Announcement Date: 2022-09-27
Announcement Type: Drilling Results
Announcement Code: JORC
Company name: Magnetic Resources NL
Project name: HN9
Location: Australia
Commodities: Gold
Highlight: Drilling results incl. 32m at 1.67g/t Au from 144m
Resources: only available to subscribers
CP/QP: only available to subscribers
Announcement summary: The Lady Julie North 4 gold deposit keeps expanding in size and new drill hole intersections in MLJRC624 (20m at 1.06g/t from 52m), MLJRC625 (16m at 1.81g/t from 88m) and MLJRC626 (8m at 2.35g/t from 100m) have expanded the mineralisation by 200m to the north of the existing 600m long Lady Julie North 4 Resource (Indicated and Inferred) of 2.7Mt at 1.27g/t for 109,000oz. (Figure 1). This forms part of the Lady Julie Combined Resources (Indicated and Inferred) of 5.4Mt at 1.27g/t for 224,000oz (Figure 2 and Table 1). In addition, at Lady Julie North 4, a new near surface zone just south of the centre of the deposit has an intersection of 20m at 1.67g/t from 48m in MLJRC641 and is open to the east and sits above steeper dipping resources. This intersection is east of the calculated resources and expands the potential EW extent of the mineralised zones to greater than 150m. Four drill holes are planned MLJRC634, 669 and 678-679 and will be testing the continuity further east of these nearer surface gold zones (Figure 1).
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