analytical work, and forward modelling of kinematic indicators, Mandalay geologists came to the understanding that further north should be a conducive environment for gold endowment within the Björkdal deposit. This body of work also anticipates the presence of further fault structures at depth that mimic the important role in mineralisation that the Björkdal shear plays through much of the deposit. This means that the veining with the North Zone Below Marble domain is likely to exhibit larger vertical extents.
Within the 14 holes drilled, a total of 193 significant sample composites have been assayed across 18 veins currently interpreted. In addition to these stated drilling highlights, this program has also produced 43.9 grams per tonne gold over a length of 1.10 m (ETW 0.71 m in MU24-006, 6.1 grams per tonne gold over a length of 3.85 m (ETW 3.62 m in MU24-008 and 42.9 grams per tonne gold over a length of 0.80 m (ETW 0.69 m in MU24-024. (Figure 2.)
Core drilled during the program has been oriented so that further structural analyses can be undertaken. Veining is shown to be largely vertical to northwest dipping in geometry and consists largely of quartz with varying amounts of scheelite, tsumoite and of course, visible gold (Figure 3).
Unfortunatly the drill rigs used for this campaign were limited in their drill capacity and many of the drill holes ended within the mineral domain, hence the domain is still open further to the northwest, southwest and at depth. As we progress underground development deeper within Aurora, more appropriate drilling platforms will be made available to ensure greater extent and ideal orientations maximised. Drilling to test the limits of this new domain is expected to commence in 2025.
Main Zone Infill Drilling (part of Eastern Extension)
The Björkdal deposit is split into a number of domains based on mineralisation characteristics. Main Zone has been a consistent source of higher-grade ore since underground production commenced in 2008. Veining within the domain terminates at its upper extent at the Björkdal shear however it is open down plunge to the east. Since 2021, Main Zone has been explored and extended to the east through a series of drilling campaigns. In 2024, an infill drilling program was executed targeting the Inferred resource discovered in 2023. The drilling confirmed gold bearing veins that are typical of the Main Zone with encouraging assay results returned. Some highlights, additional to the previously stated, are 16.8 grams per tonne gold over a length of 3.1 m (ETW 0.8 m in MU24-018 and 59.3 grams per tonne gold over a length of 0.40 m (ETW 0.35 m in MU24-022. (Figure 4)
The veining within the infill drilling presents as the characteristic sub vertical sheeted arrays with some crosscutting veining evident. Mineralization also looks typical of Main Zone with visible gold located in a number of intercepts alongside sulphide minerals such at pyrite and pyrrhotite with scheelite and bismuth telluride compounds also present.
Due to the eastward plunge of Main Zone and the positioning of mine development, the further testing of veining becomes difficult with less desirable angles of intercept when targeting above 250 metres from development, therefore further extension drilling awaits mine development progression and dedicated drilling positions. The deposit however does not show signs of lessening grade and it is still open down plunge to the east.
Aurora Deeps
Since production began from Aurora in 2018, the Aurora domain has been a significant source of bulk tonnage for Björkdal with some stopes extending to over 10 metres in width. At the heart of the domain is the Aurora orebody itself which is hosted within a pre-existing shear and consists of a range mineralisation characteristics with gold bearing veinlet arrays grading to massive quartz veins. This orebody is accompanied both in the hanging and footwall by northwest dipping quartz veins that also carry gold.
The 2024 drilling campaign looked to extend Aurora mineralisation to the east. This program was successful in finding eastward continuation approximately 200 metres from current development. Two intercepts standout as significant grades within this area and are likely to be the continuation of Aurora mineralisation. These are 3.4 grams per tonne gold over 7.40 m (ETW 3.70 m) in MU24-004 and 3.9 grams per tonne gold over 2.70 m (ETW 1.70 m) in MU24-001. (Figure 6.)
Consistent with Aurora, the veining is of greater width then other domains within Björkdal and exhibits free gold within quartz (Figure 7). In general, however there is a lower amount of veining surrounding the Aurora intercepts at this point. Continued drilling will look to infill and further extend Aurora to the east.
In 2025 Mandalay will continue to explore both the underground northern and eastern extensions of the Björkdal deposit into these areas of high potential as appropriate drill horizons become available. This near mine exploration will be accompanied by further surface drilling as Mandalay builds its knowledge around the exciting and expanding Storheden and Norrberget deposits (reported in April and May of 2024) that have the potential to be significant additions to Björkdal's future.
Drilling and Assaying
At Björkdal, all diamond drill core was logged and sampled by Björkdal geologists. Exploration drill hole samples were sent to CRS Laboratories Oy ("CRS") in Kempele, Finland for sample preparation and assaying.
Assaying was conducted utilizing the Pal1000 cyanide leaching processes. Mandalay's rigorous QA/QC program included the use of standard reference samples, blanks, duplicates, repeats, and internal laboratory quality assurance procedures. (see March 30, 2023, Technical Report entitled "Technical Report on the Björkdal Gold Mine, Sweden", available on SEDAR (www.sedar.com), which contains a complete description of drilling, sampling, and assaying procedures).
Qualified Person:
Chris Davis, Vice President of Operational Geology and Exploration at Mandalay Resources, is a Chartered Professional of the Australasian Institute of Mining and Metallurgy (MAusIMM CP(Geo)), as well as a Member of the Australian Institute of Geoscientists (MAIG) and a Qualified Person as defined by NI 43-101. He has reviewed and approved the technical and scientific information provided in this release.
About Mandalay Resources Corporation
Mandalay Resources is a Canadian-based natural resource company with producing assets in Australia (Costerfield gold-antimony mine) and Sweden (Björkdal gold mine), with projects in Chile and Canada under closure or development status. The Company is focused on growing its production and reducing costs to generate significant positive cashflow. Mandalay is committed to operating safely and in an environmentally responsible manner, while developing a high level of community and employee engagement.
Mandalay's mission is to create shareholder value through the profitable operation and continuing the regional exploration program, at both its Costerfield and Björkdal mines. Currently, the Company's main objective is to continue mining the high-grade Youle vein at Costerfield, bring online the deeper Shepherd veins, both of which will continue to supply high-grade ore to the processing plant, and to extend Youle Mineral Reserves. At Björkdal, the Company will aim to increase production from the Aurora Zone and other higher-grade areas in the coming years, in order to maximize profit margins from the mine.
Forward-Looking Statements:
This news release contains "forward-looking statements" within the meaning of applicable securities laws, including statements regarding the exploration and development potential of the exploration results disclosed. Readers are cautioned not to place undue reliance on forward-looking statements. Actual results and developments may differ materially from those contemplated by these statements depending on, among other things, changes in commodity prices and general market and economic conditions. The factors identified above are not intended to represent a complete list of the factors that could affect Mandalay. A description of additional risks that could result in actual results and developments differing from those contemplated by forward-looking statements in this news release can be found under the heading "Risk Factors" in Mandalay's annual information form dated March 28, 2024, a copy of which is available under Mandalay's profile at www.sedar.com. In addition, there can be no assurance that any Inferred resources that are discovered as a result of additional drilling will ever be upgraded to proven or probable reserves. Although Mandalay has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.
Appendix
Table 1. Significant Intercepts from the North Zone Below Marble drilling program.
DRILL HOLE ID
FROM (M)
TO (M)
INTERVAL (M)
ESTIMATED TRUE WIDTH (M)
AU GRADE (G/T)
AU (G/T) OVER MIN. 1M WIDTH
MU23-042
10.90
11.85
0.95
0.48
3.1
1.5
MU23-042
30.30
33.40
3.10
1.06
1.7
1.7
MU23-042
36.00
36.75
0.75
0.61
3.5
2.1
MU23-042
109.60
110.15
0.55
0.28
2.6
0.7
MU23-042
418.40
419.50
1.10
0.55
2.5
1.4
MU23-042
451.20
452.40
1.20
0.60
0.8
0.5
MU23-043
15.35
15.85
0.50
0.38
1.6
0.6
MU23-043
18.00
18.35
0.35
0.35
7.6
2.6
MU23-043
21.15
22.10
0.95
0.54
1.2
0.7
MU23-043
204.15
205.30
1.15
0.39
2.8
1.1
MU23-044
12.60
13.10
0.50
0.38
8.5
3.2
MU23-044
17.40
18.05
0.65
0.65
2.2
1.4
MU23-044
31.90
33.80
1.90
1.22
13.7
13.7
MU23-044
168.00
169.20
1.20
0.41
5.8
2.4
MU23-044
201.00
201.50
0.50
0.35
4.4
1.5
MU23-044
250.75
251.30
0.55
0.35
2.8
1.0
MU23-044
253.45
256.15
2.70
0.70
4.4
3.1
MU23-044
262.70
263.10
0.40
0.28
4.8
1.3
MU23-044
309.60
310.20
0.60
0.39
2.7
1.0
MU23-044
380.10
381.00
0.90
0.45
1.4
0.6
MU23-044
424.70
426.20
1.50
1.30
1.1
1.1
MU23-044
427.55
428.00
0.45
0.26
3.5
0.9
MU23-044
482.90
483.55
0.65
0.59
12.7
7.5
MU23-044
523.10
523.60
0.50
0.35
2.0
0.7
MU23-044
529.10
531.75
2.65
2.29
6.3
6.3
MU23-044
534.45
535.30
0.85
0.70
0.8
0.6
MU23-044
539.70
540.35
0.65
0.56
1.9
1.0
MU23-044
540.85
541.35
0.50
0.43
1.6
0.7
MU23-044
542.75
543.30
0.55
0.45
2.0
0.9
MU23-044
544.20
548.40
4.20
3.22
3.2
3.2
MU23-044
549.30
550.00
0.70
0.54
1.0
0.5
MU23-044
556.40
557.35
0.95
0.32
2.0
0.6
MU23-044
562.00
562.50
0.50
0.47
19.5
9.2
MU23-044
594.85
595.60
0.75
0.43
1.3
0.6
MU23-058
81.70
82.15
0.45
0.29
2.9
0.8
MU23-058
141.60
142.70
1.10
0.52
5.5
2.9
MU23-058
228.05
229.70
1.65
0.83
2.3
1.9
MU23-058
239.80
241.20
1.40
0.24
21.7
5.2
MU23-058
246.50
247.65
1.15
0.58
15.3
8.9
MU23-058
259.80
260.45
0.65
0.22
3.7
0.8
MU23-058
268.80
269.40
0.60
0.50
125.0
62.5
MU23-058
273.60
274.00
0.40
0.31
5.9
1.8
MU23-058
306.00
309.15
3.15
2.02
2.6
2.6
MU23-058
357.65
360.60
2.95
1.25
2.9
2.9
MU23-058
378.10
378.60
0.50
0.41
3.8
1.6
MU23-058
401.30
402.10
0.80
0.40
1.3
0.5
MU23-059
252.10
253.00
0.90
0.69
9.3
6.4
MU23-059
284.50
285.40
0.90
0.52
1.6
0.8
MU23-059
346.60
347.00
0.40
0.33
8.2
2.7
MU23-059
366.60
367.50
0.90
0.82
1.9
1.5
MU23-059
373.10
373.70
0.60
0.46
1.6
0.7
MU23-059
404.85
405.60
0.75
0.53
21.9
11.6
MU23-059
417.50
418.75
1.25
1.02
3.3
3.3
MU23-059
439.05
439.60
0.55
0.48
1.9
0.9
MU23-059
467.20
467.90
0.70
0.54
8.6
4.6
MU23-059
494.15
495.00
0.85
0.73
1.0
0.7
MU23-059
495.85
496.50
0.65
0.56
1.6
0.9
MU23-059
506.85
508.75
1.90
1.46
4.5
4.5
MU23-059
543.55
544.00
0.45
0.34
2.8
1.0
MU23-059
559.40
560.00
0.60
0.49
7.3
3.6
MU23-059
564.50
565.60
1.10
0.95
0.8
0.8
MU23-059
567.50
568.10
0.60
0.52
2.9
1.5
MU23-059
591.35
592.30
0.95
0.48
2.4
1.1
MU23-061
173.00
173.70
0.70
0.78
2.5
1.9
MU23-061
239.40
240.00
0.60
0.46
10.5
4.8
MU23-061
332.15
333.00
0.85
0.65
3.0
1.9
MU23-061
403.65
404.50
0.85
0.55
1.0
0.5
MU23-061
407.90
408.35
0.45
0.29
2.9
0.8
MU23-061
479.10
479.60
0.50
0.43
1.5
0.6
MU23-061
482.70
483.50
0.80
0.51
2.0
1.0
MU23-061
549.20
550.15
0.95
0.50
2.1
1.1
MU24-006
121.70
122.35
0.65
0.42
6.2
2.6
MU24-006
224.55
225.45
0.90
0.58
1.2
0.7
MU24-006
304.30
304.80
0.50
0.32
1.9
0.6
MU24-006
334.40
335.70
1.30
1.13
0.9
0.9
MU24-006
354.70
355.80
1.10
0.71
43.9
31.0
MU24-006
522.90
523.60
0.70
0.61
1.3
0.8
MU24-006
559.60
562.00
2.40
2.08
1.4
1.4
MU24-006
570.20
570.95
0.75
0.57
5.3
3.0
MU24-006
588.05
588.65
0.60
0.56
9.1
5.1
MU24-007
59.95
61.10
1.15
0.49
1.2
0.6
MU24-007
83.30
84.00
0.70
0.54
1.3
0.7
MU24-007
414.10
415.00
0.90
0.64
1.3
0.8
MU24-007
417.20
417.85
0.65
0.59
3.0
1.8
MU24-007
423.10
423.70
0.60
0.54
1.6
0.8
MU24-007
424.80
429.20
4.40
3.99
1.4
1.4
MU24-007
437.40
437.90
0.50
0.43
6.1
2.7
MU24-007
441.00
441.60
0.60
0.52
2.1
1.1
MU24-007
459.50
460.40
0.90
0.58
1.2
0.7
MU24-007
515.60
516.45
0.85
0.65
1.4
0.9
MU24-007
520.05
520.95
0.90
0.58
8.0
4.6
MU24-007
563.10
564.00
0.90
0.64
7.4
4.7
MU24-008
50.00
50.90
0.90
0.69
1.0
0.7
MU24-008
272.25
272.80
0.55
0.48
1.1
0.5
MU24-008
278.15
279.00
0.85
0.55
0.9
0.5
MU24-008
329.00
329.55
0.55
0.35
3.4
1.2
MU24-008
349.50
350.10
0.60
0.39
2.0
0.8
MU24-008
434.50
435.40
0.90
0.58
0.9
0.5
MU24-008
580.85
581.45
0.60
0.54
1.2
0.6
MU24-008
614.50
618.35
3.85
3.62
6.1
6.1
MU24-008
621.00
621.80
0.80
0.57
1.7
1.0
MU24-009
216.35
217.10
0.75
0.57
4.5
2.6
MU24-009
229.35
230.30
0.95
0.73
2.6
1.9
MU24-009
260.40
261.35
0.95
0.73
2.0
1.5
MU24-009
290.60
291.40
0.80
0.61
2.9
1.8
MU24-009
307.60
309.20
1.60
1.03
1.2
1.2
MU24-009
312.90
313.60
0.70
0.40
10.5
4.2
MU24-009
327.05
328.00
0.95
0.32
6.9
2.2
MU24-009
376.80
377.70
0.90
0.52
25.0
12.9
MU24-009
404.70
405.30
0.60
0.39
1.3
0.5
MU24-009
483.00
483.80
0.80
0.61
0.8
0.5
MU24-009
492.45
493.00
0.55
0.48
1.9
0.9
MU24-009
568.30
569.00
0.70
0.35
4.0
1.4
MU24-010
185.40
186.30
0.90
0.64
4.2
2.7
MU24-010
199.00
200.30
1.30
0.55
5.4
3.0
MU24-010
255.25
255.95
0.70
0.49
2.5
1.3
MU24-010
274.35
275.25
0.90
0.69
1.7
1.2
MU24-010
329.05
329.75
0.70
0.40
3.4
1.4
MU24-010
355.85
356.55
0.70
0.54
9.3
5.0
MU24-010
412.00
412.70
0.70
0.49
1.9
0.9
MU24-010
414.40
415.00
0.60
0.46
2.8
1.3
MU24-010
416.60
417.80
1.20
0.92
15.0
13.8
MU24-010
486.15
486.90
0.75
0.57
0.9
0.5
MU24-010
517.75
518.90
1.15
0.94
178.9
168.5
MU24-010
522.70
523.30
0.60
0.52
2.6
1.4
MU24-010
528.00
529.80
1.80
1.63
4.1
4.1
MU24-010
539.20
543.10
3.90
2.76
39.6
39.6
MU24-010
558.20
559.20
1.00
0.57
1.1
0.6
MU24-010
566.20
566.70
0.50
0.25
2.0
0.5
MU24-010
572.40
573.00
0.60
0.30
9.7
2.9
MU24-023
48.70
49.40
0.70
0.45
3.8
1.7
MU24-023
232.10
232.90
0.80
0.51
1.1
0.5
MU24-023
490.50
491.20
0.70
0.45
1.1
0.5
MU24-023
501.40
502.00
0.60
0.46
1.2
0.5
MU24-023
523.15
523.80
0.65
0.56
1.1
0.6
MU24-023
532.00
532.90
0.90
0.64
3.7
2.3
MU24-023
535.90
536.40
0.50
0.43
1.9
0.8
MU24-023
541.60
545.25
3.65
3.16
2.7
2.7
MU24-023
566.30
567.50
1.20
0.77
2.4
1.8
MU24-023
575.75
576.50
0.75
0.53
1.8
1.0
MU24-023
578.40
579.10
0.70
0.49
1.6
0.8
MU24-023
586.25
588.15
1.90
1.22
5.9
5.9
MU24-024
275.10
276.00
0.90
0.58
7.7
4.4
MU24-024
408.70
409.50
0.80
0.69
43.0
29.8
MU24-024
485.00
485.80
0.80
0.69
69.4
48.1
MU24-024
497.50
498.00
0.50
0.25
7.7
1.9
MU24-024
507.80
508.80
1.00
0.77
1.8
1.4
MU24-024
579.50
581.40
1.90
1.46
2.3
2.3
MU24-024
587.00
587.60
0.60
0.56
7.3
4.1
MU24-024
594.00
595.40
1.40
1.21
2.9
2.9
MU24-025
231.00
231.65
0.65
0.33
5.5
1.8
MU24-025
298.95
299.50
0.55
0.39
3.2
1.2
MU24-025
357.00
357.90
0.90
0.58
2.0
1.1
MU24-025
370.70
371.30
0.60
0.46
1.1
0.5
Notes:
1.
Where true widths are greater than 1m, grades are not diluted and are presented as the grade over the composite true width.
2.
Composites that are below 0.5 g/t Au when diluted to 1 m are not reported in this table.
Table 2. Significant Intercepts from the Main Zone infill drilling program.
DRILL HOLE ID
FROM (M)
TO (M)
INTERVAL (M)
ESTIMATED TRUE WIDTH (M)
AU GRADE (G/T)
AU (G/T) OVER MIN. 1M WIDTH
MU24-018
68.70
69.30
0.60
0.52
3.8
2.0
MU24-018
108.70
109.20
0.50
0.43
22.9
9.9
MU24-018
128.85
129.20
0.35
0.30
3.3
1.0
MU24-018
145.50
146.50
1.00
0.77
7.6
5.8
MU24-018
150.90
151.70
0.80
0.61
0.8
0.5
MU24-018
156.80
157.30
0.50
0.43
9.6
4.1
MU24-018
164.80
165.60
0.80
0.61
9.4
5.8
MU24-018
180.50
181.25
0.75
0.48
1.7
0.8
MU24-018
192.60
193.50
0.90
0.58
3.0
1.7
MU24-018
195.50
196.40
0.90
0.58
1.3
0.7
MU24-018
199.00
200.00
1.00
0.64
2.1
1.3
MU24-018
201.00
201.90
0.90
0.58
0.9
0.5
MU24-018
212.00
213.00
1.00
0.94
1.1
1.0
MU24-018
219.20
220.00
0.80
0.73
2.1
1.5
MU24-018
259.40
260.30
0.90
0.78
0.9
0.7
MU24-018
262.60
265.70
3.10
0.80
16.8
13.5
MU24-018
290.15
292.00
1.85
1.60
115.8
115.8
MU24-018
295.00
299.00
4.00
3.76
1.2
1.2
MU24-018
320.20
321.50
1.30
0.84
1.6
1.3
MU24-019
81.00
82.10
1.10
1.03
9.9
9.9
MU24-019
119.80
121.40
1.60
1.03
6.9
6.9
MU24-019
154.00
156.25
2.25
1.95
3.1
3.1
MU24-019
169.05
170.10
1.05
0.91
1.9
1.7
MU24-019
182.35
184.20
1.85
0.93
7.7
7.2
MU24-019
195.70
198.50
2.80
1.80
1.9
1.9
MU24-019
204.00
204.50
0.50
0.38
12.0
4.6
MU24-019
221.75
224.30
2.55
1.64
2.1
2.1
MU24-019
251.30
251.90
0.60
0.46
1.9
0.9
MU24-019
255.10
255.80
0.70
0.54
1.7
0.9
MU24-019
291.60
292.20
0.60
0.52
2.3
1.2
MU24-019
302.35
302.85
0.50
0.17
67.6
11.6
MU24-020
134.00
134.40
0.40
0.20
12.1
2.4
MU24-020
147.60
148.15
0.55
0.52
2.3
1.2
MU24-020
157.00
159.30
2.30
1.48
1.0
1.0
MU24-020
174.20
177.00
2.80
1.80
4.9
4.9
MU24-020
183.60
184.45
0.85
0.65
1.9
1.2
MU24-020
188.65
189.20
0.55
0.42
1.4
0.6
MU24-020
190.00
191.00
1.00
0.77
4.4
3.4
MU24-020
201.90
202.50
0.60
0.46
1.2
0.6
MU24-020
208.90
211.00
2.10
1.97
1.0
1.0
MU24-020
235.75
237.60
1.85
0.63
6.3
4.0
MU24-020
264.65
266.20
1.55
1.34
43.0
43.0
MU24-021
81.00
82.00
1.00
0.87
1.4
1.2
MU24-021
101.80
102.60
0.80
0.69
1.2
0.8
MU24-021
119.60
120.55
0.95
0.82
12.0
9.9
MU24-021
191.85
192.75
0.90
0.78
1.1
0.8
MU24-021
197.00
198.00
1.00
0.87
1.0
0.9
MU24-021
209.00
209.70
0.70
0.61
9.9
6.0
MU24-021
219.50
220.10
0.60
0.52
3.8
2.0
MU24-021
233.70
234.30
0.60
0.52
21.4
11.1
MU24-021
263.30
264.10
0.80
0.69
1.0
0.7
MU24-022
194.10
194.50
0.40
0.35
59.3
20.5
MU24-022
230.00
231.00
1.00
0.87
1.5
1.3
MU24-022
254.00
255.00
1.00
0.87
1.7
1.4
MU24-022
284.00
285.00
1.00
0.87
0.8
0.7
Notes:
1.
Where true widths are greater than 1 m, grades are not diluted and are presented as the grade over the composite true width.
2.
Composites that are below 0.5 g/t Au when diluted to 1 m are not reported in this table.
Table 3. Significant Intercepts from the Aurora Extension drilling program.
DRILL HOLE ID
FROM (M)
TO (M)
INTERVAL (M)
ESTIMATED TRUE WIDTH (M)
AU GRADE (G/T)
AU (G/T) OVER MIN. 1M WIDTH
MU23-053
411.90
414.15
2.25
1.92
3.8
3.8
MU23-053
433.00
434.00
1.00
0.85
0.9
0.7
MU23-053
436.15
437.15
1.00
0.85
1.9
1.6
MU23-054
257.55
258.20
0.65
0.22
3.7
0.8
MU23-054
265.40
266.10
0.70
0.24
3.2
0.8
MU23-054
339.50
340.00
0.50
0.17
7.8
1.3
MU23-054
403.30
406.55
3.25
1.63
1.9
1.9
MU23-054
463.00
463.80
0.80
0.40
4.6
1.8
MU23-055
246.70
247.20
0.50
0.32
8.0
2.6
MU23-055
266.30
267.20
0.90
0.58
1.2
0.7
MU23-055
298.35
298.75
0.40
0.14
31.3
4.4
MU23-055
341.00
342.10
1.10
0.55
1.2
0.7
MU23-055
348.85
350.40
1.55
0.78
3.2
2.5
MU23-055
417.30
418.35
1.05
0.67
1.7
1.2
MU23-056
264.10
265.90
1.80
0.61
1.9
1.1
MU23-056
430.15
431.45
1.30
0.55
57.3
31.5
MU23-056
435.50
436.15
0.65
0.50
17.6
8.8
MU23-056
462.00
462.90
0.90
0.57
2.4
1.4
MU23-056
488.80
489.10
0.30
0.19
4.6
0.9
MU23-057
296.40
296.90
0.50
0.25
2.5
0.6
MU23-057
373.00
373.70
0.70
0.54
2.0
1.1
MU23-057
476.50
477.10
0.60
0.16
3.6
0.6
MU24-001
124.40
125.40
1.00
0.50
2.2
1.1
MU24-001
325.20
327.60
2.40
1.70
3.9
3.9
MU24-001
416.00
416.55
0.55
0.50
1.5
0.8
MU24-002
64.10
64.80
0.70
0.61
1.3
0.8
MU24-002
346.60
347.20
0.60
0.52
4.4
2.3
MU24-003
19.40
20.00
0.60
0.34
13.3
4.6
MU24-003
154.30
155.30
1.00
0.64
0.8
0.5
MU24-003
331.00
331.85
0.85
0.60
1.6
1.0
MU24-003
442.60
443.60
1.00
0.77
1.4
1.0
MU24-004
18.75
19.10
0.35
0.25
42.7
10.6
MU24-004
73.05
74.05
1.00
0.34
1.5
0.5
MU24-004
296.65
296.95
0.30
0.15
5.6
0.8
MU24-004
344.80
352.20
7.40
3.70
3.4
3.4
MU24-004
390.45
390.80
0.35
0.15
3.6
0.5
MU24-004
400.50
400.80
0.30
0.15
46.3
6.9
MU24-004
434.70
435.00
0.30
0.13
10.8
1.4
MU24-004
465.00
465.40
0.40
0.28
2.5
0.7
MU24-005
22.80
23.60
0.80
0.51
1.2
0.6
MU24-005
410.80
411.30
0.50
0.25
32.2
8.1
MU24-005
418.40
419.00
0.60
0.34
3.4
1.2
MU24-005
425.70
426.60
0.90
0.31
1.6
0.5
MU24-005
437.75
438.55
0.80
0.21
2.7
0.6
MU24-005
449.80
450.80
1.00
0.17
4.4
0.8
MU24-005
484.50
485.50
1.00
0.34
3.4
1.2
MU24-026
160.90
161.90
1.00
0.50
1.7
0.9
MU24-027
37.00
37.50
0.50
0.25
2.3
0.6
MU24-027
127.00
128.00
1.00
0.50
1.3
0.6
MU24-027
139.00
144.60
5.60
2.80
1.2
1.2
MU24-028
25.00
26.00
1.00
0.50
1.6
0.8
MU24-028
385.30
386.00
0.70
0.35
5.8
2.0
MU24-029
17.80
18.70
0.90
0.45
1.6
0.7
MU24-029
24.10
24.70
0.60
0.30
2.6
0.8
MU24-029
63.00
65.00
2.00
1.00
4.5
4.5
MU24-029
71.30
72.30
1.00
0.50
1.8
0.9
MU24-029
103.10
105.10
2.00
1.00
5.1
5.1
MU24-029
332.30
333.30
1.00
0.50
3.9
2.0
MU24-029
427.60
428.60
1.00
0.50
2.3
1.2
Notes:
3.
Where true widths are greater than 1 m, grades are not diluted and are presented as the grade over the composite true width.
4.
Composites that are below 0.5 g/t Au when diluted to 1 m are not reported in this table.
Table 4. Drill Hole Collar Details
DRILL PROGRAM
DRILL HOLE ID
NORTHING
EASTING
ELEVATION
DEPTH
DIP
AZIMUTH
DATE COMPLETE
NORTH ZONE BELOW MARBLE
MU23-042
763282
7213197
-282
599.30
-38.4
348.0
13-Oct-23
NORTH ZONE BELOW MARBLE
MU23-043
763281
7213196
-282
580.00
-36.0
313.0
23-Aug-23
NORTH ZONE BELOW MARBLE
MU23-044
763281
7213197
-282
605.10
-38.3
333.2
18-Sep-23
NORTH ZONE BELOW MARBLE
MU23-058
763299
7213282
-386
438.10
-16.1
305.9
21-Dec-23
NORTH ZONE BELOW MARBLE
MU23-059
763299
7213282
-386
600.00
-25.2
314.0
1-Dec-23
NORTH ZONE BELOW MARBLE
MU23-061
763300
7213283
-386
596.60
-30.8
321.3
15-Jan-24
NORTH ZONE BELOW MARBLE
MU24-006
763299
7213281
-386
596.60
-17.1
300.0
12-Feb-24
NORTH ZONE BELOW MARBLE
MU24-007
763289
7213274
-385
619.65
-12.1
297.3
22-Mar-24
NORTH ZONE BELOW MARBLE
MU24-008
763289
7213276
-386
623.60
-28.1
319.7
26-May-24
NORTH ZONE BELOW MARBLE
MU24-009
763289
7213275
-385
630.60
-8.2
297.9
30-Apr-24
NORTH ZONE BELOW MARBLE
MU24-010
763289
7213276
-385
579.20
-19.1
310.0
3-Mar-24
NORTH ZONE BELOW MARBLE
MU24-023
763289
7213275
-385
629.45
-9.3
294.0
10-Aug-24
NORTH ZONE BELOW MARBLE
MU24-024
763290
7213276
-386
611.70
-25.2
315.1
8-Sep-24
NORTH ZONE BELOW MARBLE
MU24-025
763289
7213275
-386
630.10
-23.6
304.8
18-Jun-24
MAIN ZONE INFILL
MU24-018
764418
7213272
-373
336.10
-28.5
345.9
4-May-24
MAIN ZONE INFILL
MU24-019
764418
7213272
-373
303.30
-34.1
353.5
11-May-24
MAIN ZONE INFILL
MU24-020
764418
7213272
-373
399.20
-27.9
356.2
29-May-24
MAIN ZONE INFILL
MU24-021
764418
7213272
-373
270.20
-34.2
2.2
12-Jun-24
MAIN ZONE INFILL
MU24-022
764418
7213272
-373
300.00
-27.0
15.9
19-Jun-24
AURORA EXTENION
MU23-053
763715
7213333
-232
462.30
-46.3
2.0
30-Aug-23
AURORA EXTENION
MU23-054
763714
7213334
-231
471.40
-42.3
5.0
15-Sep-23
AURORA EXTENION
MU23-055
763715
7213334
-232
450.30
-39.9
3.6
27-Sep-23
AURORA EXTENION
MU23-056
763715
7213334
-232
501.10
-41.4
12.4
14-Oct-23
AURORA EXTENION
MU23-057
763715
7213333
-232
501.20
-39.9
16.9
29-Oct-23
AURORA EXTENION
MU24-001
763732
7213324
-315
500.00
-35.4
8.0
21-Dec-23
AURORA EXTENION
MU24-002
763731
7213324
-315
351.30
-22.8
14.0
2-Jan-24
AURORA EXTENION
MU24-003
763732
7213324
-315
505.00
-36.0
15.5
23-Jan-24
AURORA EXTENION
MU24-004
763731
7213324
-315
483.00
-29.6
18.3
8-Feb-24
AURORA EXTENION
MU24-005
763730
7213322
-315
504.30
-31.8
22.3
15-Jan-24
AURORA EXTENION
MU24-026
763711
7213333
-340
450.20
-33.1
20.9
11-Jul-24
AURORA EXTENION
MU24-027
763711
7213333
-340
500.20
-33.5
27.4
21-Aug-24
AURORA EXTENION
MU24-028
763712
7213334
-340
402.30
-24.4
28.1
1-Sep-24
AURORA EXTENION
MU24-029
763712
7213334
-340
499.90
-30.7
25.3
23-Sep-24
Notes:
1.
Coordinate System: SWEREF 99
SOURCE Mandalay Resources Corporation
For Further Information: Frazer Bourchier, Director, President and Chief Executive Officer; Edison Nguyen, Director, Business Valuations and Investor Relations, Contact: 647.258.9722
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