Announcement Date: 2022-07-20
Announcement Type: Drilling Results
Announcement Code: JORC
Company name: Magnetic Resources NL
Project name: HN9
Location: Australia
Commodities: Gold
Highlight: Drilling results incl. 56m @ 2.23g/t Au from 96m
Resources: only available to subscribers
CP/QP: only available to subscribers
Announcement summary: The Lady Julie North 4 deposit has numerous thick new intersections and will be tested over an expanded 1km x 200m area and importantly is open down dip and at depth and to the SSE. The 41 RC holes for 4,563m and 5 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 Figure 1). 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. Some of the highlights of the drill programme include
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